Buru Gets Assessment Report of Laurel Gas Accumulation

Buru Energy has announced that RISC, an evaluation and valuation group, has completed an assessment of the prospective resources of the Basin Centred Gas System (BCGS) in the Laurel Formation in the whole of Buru’s permit areas in the Canning Superbasin. 

This independent and detailed assessment puts the Best Estimate (P50) of the Laurel Formation tight gas accumulation at recoverable volume of 47 TCF of gas and  1,177 million barrels of condensate.

The data set is based on good quality, carefully analysed and interpreted regional well and geological data, comprising in part 22 petroleum wells, five of which have been drilled to date by the Buru/Mitsubishi joint venture, Buru said.

RISC has also specifically undertaken an analysis of the prospective resources in the Yulleroo area and estimate that the Yulleroo regional area has Best Estimate prospective resources net to Buru of 6.6 TCF.  The contingent resources in the Yulleroo area will be reviewed at the conclusion of the currently drilling Yulleroo 4 well.