Buru completes Rafael 3D seismic survey in Canning basin

Sydney-listed Buru Energy has successfully completed the Rafael 3D seismic survey acquisition programme within exploration permits EP 428 and EP 457 in the Canning basin of Western Australia, it said on October 3.

The company said that Origin Energy's funding contribution of up to $4 million towards the seismic survey programme as part of Origin's exit from its Canning basin joint venture interests in February this year has significantly minimised the cost exposure of the survey to Buru.

Buru holds 100% interest in EP 428 while it has 60% ownership in EP 457 with the rest owned by Rey Resources. It operates both permits.

The seismic survey programme also included the acquisition of several 2D seismic lines in exploration permit EP 457, aimed at enhancing the definition of prospects identified on existing data that could potentially provide opportunities complementary to a Rafael development.

Seismic data processing will commence shortly, with an initial interpretation of fast-track data from the survey expected in Q4 of 2023.

Phase one of the Rafael project is a Kimberley based hybrid gas to power and renewables project designed to meet the current and growing energy demands of the region.