Projects
Buru holds interests in or rights to tenements covering the most prospective parts of the Canning Basin. The map set out below shows the location of the Canning Basin and the interests in the Canning Basin held by Buru. To view a full list of the interests held by Buru, click here.
Buru is conducting a focussed exploration and development program in the Canning Basin. The Company produces oil from the Blina/Sundown and associated oil fields and carried out a workover program in September 2008 that substantially increased production from these fields. It has recently conducted the Bunda 3D seismic survey over the field areas and plans to drill a number of wells on this area in 2010.
Buru Energy exploration philosophy
Overall strategy
Buru is undertaking an exploration program on its areas with a near term focus on those prospects that have the potential for early discovery of hydrocarbons. ARC and Buru’s “pre-commercialisation” activity will assist with the early development of discoveries to provide the operational cashflow to "bootstrap" further exploration and development, including the exploration for sufficient gas reserves to ensure the financial viability of the gas commercialisation program.
Objectives
In accordance with Buru's commercial and technical objectives, the exploration program is tailored to provide the best chance of early commercial success taking into account operational constraints and the balance of government, joint venture and stakeholder commitments. A focus on targets likely to produce early success will be overlain by regional considerations on prospectivity. In the near term, Buru will generally target shallower and therefore less expensive drilling prospects.
Buru's extensive data base will be developed and a technical evaluation of Buru's permits using this data and external consulting groups will be undertaken to ensure a full regional understanding of the Canning Basin.
Exploration program and objectives
The field work programs in the Canning Basin are influenced by the "wet season" which can hamper movement in varying degrees from December to March. The planned programs will also be influenced by weather conditions, personnel and equipment availability, the gaining of regulatory and environmental approvals and successful negotiation of access agreements with traditional owners.