Buru reports oil find in Australian well

Australia

PERTH, January 9, 2018 – Buru Energy has struck 74 metres of oil deposits in the Ungani-4 well in Western Australia, the the local oil and gas company announced on Tuesday.

The well, located in licence L20 in the Canning Basin, was drilled near the Ungani-1ST1 and Ungani-2 wells, which also hit oil over the past year.

“This operation successfully acquired a basic suite of logs which have confirmed the top of the Ungani Dolomite at 2,134 metres measured depth,” a company statement said. “On the assumption that the oil water contact in the well is at the same elevation as the Ungani-1ST1 and Ungani-2 wells, this implies a gross oil column of some 74 metres which compares to an oil column of 58 metres in Ungani 1ST1 and 54 metres in Ungani 2.”