Buru Energy (ASX:BRU) spudded the Ungani Far West 1 appraisal well using the Atlas Rig 2 on the weekend.
The well is located on an all weather drilling pad about one kilometre off the Ungani access road within Production License L21.
This is located 97 kilometres east of Broome and 3.3 kilometres southwest of Buru Energy’s Ungani Oilfield, in the Canning Basin of northwestern Australia.
Plan for Ungani Far West 1
Ungani Far West 1 has a programed maximum total depth of 2,600 metres and the operation is expected to take 48 days.
The well will appraise the western extent of the Ungani structure targeting conventional oil in the Lower Laurel (Ungani Dolomite) carbonates.
The Ungani Far West closure lies within the greater Ungani structural complex in a separate culmination located to the west of the mapped Ungani Field outline.
It is mapped on the 2014 Ungani 3D seismic as an independent structural feature with vertical closure of some 50 metres, and if oil is present could add significantly to the currently estimated Ungani volumes.
Buru Energy said that the well is planned to acquire a full core over the Ungani Dolomite section which will provide further critical insights into the reservoir character of the highly productive Ungani Dolomite reservoir of the adjacent Ungani Oilfield.
This information will also assist in further refinement of the Ungani oil resource volumes.
Equity and contributing interest
The well is being drilled under the terms of the Ungani Development Funding agreement with Diamond Resources (Fitzroy) Pty Ltd.
- Buru Energy: Equity interest 50%, contributing interest 0%.
- Diamond Resources (Fitzroy): Equity interest 50%, contributing interest 100%.
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