Investor Presentaiton
8
RAFAEL FIELD APPRAISAL PROGRAM
Rafael 1 Test
Flow testing demonstrated excellent quality gas with less than 2% inerts (CO2) and rich
condensate with no pressure depletion or reservoir boundaries observed.
Rafael 3D seismic survey acquisition completed
Will provide confirmation of the size of the structure and improve understanding of the
trapping mechanism and potential column height.
Processing deliverables:
- Fast track interpretation – late Nov'23
- Final processing - End Feb'24
3D seismic is essential for optimal placement of the wells to reduce geological and drilling risk.
Up to 2 Appraisal wells
In planning phase for 2024 drilling to address the main subsurface uncertainties (hydrocarbon
column height and net/gross distribution).
Long Lead Item procurement to safeguard drilling in 2024.
Rafael 1 recompletion and test
2022 flow test restricted to part of one zone because of well configuration.
Test two additional zones and retest initial zone with confidence of increased flow rates.
Test program planned to include perforation of additional intervals currently behind casing
where gas flows were encountered while drilling, and the Prospective Resource zone in the
Upper Laurel with interpreted rich gas condensate or volatile oil pay.
Completed - Well test
with flow from
restricted zones
3D seismic
Commercialisation
options
Resource re-evaluation
Commercialisation pre-
FEED
Appraisal drilling
Rafael 1 workover Test
all zones open
Resource confirmation
Commercialisation
Feed
1
1C
2C
3C
Investor Presentation | November 2023
Buru EnergyView entire presentation