Buru Energy to identify oil targets in Western Australia

Buru Energy (ASX:BRU) has completed the Acquisition of 3D seismic over an area of very high prospectivity for conventional oil in the onshore Canning Basin Western Australia.

The 224 square kilometre Jackaroo 3D seismic survey is located between the existing Yulleroo and Ungani 3D seismic grids giving the company seamless 3D coverage from Yulleroo to Ungani.

It covers the currently identified Jackaroo and Praslin prospects and a number of other conventional oil prospects along trend.

Field processing has indicated that the data quality of the 3D survey is good to excellent and the anticipated structural trends and prospects have been properly imaged.

Full processing of the data has commenced with a U.S. based processing house with the aim of having a preliminary data cube available early in 2015.

This will allow early selection of prospects for commencement of approvals processes for planned drilling in the 2015 dry season.

Buru’s Ungani 1ST1 well is producing at stabilised rates of 900 barrels of oil per day.

Water cut at the Ungani-2 well has also fallen to between 1% to 2% from about 4% after its production rate was reduced to accommodate the Ungani 1 ST1 production rate.

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