Analysis of data from TGS program very encouraging
Substantial upgrade to Ungani Resources by independent reviewer
Evaluation of 3D data and oil prospects proceeding well
- Laurel TGS: initial gas peak rates on blowdown of up to 44 million cubic feet of gas per day (“mmcfgpd”), and average blowdown gas rates of up to 13.5 mmcfgpd.
- Ungani: This review estimated the remaining gross recoverable contingent resources of oil for the field at the 1C level to be 2.08 million barrels, at the 2C level to be some 6.65 million barrels, and the 3C resources to be some 18.80 million barrels.
Very pleased to see:
"Buru’s objective is to return the field to production as soon as practicable, with an intensive review underway of operating, transport, and marketing costs to ensure a restart can be made in a commercial framework that includes an oil price that delivers strong positive cash flow. "
