Company
ASX:BRU
Buru Energy Ltd is an ASX listed diversified energy company focused on exploration and production of hydrocarbon and non-hydrocarbon energy resources in Australia. The company is headquartered in Perth, Western Australia with a regional operational office in Broome. It pursues the exploration, development and commercialisation of hydrocarbon resources in the onshore Canning Basin in north-western Australia.
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Eric Streitberg, executive chairman, commented: “The agreements will greatly facilitate the further appraisal and development of the gas and liquids accumulation in the area of the Valhalla and Asgard wells.”
Buru has the potential for large value delivery from both its oil and tight gas assets in the Canning Basin located in northwest Western Australia.
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The agreement covers land within Exploration Permit EP371 in the Kimberley region of Western Australia and is in the form of an Indigenous Land Use Agreement or ILUA with the Yungngora People.
Eric Streitberg, executive chairman, commented: "We have proven conclusively that we have a high quality gas resource with significant liquids content, and that we have the techniques to produce it safely and effectively."
The Laurel Formation is a basin centred gas accumulation with potentially world-class resources of gas and hydrocarbon liquids. The recent program and resource estimate covers just a small portion of this regional resource with Buru holding
Eric Streitberg, commented: "The core through the dolomite reservoir has given us very valuable insights into the Ungani Dolomite reservoir characteristics."
Early indications on the well has drawn similarities to the company’s flagship Ungani wells, which are strong producing wells with good quality oil from the similar Ungani Dolomite reservoir.
The next key catalysts for Buru will be the test results from the Ungani Far West 1 well. This highly anticipated news flow is expected over the next couple of weeks.
The next drilling report will be highly anticipated and is expected to further outline the potential scale of the resource at the Ungani Far West 1 well. Early indications is that this well is similar to the company’s flagship Ungani
Buru Energy is set to begin coring at the primary target of its Ungani Far West 1 well in Western Australia's Canning Basin as the company charts production and testing progress across its oil and gas portfolio after successfully testing oi
With recent drilling results confirming an oil column in the Anderson Formation at the company’s Ungani Far West 1 well in the Canning Basin, Buru Energy is preparing for the highly anticipated drilling of the project's primary target
Buru Energy has found a new producing zone and recovered oil from its Ungani Far West 1 well in the Canning Basin, just one kilometre off the Ungani access road, heightening expectations for the new play in the Ungani area.
Buru Energy is advancing a drill program at its Ungani oil project in Western Australia as new insights bode well for resource growth and additional output.
Ongoing drilling at Buru Energy’s Ungani Far West 1 well in Western Australia has revealed oil shows with some similarities to those observed in the equivalent formations on the Lennard Shelf in the Sundown and West Terrace accumulati
Buru Energy has spudded a low-risk and highly prospective conventional oil well near its producing Ungani oil property in Western Australia’s onshore Canning Superbasin.
The Australian All Ordinaries continued to trade in positive territory today with the index last holding at a marginally higher 5,300 points. Mining and energy stocks are looking weak, but a few gems have surfaced.
The Tight Gas Pilot Exploration Program is a proof of concept fracture stimulation of the Laurel Formation tight gas accumulation in two vertical wells, Asgard 1 and Valhalla North 1.
Eric Streitberg, executive chairman, Buru Energy, speaks exclusively in Proactive Q&A Sessions™.
