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Buru Energy Ltd

Buru Energy preparing to mobilise to drill the Adoxa 1 exploration well

Buru Energy Ltd (ASX:BRU) executive chairman Eric Streitberg talks to Proactive Investors about overcoming challenges with a drilling rig and some of the geology on the Ungani Oilfield onshore WA, to move forward positively.
 
Streitberg says while they had some issues, the joint venture partners are confident of good results moving forward, with the rig back up and working perfectly, and lessons learned from the drilling.
 
He adds, Buru Energy was pioneering a technique never before attempted in the Canning Basin, and the company will be redesigning the next well in the Ungani field, to overcome the previous challenges.

Quick facts: Buru Energy Ltd

Price: 0.24 AUD

Market: ASX
Market Cap: $103.7 m
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Buru Energy on schedule with Ungani 6H well drilling program

Buru Energy Ltd (ASX:BRU) executive chairman Eric Streitberg updates Proactive Investors on a drilling program just begun with a new rig in a new area at its Ungani 6H well.   Drilling has reached two-thirds the way down the first well and is due to be complete within the next...

on 24/5/19

2 min read