Buru intersects more hydrocarbons in the Canning Basin
Buru Energy has observed hydrocarbon shows after intersecting the secondary target Anderson Formation at its Adoxa-1 conventional oil exploration well in the Canning Basin, Western Australia.
This comes just days after the company encountered good to excellent oil shows in the primary objective Reeves Formation along with live oil being observed at the surface.
Adoxa-1 intersected the top of Anderson at a depth of about 1,730m and several individual sand bodies with hydrocarbon shows in cuttings samples were observed from that depth to the current well depth of 1,794.5m.
Management said the significance of these shows would be evaluated with wireline logs once the well is completed to its total planned depth of 2,200m.
The new hydrocarbon shows in the Anderson add more interest to what Buru has already uncovered within the Reeves Formation, where the best oil shows were noted over an interval of about 10m, while several other less well-developed oil shows were observed in cuttings samples of interpreted good quality sands.
It also provides support to the company’s interpretation of seismic data, which indicated that there were additional potential reservoir targets deeper within the well.
Chinese company Roc Oil is earning into exploration permits EP 428, where Adoxa-1 is located, EP 391 and EP 436 by paying for $20m of a $25m exploration program with up to four wells.
While the partners have agreed that Adoxa-1 will not be one of these four wells, Roc will still pay for its 50% share of costs on a separate basis.
Buru Energy (BRU)
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