Buru Energy said it has identified a five metre sandstone interval at the Ungani Far West 1 well in North Western Australia.
The company said an oil sample was recovered with interpretation of pressure data indicating a potential oil column of at least 14 metres with around five metres of net pay.
A sampling program is continuing with results expected to be on going.
Buru said following the completion of the logging and sampling program the well will continue to be drilled ahead to the top of the Ungani Dolomite reservoir where casing will be run and Atlas
Rig 2 will then be released.
The well is located on an all-weather drilling pad one kilometre off the Ungani access road with production license L21.
Buru Energy’s executive chairman, Eric Sreitberg, said: “This is an excellent outcome for the Ungani area and the Canning Basin generally with an oil discovery in a new play for the Ungani
area.
“There has been previous oil production from the Anderson Formation in the Canning Basin but it was on the Lennard Shelf in Buru Energy’s Blina tenements on the other side of the Canning Basin, over 125 kms from this discovery.
“Not only is this a play opening discovery in the Ungani area but there are numerous leads and prospects at this shallower level in the area and these will now be evaluated for future drilling.
“We will now drill on and see what awaits us in the Ungani Dolomite section which is the main target of the well.”
The well is being drilled under the terms of the Ungani Development Funding agreement with Diamond Resources (Fitzroy) Pty Ltd.
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