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Buru Energy Limited (ASX:BRU) is reportedly planning between $500-600 million worth of work in the Canning Basin under its landmark agreement with the West Australian government.
According to Fairfax Media, Buru says the region holds huge potential for shale gas exploration.
US Majors such as ConocoPhillips and Hess have reportedly acquired significant acreage in the region.
Buru says it would consider a partial sale to fund its share of the gas venture.
In 2012 financial year Buru Energy booked a net loss of $5.5 million.
