Announcement PDF ASX Release ABN 71 130 651 437 Level 2, 88 William Street Perth, Western Australia 6000 Ph: +61 8 9215 1800 Fax: +61 8 9215 1899 www.buruenergy.com 8 October 2015 Weekly Drilling Report Victory 1 Exploration Well Buru Energy Limited (Buru Energy) provides the following weekly update on drilling operations at the Victory 1 well as at 06:00hrs, 8 October 2015 (AWST). Since the last progress report, the well has been drilled ahead in 6-1/8” (156mm) hole to a depth of 1,893 metres, wireline logs have been completed and 5-1/2” (140mm) casing is currently being run prior to drilling ahead in 4-3/4” (121mm) hole into the prognosed primary objectives. Victory 1 is located in exploration permit EP 457, 185 kms east of Broome and 85 kms southeast of Buru Energy’s producing Ungani Oilfield. Equity and contributing interests in the well are as follows: Company Buru Energy Mitsubishi Corporation Rey Resources Equity Interest 37.5% 37.5% 25.0% Contributing Interest 41.67% 41.67% 16.67% Visit www.buruenergy.com for information on Buru Energy’s current and future activities. For inquiries please contact Buru Energy: Telephone: +61 8 9215 1800 Freecall: 1800 337 330 Email: info@buruenergy.com About Buru Energy Buru Energy Limited (ASX: BRU) is a Western Australian oil and gas exploration and production company headquartered in Perth with an operational office in Broome. The Company’s petroleum assets and tenements are located onshore in the Canning Basin in the southwest Kimberley region of Western Australia. Its flagship high quality conventional Ungani oil field project is owned in 50/50 joint venture with Mitsubishi Corporation. As well as Ungani, the Company’s portfolio includes potentially world class tight gas resources. The company’s goal is to deliver material benefits to its shareholders, the State of Western Australia, the Traditional Owners of the areas in which it operates, and the Kimberley community, by successfully exploring for and developing the petroleum resources of the Canning Basin in an environmentally and culturally sensitive manner. Competent Persons Statement Information in this release related to exploration and production results and petroleum resources is based on information compiled by Eric Streitberg who is an employee of Buru Energy Limited. Mr Streitberg is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors, and a member and Certified Petroleum Geologist of the American Association of Petroleum Geologists. He has over 40 years of relevant experience. Mr Streitberg consents to the inclusion of the information in this document. 1 ASX Release Victory 1 Weekly Drilling Report PERMIT The Victory 1 well is located in exploration permit EP 457, 185 kilometres to the east of Broome and 85 kilometres southeast of the Ungani Oilfield. WELL LOCATION Latitude: Longitude: BURU ENERGY’S INTEREST Buru Energy Limited holds a 37.5% interest in the well DATE OF PROGRESS REPORT 06:00 hours, 8 October 2015 (AWST) PROPOSED TOTAL DEPTH Maximum 2,600 metres CURRENT DEPTH 1,893 metres PROGNOSED TIME TO COMPLETION 33 days SPUD DATE 9 September 2015 DAYS SINCE SPUD 29 days CURRENT TARGET FORMATION The primary well objectives are conventional hydrocarbons in the Laurel lower clastics and carbonate (Ungani Dolomite); and Upper Devonian (Nullara) carbonates. OPERATIONS SINCE LAST PROGRESS REPORT Since the last progress report, the well has been drilled ahead in 6-1/8” (156mm) hole to a depth of 1,893 metres, wireline logs have been completed and 5-1/2” (140mm) casing is currently being run prior to drilling ahead in 43/4” (121mm) hole into the prognosed primary objectives HYDROCARBON INDICATIONS Minor hydrocarbon indications were noted in what are interpreted from wireline logs to be tight sands of the Grant Formation. The significance of these shows will be fully evaluated once the well is completed. FORWARD OPERATIONS Once current casing operations are completed the well will be drilled ahead in 4-3/4” (121mm) hole into the prognosed primary objectives. 180 15’ 10.0” S 1230 55’ 37.1” E Victory 1 Location Map Easting: Northing: 597,994 m 7,981,599 m Atlas Rig #2 2