BURU ENERGY LIMITED — Capital/Financing Update 2017

Sep 25, 2017

ASX Release

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26 September 2017

Operations Update

Workover and drilling program on schedule

• Mobilisation of the DDGT1 rig is on schedule with well operations due to commence on 1 October

• The drill camp is operational at the Ungani site

• Ungani production to be shut-in tomorrow as planned for approximately 18 days while the wells are worked over

• Ungani Phase 2 work being undertaken during shut-in period

DDGT1 rig and well workover program ASX: BRU The DDGT1 rig has completed the pre-drill maintenance program and is being mobilised from Onslow to Ungani with the mobilisation currently 50% completed. The drill camp has been mobilised and is operational at the Ungani production site.

The DDGT1 rig will first be positioned over the Ungani 1 well and will pull the current completion prior to running in the tubing string containing the electric submersible pump. Once this operation is completed the rig will undertake the same program on Ungani 2. The overall program for the two wells is expected to take approximately 18 days.

As part of the program, additional perforations will be undertaken on the upper part of the Ungani 2 reservoir where a revised log interpretation suggests there is bypassed oil pay. If successful, this operation will provide additional flow potential and the potential for the recovery of local attic oil.

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Road train departing Onslow area with rig equipment

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Contact us T +61 8 9215 1800 | E info@buruenergy.com | PO Box 7794, Perth Cloisters Sq WA 6850 | ABN 71 130 651 437

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Drill Camp at Ungani Facility Contract rig setting conductor for Ungani 5

Ungani Phase 2 work:

The Ungani wells will both be shut-in while the workovers are undertaken. Work on the facility during the shut-in period will include installation of the power supply and electrical systems for the electric submersible pumps (ESP’s), and the tie-in spools for the ESP installation and future facility debottlenecking. Bunding work for the new tanks will also be part of the Phase 2 works, with the new tanks expected to be commissioned in November.

Program Timing and further information:

The overall program timing remains on track with Ungani 4 expected to spud in the week commencing 16 October.

Regular weekly reports on well activities will commence on Tuesday 3 October.

Buru’s Executive Chairman Eric Streitberg said:

“It has been a big effort for the team to get us to the start of the program in record time. In the last month we have put all our approvals in place, mobilised the rig, and of course raised the money to undertake this program.

The initial workover program to run the pumps in the existing wells should allow us to maintain and hopefully increase production from those wells, and successful wells at Ungani 4 and 5 will put us on the road to our target of 3,000 barrels of oil a day early next year.”

Visit www.buruenergy.com for information on Buru Energy’s current and future activities.

For investor inquiries please contact Buru Energy: Media Enquiries: Telephone: +61 8 9215 1800 Paul Armstrong Freecall: 1800 337 330 Read Corporate Email: info@buruenergy.com +61 8 9388 1474

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Contact us T +61 8 9215 1800 | E info@buruenergy.com | PO Box 7794, Perth Cloisters Sq WA 6850 | ABN 71 130 651 437