Buru Energy Limited is pleased to announce that it has
commenced well pad construction at the Rafael Shallow 1 well location as part of its
preparations to drill the high potential oil target in EP 428 in Western Australia’s onshore
Canning Basin.
The commencement of civil works follows the receipt of heritage and environmental
approvals, with construction conducted with the support of heritage monitors, archaeologist
and Buru supervisory personnel.
The well pad construction works are employing local Kimberley based contractors and are
planned to be completed to support well spud in late Q3, early Q4 2024 using the Silver City
Drilling Rig 24.
Commenting on the milestone, CEO Thomas Nador said:
“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.
This focus and pace of delivery is well warranted by the potential of the Rafael Shallow
prospect. 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.”
Authorisation
This ASX announcement has been authorised for release by the Chair of Buru Energy.
