Buru Energy has announced the spudding of the Rafael Shallow 1 well in exploration permit EP 428 in Western Australia’s onshore Canning Basin.
The well is being drilled by the Rafael Shallow Joint Venture comprising Buru Energy, Twinsouth Holdings, and Jingie Investments.
This marks the first well drilled in the Canning Basin since 2021, the year Buru made the significant Rafael (deep) conventional gas and condensate discovery – marking the first proven major onshore resource of its kind in Western Australia north of Karratha.
The Rafael Shallow 1 prospect is targeting oil reservoirs in the Poole Sandstones and Grant Formation expected between 750-1,250 meters depth. These clastic reservoirs are similar to previously discovered shallow oil pools near the legacy Blina Oilfield.
Buru’s CEO Thomas Nador said an oil discovery at the Rafael Shallow 1 prospect could provide a rapid development path that would add substantial value for the Rafael Shallow Joint Venture Parties.
“In addition, a discovery could provide an alternative funding path for Buru’s 100 per cent owned Rafael (deep) gas and condensate project, which is the Company’s strategic development priority,” he said.
“I thank our new Joint Venture partners in the Rafael Shallow well, Buru shareholders, the Traditional Owners of the country on which Rafael Shallow is being drilled, our dedicated staff and Silver City Drilling for their collective effort and support in getting us to this point. I wish the team success for a safe and efficient program.”
Drilling operations at Rafael Shallow 1 using the Silver City Drilling Rig 24 are anticipated to conclude in October 2024. Buru’s internal estimates indicate prospective gross un-risked recoverable oil resources ranging from 3.2 million barrels (low) to 79 million barrels (high), with a best estimate of 19 million barrels.
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