Other Assets
Blina Oilfield (L6/L8 – Buru Energy 100%)
The Blina Oilfield remains shut-in while further technical evaluation is undertaken. Technical review of the data from the field continued during the year, with engagement of an independent expert to advise on the potential to restart operations at the field. The potential for activity on Blina to interface with the Geovault projects is also being actively investigated.
Yulleroo Gasfield (EP391 & EP436 – Buru Energy 100%)
The Yulleroo Gasfield accumulation is defined by four wells and a 3D seismic survey and has previously had a successful fracture stimulation operation on the Yulleroo 2 well in 2010. It contains a substantial 2C tight gas resource that has been independently certified. It forms part of the much larger prospective tight gas resource in the wider Canning Basin and also has potential for conventional gas resources. During the year the mapping of the reprocessed Yulleroo 3D data set has quantified the potential of the conventional sand from which gas was recovered in the Yulleroo 3 well at 3,200 metres drill depth and defined an area of potential conventional sand development that will be the target of a future well.
Carnarvon Basin (L20-1 Buru 50%)
During the year, Buru and Mineral Resources Limited (MRL) accepted an offer for the award of bid block L20-1 in the onshore Carnarvon Basin. The geology and play types on the block are similar to and complement Buru’s Canning Basin assets and represent new and exciting prospectivity for the L20-1 area. The award is to a 50/50 Joint Venture between Buru and MRL, with Buru as operator. The award of the block is subject to the completion of normal statutory processes.
The block covers the onshore portion of the Peedamullah Shelf, a geological unit bordering the main productive area of the Carnarvon Basin with extensive existing infrastructure in the area to facilitate commercialisation of any hydrocarbon discoveries.
The area also has high potential for conventional oil and gas and also for geothermal energy and carbon dioxide sequestration. Initial mapping by the Joint Venture has identified a number of conventional oil and gas prospects that can be tested by relatively shallow wells on the basis of the sparse but good quality existing seismic data.
During the year work commenced on the assembly and validation of the existing technical data on the block with the joint venture aiming to commence field work during 2022. The requisite Native Title agreements required for the grant of the permit are also being progressed with meetings with the appropriate parties.