Buru Energy

Latest Buru Energy News

• The Paradise-1 deepening operation is the second well in the Buru - Mitsubishi Corp (MC) 2012 Joint Exploration Program.

• McDaniel are of the opinion that the Valhalla accumulation, within Buru's permits in the Valhalla area, contains a mean unrisked gross recoverable volume of 15 TCF of gas and 432 million barrels of liquids (condensate and LPG).
• McDaniel have also confirmed that the Laurel Formation in the Valhalla area has the characteristics of a Basin Centred Gas Accumulation.
• McDaniel's unrisked high estimates, for the gross recoverable volumes for the accumulation on Buru's permits in the Valhalla area, are in excess of 33 TCF of gas, and one billion barrels of hydrocarbon liquids.

• The Valhalla North-1 well is being drilled by Ensign Rig #32.

• The award is conditional upon Strata-X complying with the Native Title Act of 1993 which is expected to take between 6 and 12 months.
• The entry into Australia is an excellent opportunity for the company to draw on the strengths of the company's management.

• Buru Energy has been successful in the the recent acreage bid round in the Canning Superbasin, and has been offered two new permits.

• Buru's Ungani-2 well is the fourth well have a 50% working and paying interest in this well and in EP 391.

• Drilling operations at the Ungani-2 well commenced on 2 November 2011.
• Ungani-2 well is the fourth well in the Buru - Mitsubishi Corp (MC) 2011 Joint Exploration Program.

• Century Rig #7 released to Buru Energy without the Laurel Formation being evaluated.
• Deepening of the Lawford-1 well fulfills the immediate work commitments across EP417 and enables its continued retention.

• Buru Energy Limited ('Buru' or 'Company') provides the following update on operations at the Ungani-1ST1 well.
• The well was flowed for a total of 8 hours at varying choke sizes with a peak rate of 1,647 bpd on a ½ inch choke with a flowing well head pressure of 18 psi.

• Buru Energy is the preferred applicant for two additional petroleum exploration permits in the Canning Superbasin, L10-7 and L10-8
• The permits provide additional exposure to the exploration trends identified in the Paradise Valhalla area to the north in EP 371
• The permits will provide a very important addition to Buru's portfolio, bringing its net equity acreage position in the Canning Superbasin to a total of some 48,000 sq km

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