Ungani Oil Field

Asset overview Ungani Oil Field and surrounding exploration permits

Location

Onshore Canning Basin, Western Australia

325km2 production licenses: L20 and L21

11,111km2 exploration permits: EP391, EP428 and EP436 (transaction pending completion)

~100km east of Broome

Operator

Buru Energy Limited

JV partners and interests

Roc Oil (Canning) Pty Limited

50%

Buru Energy Limited (Operator)

50%

Status

Early stage producing oil field, currently producing gross 2,000 bopd . The Ungani field is producing high quality (37 deg API) crude from four wells tied back to a centrally located production facility for simple separation and storage. Oil is trucked to an export terminal at Wyndham (1000km away), stored in tanks and exported by ship.

The production licenses include appraisal potential at the Ungani Far West and Ungani North discoveries.

The joint venture is planning an exploration drilling program of up to four wells in 2018/19 including the Ungani Dolomite conventional oil prospects at Kurrajong and Ungani West. The DDGT1 rig is stacked on location and is being refurbished / maintained for program start up in 3Q2018.
 First Production July 2015 from two wells.  Two additional wells drilled late 2017 and commenced production in May 2018.
 Geology The assets are located in the Fitzroy Trough of the onshore Canning Basin.  The main oil play is Carboniferous dolomite conventional reservoirs of the Lower Laurel Formation in fault and dip-closed structures, sealed by Laurel marine shales.  There is also hydrocarbon potential in the overlying Carboniferous to Early Permian clastic reservoirs.
 History On 21 May 2018, ROC agreed to buy a 50% interest in the Ungani production licenses from Buru, subject to government approval.

On 21 May 2018, ROC agreed to acquire 50% interest in three exploration permits from Buru, by funding part of an exploration program of up to four wells. The transaction is conditional on ratification (by an Act of Parliament of WA) of the Termination Agreement dated 27 November 2017 which gives effect to the termination of the State Agreement dated 7 November 2012.

The transaction excludes the unconventional gas potential in the Laurel Formation. Buru retains 100% ownership of the Yulleroo tight gas field.