Buru Energy Ltd (ASX:BRU) confirms that the latest lifting of around 78,000 barrels of crude from the Ungani Oilfield JV is the largest to date from the project in the Canning Basin onshore Western Australia.
The lifting was by Petro-Diamond Singapore Pte Ltd from CGL storage Tank 10 at Wyndham port on January 9 and 10, 2020.
The price received is the realised Brent linked oil price less the buyer’s fixed marine transport discount
Buru’s 50% revenue share from the lifting was previously invoiced at around $3.5 million subject to an adjustment related to the average January price.
The lifting was several days later than originally planned due to delays incurred by the ship at its previous port.
Further steps
The Ungani access road was closed from January 6 to 11, due to minor flooding from the passage of Cyclone Blake but there has been no material damage.
Field production also resumed on January 12.
Buru will provide an update on field productions once ongoing well interventions have been completed and scheduling for the Ungani-6 work program has been finalised and confirmed with equipment and service providers.