Buru Energy Limited provided the following weekly update on drilling operations at the Victory 1 well in EP 457 in Western Australia as at 06:00hrs, Oct. 29 (AWST).

Since the last progress report, the well has been drilled ahead in 4.75 inch (121 millimeter) hole to a total depth of 8,530 feet (2,600 meters) with continued complete lost circulation.

As no sample returns have been obtained no further information is available on hydrocarbon indications or lithologies penetrated since the last report. As at 06:00 hours today, wireline logs were being acquired.

A decision on whether the well will be tested will be made once the logs have been evaluated, noting that the amount of water lost to the well (in excess of 10,000 barrels) is likely to make log interpretation challenging.

Tags: Buru Energy