Buru Energy’s permits are in the Canning Basin, an area in the SW Kimberley region some 2,300 kms north of Perth. The area is low relief and is dominated by rangelands with large cattle grazing properties covering most of the area.
The Canning Basin is the largest sedimentary basin in Western Australia covering an area of some 530,000 sq kms. Geologically, the basin has similarities with highly productive Palaeozoic basins worldwide and is one of the few remaining areas in onshore Australia that is under-explored for petroleum.
Buru Energy holds the dominant acreage position in the Canning Basin. In addition to the significant Ungani conventional Oilfield and the tight wet gas resources of the Laurel Formation, Buru Energy has an extensive and highly prospective exploration portfolio covering oil and gas prospects that are well defined on both 2D and 3D seismic. The portfolio covers a range of prospect sizes and play types from proven Ungani lookalikes to high potential play types for oil and gas. The majority of these high value prospects are on 100% owned acreage providing significant currency for the introduction of partners. The forward program will target a multi-well exploration drilling program targeting Ungani trend prospects in 2018 subject to farmout/ funding arrangements.