Buru Energy books 15.25 MMboe maiden reserves
- Buru Energy has declared a maiden 2P reserve assessment of 15.25 MMboe for its Rafael gas-condensate field in Western Australia.
- The independent validation establishes a commercial foundation aimed at facilitating future project financing and partner negotiations.
- The company is advancing economic modelling for an initial two-well modular development targeting first sales by early 2029.
Buru Energy (ASX:BRU) has announced an independent maiden assessment confirming 15.25 MMboe of proved and probable reserves at its 100% owned Rafael gas-condensate field in Western Australia.
The total 2P reserves figure includes 65.7 Bscf of sales gas and 2.9 MMstb of condensate, establishing a baseline contrast to previous uncertified resource estimates.
"The Rafael Reserves result is a landmark for Buru and a major step for the Rafael Gas Project," said Buru Energy Executive Chair David Maxwell.
The company stated that the asset also holds 21.24 MMboe of additional 2C contingent resources while targeting initial commercial sales by early 2029 through a two-well modular development.
Following the announcement the Buru Energy share price was unchanged at $0.014.
The Rafael asset is located within permit EP428 in the onshore Canning Basin and represents the primary focal point of the firm's commercial development strategy.
Beyond the core field, the operator is continuing evaluation work on nearby exploration prospects, including the T30 sand and Flying Fox targets.
