Just a reminder of what they found at previos Ungani's Its a...

Just a reminder of what they found at previos Ungani's
Its a good read.



A definitive oil/free water contact has been established from pressure data and sample recovery at 2,208 metres subsea and this can be correlated to the previously interpreted potential oil/water contact in Ungani-1. This oil/water contact elevation gives an oil column in the Ungani-1 ST1 well of 56 metres and in the Ungani-2 well of 53 metres, both in extremely well developed vugular dolomites. In both wells the dolomite reservoir with oil shows is thicker than the oil column, with some 137 metres of dolomite reservoir developed in Ungani-2. This thickness of high quality reservoir is very encouraging for the potential for increasing the amount of oil that may be present at higher elevations on the structure.

Log data suggest the Ungani-2 reservoir has very well developed vugular porosity and should therefore have similar flow characteristics to Ungani-1 ST1.

Potential oil volumes

Analysis of the data acquired from the well, including the results of the upcoming clean-up flow and data acquired from the planned extended production test are required to determine the reserves potential of the structure. However, the results of the Ungani-1ST1 and Ungani-2 wells to date have confirmed the presence of a very significant oil column with high flow potential and the likelihood of laterally extensive reservoir development. These factors all point to significant reserves potential in the Ungani field.

Quantification of the overall potential of the field will also require the acquisition and interpretation of the planned 3D seismic survey data and additional appraisal drilling. At this time, under reasonable interpretations of the existing data and the results of the two wells to date, the previously stated potential overall upside from the Ungani structure of some 20 million barrels of recoverable oil is considered to be reasonable.

Further analysis of the oil recovered from the Ungani-1ST1 well test has also been conducted. This has confirmed that the Ungani crude is a light sweet crude of 37 deg API with a pour point of -7 degC. Crudes of this composition are highly sought after and it is expected that the Ungani crude will command a premium price in world markets.

Commenting on these results, Buru’s Executive Director, Eric Streitberg, said:

'The results of the Ungani-2 well confirm that we have a very significant oil discovery. We set out to prove with this well that the reservoir was continuous and of good quality and that the structure had lateral extent. We have achieved all these objectives and in fact, came in high to prognosis, and with a reservoir that looks as good, if not better, than Ungani-1. This is a terrific result and a great Christmas present for our shareholders.

We will be working hard to get the production test of the field underway early in the New Year and then getting the 3D seismic acquired and additional wells drilled next year. We are also finalising the planning for our drilling program for the first half of next year and will be giving shareholders an update on that in the next little while.'

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Source: Buru Energy