Buru Energy Ltd (ASX:BRU)’s Eric Streitberg joins Proactive’s Andrew Scott to discuss the geopolitical impact of recent events on Buru. Oil, gas and coal prices have risen sharply in the last few weeks, prompting Buru to plan the Ungani 9 well in the Canning Basin to target a reservoir that the Ungani 8 was unable to access.
Testing on the Rafael-1 well has also just concluded, identifying three individual zones of gas. The third, lowest zone has shown potential to produce up to 6 to 7 million cubic feet of gas a day, with very low CO2 content as is desirable for these wells.