Oil Production

Buru Energy has a 50% operating interest in the conventional Ungani Oilfield (production licences L20 and L21) with current production of approximately 1,000bopd. The field is profitable at oil prices greater than US$30 per barrel.

The field is located approximately 90 kilometres east of Broome and currently includes five production wells and associated production facilities. The produced oil is trucked to the Port of Wyndham where it is stored in an 80,000 barrel tank prior to shipment to SE Asian customers.

The Buru/Roc Joint Venture have agreed to drill two horizontal development wells in 2019 with a target of at least doubling production.

The Company also holds 100% of a number of legacy fields on the Lennard shelf and is undertaking a program of decommissioning of these fields. As part of this program a recompletion of the existing Blina well on the Blina Oilfield will be undertaken to attempt to access what are interpreted to be by passed oil resources in the Yellowdrum formation.