Buru Energy (ASX: BRU) has spudded a well targeting a 30 million barrel of oil structure similar to but separate from the successfully producing Ungani oil field in the onshore Canning Basin.
While a success at Ungani North, located 6 kilometres north of the Ungani Production Facility, would lead to its development, a failure would not affect the Ungani field in any way.
Ungani North, located 6 kilometres north of the Ungani Production Facility, is one of the better defined prospects on the Ungani Trend and while it will no doubt be developed if successful, will not affect the prospectivity of the Ungani field in any way if it isn’t.
The prospect has a similar seismic signature to that associated with the Ungani Dolomite section that is the oil producing reservoir at the Ungani Field.
Ungani North-1 in EP 391 is expected to take about 32 days to reach its planned total depth of 3000 metres.
The well is expected to encounter the Ungani Dolomite at a drill depth of about 2260 metres and is designed to minimise the invasion of this primary target section by mud and drilling fluids if it proves to be similar to the reservoir at Ungani.
It will also test a further zone of interest in the Nullara section below the prognosed Ungani Dolomite. The section had good oil and gas shows but poor reservoir development at the Ungani-1 location.
Ungani North-1 is the fourth well to be drilled by Buru’s joint venture with Mitsubishi Corporation. Both companies have a 50% interest in the well.
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