Buru Energy remains encouraged by extended oil production test at the Ungani Field Wednesday, August 01, 2012 by Bevis Yeo Buru Energy (ASX: BRU) continues to be encouraged by the strong performance of the Ungani Field Extended Production Test and has received the proceeds from its first sale of oil from the field.
Both the Ungani-1 and Ungani-2 wells have continued to perform at or above expectations with clean up flows occurring without evidence of pressure depletion or formation water production.
The Ungani field in the onshore Canning Basin has produced 14,439 barrels of oil since the Extended Production Test started though it is still too early to make more accurate estimates of reservoir size than the current 5 million to 20 million barrel range.
Buru has also received payment for the first delivery of oil it made to the BP refinery at Kwinana though it did not say how much it received.
In its ongoing attempts to better understand the field, Buru has carried out a number of shut-ins and interference tests during July and has recovered downhole pressure gauges necessary to record accurate pressure data.
This data is being analysed and will assist in estimating the minimum reservoir size and other parameters.
Buru is now working to increase production from the field.
The company is currently drilling the Ungani North-1 well that targets a 30 million barrel of oil structure similar to but separate from the Ungani field.
Ungani North, located 6 kilometres north of the Ungani Production Facility, is one of the better defined prospects on the Ungani Trend and while it will no doubt be developed if successful, will not affect the prospectivity of the Ungani field in any way if it isn’t.
Besides the primary target Ungani Dolomite, the well will also test a further zone of interest in the Nullara section below the prognosed Ungani Dolomite that had good oil and gas shows but poor reservoir development at the Ungani-1 location.
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