Buru spuds Victory 1 well

Buru's permits in the Canning Basin

Buru's permits in the Canning Basin

Buru Energy has spud its Victory 1 conventional gas well in the Canning Basin, Western Australia.

The company released an operations statement to the ASX yesterday, saying that the well, which is 185 kms from Broom, has a programmed maximum total depth of 2,600 metres and is expected to take about 34 days to drill.

Victory 1 will target conventional oil and gas in the Ungani Dolomite and Laurel clastic reservoirs.

“The Victory prospect has similarities to Ungani although is potentially considerably larger and has been defined by 2D seismic surveys and regional aerogravity surveys,” yesterday’s statement said.

Buru’s executive chairman Eric Streitberg said the development follows successes at the company’s Praslin 1 well.

“Victory has the potential to be large if it is successful and we are very much looking forward to the results,” he added.

Buru Energy holds a 41.67 per cent interest in the Victory 1 well alongside joint venture partners Mitsubishi Corporation (41.67 per cent) and Rey Resources (16.67 per cent).

Rey’s managing director, Kevin Wilson said the Victory 1 spudding was an encouraging development for the Ungani project.

“Victory 1 is the first of two wells to be drilled on the Ungani trend that we will participate in over the next few months. Both are potentially high impact wells.”

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