28 July 2011drilling progress report▲ GoodMajor
Full logging and coring of Valhalla-2 suggested a wet-gas-charged section spanning at least 1,300m of the Laurel Formation - preliminary evidence of a potentially substantial regional gas accumulation.
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28 July 2011drilling result▲ GoodMajor
Valhalla-2 drilling wrapped up with a preliminary read of a wet-gas-charged Laurel Formation section over at least 1,300m - several Tcf of gas and over 50 million barrels of condensate/NGLs across the wider Valhalla area - which Buru likened to the liquids-rich Granite Wash tight gas play in the US; the rig then moved on toward Ungani-1's spud, Century Rig #7 mobilised to Pictor East-1, and Yulleroo-2's flow testing and 3D seismic continued.
21 July 2011drilling progress report▲ GoodMajor
Valhalla-2 reached its 3,390m total depth, penetrating the Lower Laurel gas sands as prognosed with continued good-to-excellent gas shows and further flaring.
14 July 2011drilling progress report▲ GoodMajor
Valhalla-2 reached 2,789m with continuous high background gas and good-to-excellent shows, including one six-hour continuous gas flow to surface (no stabilised rate established).
11 July 2011drilling progress report▼ Bad
A drill-stem test of Valhalla-2's Upper Laurel gas sands was mechanically successful but found the reservoir tight, with no significant gas flow obtained - data that will feed a future hydraulic stimulation assessment.
7 July 2011drilling progress report▲ GoodMajor
Valhalla-2 reached 2,200m, intersecting the primary-objective Upper Laurel gas sands on prognosis with good-to-excellent gas shows and poor-to-fair oil shows, similar to Valhalla-1ST1.
30 June 2011drilling progress report● Neutral
Valhalla-2 reached 2,008m; wireline logs and samples on Anderson Sands oil shows (not the well's primary objective) suggested the hydrocarbons are likely residual, pending further analysis.
23 June 2011drilling progress report● Neutral
Valhalla-2 reached 1,696m, approaching the Anderson Sands and Upper Laurel gas sands where a drill-stem test is planned, en route to a prognosed 3,400m total depth.
16 June 2011drilling progress report● Neutral
Valhalla-2 reached 862m (casing at 854m) with minor oil shows across the Noonkanbah and Grant Formations (120-835m).
9 June 2011drilling progress report▲ Good
Valhalla-2 (spudded 6 June, first well of the 2011 Buru-Mitsubishi program) reached 604m with oil shows in the Noonkanbah Formation (120-490m) consistent with those seen in Valhalla-1 in 2007, heading toward a 900m casing point.
7 June 2011drilling spud▲ GoodMajor
Valhalla-2 spudded at 12:00hrs on 6 June 2011, the first well of the 2011 Buru-Mitsubishi Joint Exploration Program (Mitsubishi carrying 80% of cost), testing conventional and unconventional gas reservoirs following up on shows seen in a 2007 ARC Energy well that was never flow tested - combined P50 potential of roughly 320 Bcf of gas and 10 million barrels of condensate across the targets.
1 June 2011resource reserve update▲ GoodMajor
Independent consultants NSAI, plus Buru's own analysis, put combined mid-range unrisked in-place volumes across four key unconventional Canning Basin plays (Laurel, Noonkanbah, Frasnian, Nita-Goldwyer Formations) at 362 Tcf of gas and 50 billion barrels of oil, with mid-range recoverable resources of 66 Tcf and 4 billion barrels - the most prospective being the Laurel Formation tight gas play at 50 Tcf recoverable, which Buru said also looked likely to carry significant associated liquids based on Yulleroo-2's flowback.
27 May 2011resource reserve update▲ GoodMajor
RISC's independent assessment estimated a mean 352 PJ of ultimately recoverable sales gas plus 13.4 mmboe of liquids in the Yulleroo field (EP391), with 36 mmboe net to Buru's 50% interest.
19 May 2011drilling scheduled▲ GoodMajor
Rig-up began at Valhalla-2, the first well of the 2011 Buru-Mitsubishi Joint Exploration Program, targeting over 300 Bcf of recoverable gas (P50) as a follow-up to gas/oil zones seen in the earlier Valhalla-1 well - a result Buru said could become a cornerstone resource for its planned Great Northern Pipeline; Sundown oilfield well workovers also began in parallel.
