Buru Energy Limited (Buru Energy) provides the following update on drilling operations at the Praslin 1 well as at 06:00hrs, 28 August 2015 (AWST).

Since the last drilling report on 27 August, wireline logging of the well has been completed. Interpretation of the wireline logs indicates a gross oil bearing interval of some 23 meters is present at the top of the interpreted Ungani Dolomite section in the well.

The log response of the oil bearing interval is similar to that seen over the interpreted highly productive zone at the Ungani Oilfield, but as at Ungani, the reservoir characteristics will need to be confirmed by a production testing program.

The section below the Ungani Dolomite that had indications of hydrocarbons is interpreted from wireline logs to be tight. The well will therefore now be plugged back to the base of the interpreted oil column, a completion string run, and the rig released. A separate testing crew will then undertake the well test as soon as practicable. The Atlas 2 rig will be mobilised to the Victory 1 location immediately following its release from Praslin 1.

Tags: Buru Energy