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Buru Energy (ASX:BRU) - Executive Chairman, Eric Streitberg - The Market Herald
Executive Chairman, Eric Streitberg
Source: HotCopper
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  • Buru Energy (BRU) is mobilising a drill rig to its Currajong 1 well site in northern Western Australia ahead of a spudding program in mid-June
  • The transport of equipment from Origin Energy's Kyalla well in the Northern Territory is expected to take roughly two weeks
  • Currajong 1 is the first of two wells to be drilled under a farm-in agreement with Origin Energy, which was signed in December last year
  • The second well, Rafael 1, will be drilled in either late July or early August
  • Buru Energy is up 3.33 per cent to $0.16. per share

Buru Energy (BRU) is mobilising a drill rig to its Currajong 1 well site in northern Western Australia ahead of a spudding program in mid-June.

The transport of equipment from Origin Energy's Kyalla well in the Northern Territory is expected to take roughly two weeks, with the first 14 loads scheduled to arrive at Currajong today.

Preparatory work at Currajong — 30 kilometres west of the Ungani production facility — was completed last week with the installation of a rig pad liner, as well as bases for the cuttings sump.

Buru says the site camp is also nearing completion, and will be located on the well pad rather than at Ungani to minimise travel times for the crew.

"The drilling program is on track with the careful preparation and planning and contract negotiation and execution completed, and equipment being mobilised to the field," said Executive Chairman Eric Streitberg.

"This program represents a new beginning for exploration in the Canning Basin with the potential for discovery of nationally significant quantities of oil if the drilling program is successful in a strong oil price environment."

Currajong 1 is the first of two wells to be drilled under a farm-in agreement with Origin Energy, which was signed in December last year. The second well, Rafael 1, will be drilled in either late July or early August.

Initial work on the Rafael well pad and access road has already been completed and personnel will be mobilised to site in the coming weeks.

Buru Energy is up 3.33 per cent to $0.16. per share at 10:28 am AEST.

BRU by the numbers
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