Buru Energy has an extensive and highly prospective exploration portfolio including conventional 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. Buru equities in these prospects range from 50% to 100% and it is operator for all these areas.
The Company is undertaking an exploration and development drilling program during 2019.
The first well in the program, Adoxa 1 on the Yakka Munga structure discovered a prospective oil zone and enhanced the prospectivity of the regionally extensive Reeves and Anderson Formations.
Buru is currently drilling in the Lennard Shelf area at the Miani (Hotdog) prospect, a large hydrothermal dolomite feature which has similar geological features to large North American fields.