Buru Energy on the move at high-potential Rafael Shallow 1 well with civil works underway
Published:11:09 13 Aug 2024 AEST
Depth structure map to the top of the primary reservoir at Rafael Shallow.Buru Energy Ltd (ASX:BRU, OTC:BRNGF) is moving rapidly to test the high-potential Rafael Shallow 1 well oil target in EP 428 in Western Australia’s onshore Canning Basin with well pad construction underway.
The start of civil works represents a milestone for the company just months after identifying the prospect and follows the receipt of heritage and environmental approvals.
“Having identified this high potential Rafael Shallow oil prospect less than four months ago, Buru is now in a position where heritage and environmental approvals are in hand, a funding agreement for the drilling of the well has been executed, the drilling rig and materials have been secured and we have commenced well pad construction," CEO Thomas Nador said.
Local contractors
Construction work at Rafael Shallow 1 well is being conducted with the support of heritage monitors, archaeologist and Buru supervisory personnel.
Local Kimberley-based contractors have been employed for the well pad construction and this work is planned to be completed to support well spud in late Q3 or early Q4 2024 using the Silver City Drilling Rig 24.
"This focus and pace of delivery is well warranted by the potential of the Rafael Shallow prospect,” Nador said.
"A new oil discovery would add substantial value for Buru and an additional funding path for Buru’s 100% owned Rafael Deep Phase 1 gas and condensate project, which remains the company’s development priority for that existing resource.”
