Buru Energy Limited provides the following update on operations at the Ungani-2 well.

The Ungani-2 well is the fourth well in the Buru - Mitsubishi Corporation 2011 Joint Exploration Program. Buru and MC each have a 50% working and paying interest in this well and in EP 391. The Ungani-2 well is being drilled from the same drilling pad as Ungani-1ST1 to a bottom hole location some 520m to the northeast of the bottom hole location of the Ungani-1ST1 well.

Operations since last report

Since the last report on 1 December 2011, Core 2 has been cut over the 27 metre interval from 2,327.8m to 2,354.8m measured depth, with 2.61 metres of core recovered. The poor core recovery was despite substantial changes to the coring parameters from those used to cut Core 1, and is interpreted to be because of the friable and vugular nature of the reservoir.

On completion of coring operations the well was drilled ahead to the current measured depth of 2,587 metres, and a comprehensive wireline logging and pressure testing program has been carried out with the results as set out below.

The forward program is to deepen the well to approximately 2,700m measured depth to investigate a deeper zone which had good oil shows in the Ungani-1 well, but was unable to be logged in that well. At the conclusion of that operation, the well will be plugged back and the production casing and completion run. A cleanup flow will then be undertaken to prepare the well for future production, and the rig will be released.

Tags: Buru Energy