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.
Further drilling is planned on the Rafael prospect, a regionally significant structure with the potential for significant volumes of oil if hydrocarbons are present.
Further exploration activity is also planned 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.