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

Swabbing operations have now been completed after recovering some 500 barrels of lost drilling fluid followed by formation fluid similar to the formation fluid at Ungani, but with no indications of moveable hydrocarbons. Fluid influx during swabbing suggests that the well has well developed porosity and permeability.

The well will now be suspended for further evaluation including possible use as a water injection point.

Praslin 1 is located 90kms east of Broome and 15kms west of Buru Energy's producing Ungani oil field. Buru Energy and Mitsubishi Corporation each have a 50% equity and contributing interest in the Praslin 1 well and in EP391.

Tags: Buru Energy