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Buru Energy prepares to drill Rafael 1 well in Canning Basin

Published: 10:43 18 Aug 2021 AEST

Buru Energy Ltd - Buru Energy prepares to drill Rafael 1 well in Canning Basin
Rigging up at Rafael 1 well site in Canning Basin in WA’s southwest Kimberley region.

Buru Energy Ltd (ASX:BRU) continues to march ahead with its aggressive 2021 exploration program onshore Canning Basin in Western Australia with the Ensign 963 drilling rig being prepared for the drilling of the Rafael 1 well.

After completing drilling at Currajong 1, the rig was moved to the Rafael 1 location and is now being rigged up in preparation for drilling.

On time and on budget

This operation is on time and on budget and the company is eagerly looking forward to the spud of its next well.

The company’s executive chairman Eric Streitberg said: “Rafael 1 is targeting a geologically distinct formation to Currajong 1 with significantly larger potential resources and we are very much looking forward to drilling that prospect.”

Buru’s petroleum assets and tenements are onshore in the Canning Basin in the southwest Kimberley region of Western Australia.

Largest Canning Basin holder

The company is the largest acreage holder in the Canning Basin and is the operator of all of its exploration permits.

It owns and operates 50% of its flagship high-quality conventional Ungani Oilfield project and also operates a basin-wide portfolio of exploration permits and licences prospective for conventional and unconventional resources ranging from 40% to 100% working interests.

Currajong 1 testing

Currajong 1, the first well of its 2021 exploration program, was spudded on July 1 and the joint venture is finalising the testing program.

The current plan is to test several zones individually and this will require additional equipment to that available in inventory.

This equipment is expected to be available in four weeks with the program to commence as soon as it is on site.

The test program is planned to take up to three weeks to test all of the zones.

July crude oil lifting

Last month Buru completed the latest crude oil lifting and sale process from the nearby producing Ungani oilfield.

The MT SCF Pechora vessel executed the lifting, netting around 74,000 barrels of gross crude oil, of which 50% is Buru’s share and the company has subsequently received more than $3 million cash.

Buru Energy webinar highlights progress on Rafael discovery

Buru Energy Ltd (ASX:BRU, OTC:BRNGF) CEO Thomas Nador provides an update on the excellent progress Buru has been making, not only on the game-changing Rafael conventional gas and condensate discovery in the Canning Basin of Western Australia but also the building momentum behind Buru’s...

on 1/12/23