28 Apr 2011drilling scheduled● Neutral
Buru's Ensign Rig #32 began mobilising to the Canning Basin for the 2011 Buru-Mitsubishi Joint Exploration Program, with the first well (expected to be the Valhalla-2 appraisal well) due to spud mid-to-late May; Buru also signed a Letter of Intent for a second rig, Century Rig #7, to drill up to four further wells the same season.
15 Dec 2010drilling progress report● Neutral
Paradise-1's drill-stem test recovered formation water with oil traces from the Lower Grant Formation; the well was cased and suspended for the wet season pending analysis.
13 Dec 2010drilling progress report▼ Bad
Equipment failures delayed the open-hole drill-stem test of Paradise-1's oil zone for a second consecutive report, while Yulleroo-2 continued recovering frac fluid (about 3,200 barrels to date) during its extended clean-up flow.
9 Dec 2010drilling progress report● Neutral
A first attempt to formation-test Paradise-1's interpreted oil zone by wireline tool failed due to well-bore conditions; Buru switched to an open-hole drill-stem test while Yulleroo-2's post-frac clean-up flow continued to recover gas and frac fluid.
6 Dec 2010drilling progress report▼ Bad
Nangu-1 reached 1,049m with no hydrocarbons evident and looked headed for plug-and-abandonment pending logging confirmation; the EP438 JV partners declined to approve a planned follow-up Cyrene-1 well with the same rig.
6 Dec 2010drilling progress report● Neutral
Paradise-1's drill-stem tests of the interpreted oil zone repeatedly failed on packer-seal issues (though tools recovered oil-coated each time), prompting a mechanical review before deciding between another DST, fluid sampling, or an alternative test.
2 Dec 2010drilling progress report● Neutral
A recap update on Nangu-1's Grant Formation wet-gas objective as drilling continued, alongside Paradise-1 as the two wells of Buru's 2010 Mitsubishi-backed program.
2 Dec 2010drilling progress report▲ GoodMajor
Paradise-1 reached its 1,700m casing point; wireline logs and sidewall cores identified an anomalous hydrocarbon-indicated zone at 904-914m (best reservoir quality 904-909m) - the zone that would later be flow-tested.
29 Nov 2010drilling progress report● Neutral
Nangu-1 (spudded 28 November, Mitsubishi funding 80%) reached 310m, targeting wet gas in the Grant Formation sands (P50 estimate 1 MMbbl condensate/15 Bcf gas) updip from a 1965 well with good shows.
25 Nov 2010drilling progress report● Neutral
Paradise-1 reached 1,474m with continued mud losses and oil still observed on the shakers ahead of the first primary objective.
25 Nov 2010drilling scheduled● Neutral
Rig-up began at Nangu-1, the 2010 campaign's fourth well and the second under the Mitsubishi Joint Exploration Program, targeting a modestly-sized wet gas/condensate structure Buru said could open up a regional gas-gathering project if successful.
18 Nov 2010drilling progress report● Neutral
Paradise-1 reached 1,119m with continued (partially cured) lost circulation; oil was still being observed on shakers and drill pipe, though its origin and significance remained unclear.
8 Nov 2010drilling progress report▲ Good
Yulleroo-2's three planned stimulation zones (3,100m/2,980m/2,850m) were all completed with no problems; the well flowed unaided for 16 hours before being shut in for wireline logging as part of the standard clean-up process.
5 Nov 2010drilling progress report▲ Good
Paradise-1 drilling resumed after curing lost-circulation zones, while Yulleroo-2's first two frac stages showed encouraging pressure signs (wellhead pressure over 4,500 psi) ahead of a planned flow test.
4 Nov 2010drilling progress report▼ Bad
Paradise-1 reached 924m with no returns to surface; cement plugs were run to cure lost circulation in the Grant Formation.
1 Nov 2010drilling progress report● Neutral
Yulleroo-2's stimulation program began, perforating the first of three zones (3,100m) under the Buru-Mitsubishi Joint Exploration Program (Mitsubishi funding 80% of costs).