Buru Energy Limited (AU:BRU) has released an update.
Buru Energy Limited has reported continued progress in the first quarter of 2024, identifying a new, highly prospective geological structure called the Rafael Shallow prospect within Exploration Permit EP 428. Planning for drilling in the 2024 operating season is underway to capitalize on this prospect, which offers considerable potential for enhancing the company’s asset value. Meanwhile, additional technical work is required for the Rafael gas and condensate discovery before securing a development partner, leading to the deferral of appraisal activities to 2025.
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