Buru expands Canning permits

Canning basin: Buru Energy is one step away from finalising an expansion of its interests in the area, in Western Australia's Kimiberley region.

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Andrew Hobbs

, Andrew Hobbs

 11 October 2011 09:16 GMT

Australian company Buru Energy has been named the preferred applicant for two petroleum exploration permits in Western Australia’s Canning basin, the company has announced.

Buru said it had been offered the L10-7 and L10-8 onshore permits, south of Fitzroy Crossing, by the Western Australian Department of Mines and Petroleum following a competitive bid process.

Final award of the permits is subject to negotiations with traditional landowners.

In an announcement to the Australian Securities Exchange, the company said the permits would increase its exposure to exploration trends identified in the Paradise-Valhalla area to the north in EP 371.

It would also bring Buru’s net equity acreage position in the basin to about 48,000 square kilometres, over land company executive…

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