Canning Basin-focused Buru has been making waves in recent months following the discovery of what appears to be a conventional wet gas reservoir.
While the company’s Ungani oilfield continues to provide it with very welcome cash flow, the Rafael 1 exploration well has the potential to be transformational.
Not only do initial results suggest the potential for a substantial accumulation of high quality gas to be present in the structure, Buru has also highlighted several factors that could imply that Rafael may be regionally significant.
These include high estimated reservoir pressures in excess of 6,000psi and the presence of a thick Laurel Shale top seal combined with a large structural closure that supports the potential for a significantly larger gas column in the greater Rafael structure than seen at the exploration well location.
It is no surprise then that the company has leapt on the opportunity brought about by changes to Western Australia’s quarantine requirements to bring forward the testing of Rafael-1 by a week (as the crew will be released from quarantine earlier than expected).
This testing – now scheduled for the middle of February – will help Buru determine just how large the discovery actually is, confirm the low carbon dioxide content of the gas, and determine just how much of the content is made up of valuable petroleum liquids such as liquefied petroleum gas (LPG).
As if that wasn’t enough, the company is also progressing its Geovault carbon capture and storage plans, its 2H Resources’ natural hydrogen permits in South Australia, and its Battmin foray into mineral exploration – specifically for lead-zinc in the Canning Basin.
anyone selling is a g00se, SP will test 30c when Rafa is testing before results
