Buru Energy Ltd (ASX:BRU) is making encouraging progress at the Rafael 1 exploration well onshore Canning Basin in northwest Western Australia.
Drilling has intersected a number of zones of hydrocarbon indications including mudgas increases and increases in the rate of penetration (ROP) normally associated with better reservoir quality.
Whilst these indications are encouraging, their significance and fluid composition will only be able to be determined following wireline logging and, where warranted, subsequent flow testing as approved by the joint venture.
“Further potential deeper in the structure”
“The presence of wet gas to light oil mudgas shows is encouraging, but wireline logs will be required to determine the significance of the indications we have seen to date,” Buru chairman Eric Streitberg said.
“We have a way to go in the section yet, there is further potential deeper in the structure, and we intend to drill as much of the seismically prospective section as possible.”
Operational update
Since the last update, the well has been drilled ahead in an 8½ inch hole from the 9⅝ inch casing setting depth of 3,500 metres to the current depth of 3,872 metres.
Subsequently, the current operation is pulling out of hole for a bit change and scheduled BOP test.
On the completion of current operations, the well is planned to be drilled ahead to evaluate the remaining section that is identified on seismic to have further reservoir potential within the mapped Rafael closure.
Geological update
The well has penetrated the top of the seismically interpreted main objective carbonate section and has encountered interpreted Laurel Formation carbonates and shales overlying a section interpreted to be the Ungani Dolomite.
Furthermore, 250 metres of potential objective section remain to be drilled below the current depth of the well.
About Buru
Buru Energy Ltd (ASX:BRU) is an oil and gas exploration and production company focused on exploring and developing petroleum resources of the Canning Basin in the southwest of Western Australia’s Kimberley region.
The company has a 50% operating interest in the currently producing Ungani Oilfield and holds interests in an extensive portfolio of petroleum exploration permits covering about 5.4 million gross acres in the Canning Basin.
Buru is the operator of all of its exploration permits, and also has the largest acreage in the Canning Basin.