MELBOURNE, Feb. 3 -- Perth-based Buru Energy Ltd. will soon begin a comprehensive seven-well exploration-appraisal program in the onshore Canning basin of northwest Western Australia supported by joint venture partner Mitsubishi Corp.
The program includes appraisal of the Pictor oil and gas discovery in permit EP 431, drilling two exploration wells in the Yulleroo field area, two exploration wells in the Acacia field region, the Cyrene-1 exploration well in EP 438, and a well to evaluate one of the unconventional play types being delineated by Buru.
Buru said the Yulleroo wells will either appraise the Yulleroo reservoir or target prospects on the trend confirmed by Yulleroo-2 well and a recent 2D seismic survey in the area. The company also plans to restart flowback of Yulleroo-2, which has been shut in since late December 2010 to build pressure.
Buru will acquire 1,250 km of 2D and 250 sq km of 3D seismic in these two permits.
In the separate EP 428 joint venture, Buru is considering options to test deeper targets in the Paradise-1 well drilled last year to follow up an anticipated oil-bearing zone.
Executive Director Eric Streitberg said the company is encouraged by results of the 2010 program, especially the Yulleroo-2 appraisal, that there will be commercial accumulations found. He also believes the Canning Superbasin contains extensive unconventional reservoir potential.
Buru Energy plans seven-well program in Canning basin