Buru Energy Starts Paradise-1 Deepening Operation

Buru Energy has begun the operations for deepening of Paradise-1 well using Century Rig #7. The Paradise-1 deepening operation is the second well in the Buru – Mitsubishi Corp Joint Exploration Program.

The deepening operation at Paradise-1 will be in 6” hole to a prognosed total depth of 3,200 metres in the Lower Laurel Formation, and is expected to take some 20 days to complete.

“This is an important and exciting test of the both the conventional and tight gas potential of the Laurel Formation, on what is interpreted to be a large structural closure.  The recent independent review of the area by McDaniel confirmed that there is a very large basin centred gas accumulation in the Valhalla area,” Executive Director, Eric Streitberg said.

The existing Paradise-1 well was drilled by the Buru and MC joint venture in late 2010 to a depth of 1,700 metres.

The regional Valhalla gas accumulation in the Laurel Formation is also interpreted to extend to the Paradise area. If the Laurel Formation encountered in the Paradise-1 well has the same characteristics as seen in the Valhalla-2 and Valhalla North-1 wells, this will confirm a northwest extension of the Valhalla wet gas accumulation over a distance of some 21 kms.