Buru Energy Limited (ASX: BRU) is pleased to report the company has contracted with Terrex Pty Ltd to conduct a 3D seismic survey primarily inside exploration permit EP 428, which encompasses the Rafael conventional gas and condensate discovery and is 100% controlled and owned by the Company.
Buru Energy Limited stated Four 2D seismic lines will be conducted entirely within EP 457, providing valuable data to inform prospect maturation and potentially allowing for future backfill opportunities for the Rafael development. The survey area will also extend into exploration permit EP 457 (Buru 60% and Operator, Rey Oil and Gas Pty Ltd 40%). It is anticipated that the survey, along with any necessary fieldwork, will take 8 weeks to complete.
Buru Energy went on to say to facilitate prompt planning and permissions for the 2024 field activities and to continue conversations with prospective Joint Venture partners, contracts were additionally entered into for the processing of the massive amounts of data that will be generated by the survey.
Extraction of finer details and geophysical properties from the data will require a second, parallel phase of processing that makes use of more advanced and time-consuming procedures.
Thomas Nador, CEO of Buru, commented on the findings, saying:
We are delighted to have executed the contract with Terrex for the Rafael 3D seismic survey. Terrex is a company with a strong track record of seismic operations in Australia, experience in the Canning Basin and experience with Buru on previous survey campaigns.
Acquiring 3D seismic data over the Rafael structure is the highest impact, highest value, and most cost-effective activity we can do today to de-risk the subsurface, inform our 2024 appraisal drilling program, underpin our ongoing project development work, and create new partnership opportunities for the Rafael development.
