Carnarvon Basin

Canning Basin IP applied to new areas

Buru’s experience and knowledge (IP) of Palaeozoic geology in the Canning Basin is being applied in other Australian Basins to competitive advantage

New permit awarded as first step

In October 2020, Buru Energy and Mineral Resources Limited (MinRes), applied for Release Area L20-1  as part of the 2020 State Government onshore Petroleum Acreage Release.

This strategically positioned block, near established oil and gas infrastructure including the Tubridgi gas storage field, the Wheatstone LNG gas processing plant and associated pipeline infrastructure, was offered to the Joint Venture in March 2021, and subsequently awarded to the Joint Venture by the WA Government on 28 July 2022 as EP 510.

Mineral Resources assumed operatorship of the permit coincident with this award, and as part of the farmout transaction executed between the parties on 24 May 2022, MinRes will carry Buru for the first two exploration wells to be drilled in the permit.

Building a portfolio of exploration assets

In January 2023, Buru Energy was advised that it has been successful in its application with its partner MinRes for an additional two highly prospective petroleum exploration areas in the Northern Carnarvon Basin and the Merlinleigh Sub-basin.  The areas lie immediately to the south of the EP 510 permit that Buru also shares with MinRes

The L22-2 and L22-4 areas were part of the recent WA Government Petroleum Acreage Release 2 of 2022, and have been offered to the joint venture of MinRes as Operator (75%) and Buru (25%).  The grant of the permits is subject to completion of Native Title agreements, and the joint venture looks forward to completing those with the relevant parties.

Prospective geology

Geology and play types similar to and complement Buru’s Canning Basin assets, representing new prospectivity for the L20-1 area.

Excellent prospectivity for CCS with a focus by Geovault on the area to prepare for future developments.