Buru Energy has completed drilling at its Rafael 1 exploration well with early indications highlighting the company has found wet gas rich in LPG and condensate. The crucial wireline logging and flow testing will follow which the company hopes will firm up the prospectivity of the well.
Since its last report, Buru says it has continued to encounter good to excellent gas shows in the much-vaunted Ungani Dolomite equivalent section from 3,857-3,977 metres depth.
Buru says that the gas influx experienced during drilling along with other drilling parameters indicate it has encountered a conventional reservoir.
Wireline logging over the shallower gas shows indicate the presence of vugular dolomite and zones with hydrocarbons consistent with gas shows while drilling, according to the company. At the time, the company indicated the logs and pressure data were encouraging, however remained subject to further evaluation.
The company took the step of adding an additional 7-inch casing over shallower gas shows to a depth of 3,868m. The well was then drilled ahead using a six-inch bit to the final total depth of 4,141m through the Ungani Dolomite. Currently Buru is pulling the drill string out of the hole in preparation for the critical wireline logging measurements that will reveal the quality of the reservoir and the saturation of hydrocarbons in the various gas zones.
Regular updates from the company are expected over the coming week.
Having announced the prospect has the potential to deliver up to 176 million barrels of oil this well has generated significant market interest. Buru Executive Chairman, Eric Streitberg is a Canning Basin specialist and his company has vast experience in this Western Australian wilderness. The next week will likely have the Board holding onto their seats until the wireline logging is complete.
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