Buru Energy (ASX: BRU) has observed indications that its Asgard-1 well in the onshore Canning Basin has as prognosed, encountered the regional Laurel Basin Centred Gas accumulation.
Gas shows increasing with depth were intersected from the top of the Upper Laurel Clastics at about 1,919 metres to the current depth of 2,680 metres.
These shows are similar to those encountered in Valhalla North-1 with similar gas wetness ratios and heavier hydrocarbon indications.
With Asgard-1 located about 35 kilometres from the Valhalla wells, the result bodes well for the presence of a very large Basin Centred Gas resource.
The well will now be drilled towards the proposed total depth of 3,400 metres before a full suite of wireline line logs are run.
Asgard-1 in EP 371 is the fifth well to be drilled by Buru and Mitsubishi Corporation equal joint venture and targets the Upper and Lower Laurel gas reservoirs.
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