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Strike Energy Provides Jaws Operation Update

THE BOWSER: Strike Energy is progressing work at the Jaws-1 project wells, located at the Southern Cooper Basin Gas Project (SCBGP) Joint Venture (Strike Operator and 66.67 per cent, Energy World Corporation 33.33 per cent).

Strike Energy said it has continued carefully drawing the wells down towards desorption and the flowing bottom hole pressure has now reached 250psi.

Sustained gas production has continued and is slowly building as further water is removed and more coal around the wellbore is depressurised.

The company is now setting pump rates to maintain the 250psi pressure in the wellbore and allow the desorption front to gradually propagate outwards into the reservoir.

Current water rates of 450 barrels per day show continuing strong reservoir productivity, with a natural decline in water anticipated over time as more coal transitions from water to gas production.

 

Email: strike@strikeenergy.com.au

Website: www.strikeenergy.com.au

 

Strike Energy Continues Drilling at West Erregulla-2

THE BOWSER: Strike Energy (ASX: STX) provided an update on drilling of the company’s West Erregulla-2 oil target.

Strike Energy is drilling West Erregulla-2 in EP 469, which is adjacent to and targeting analogous Permian gas sands of a similar size and nature as the Waitsia gas discovery.

The company plans to frill to a total depth of 5,200 metres and penetrate a further two independent reservoir targets.

These include a conventional gas target in the Basal Wagina sandstones and the primary gas sand sequence in the Kingia High Cliff.

Strike Energy has continued to drill the first intermediate section with the hole currently nearing section TD.

The company said its rate of progress has improved over this section during the under-reaming and the well remains on schedule and within budget.

During the latter part of drilling this section Strike passed through the tertiary Cattamarra oil target.

The company said that although hydrocarbon shows and elevated mud gas readings (including all heavy hydrocarbon components) were evident at the prognosed depth, it considered these were insufficient to warrant the running of advanced wireline logging and testing.

The company said the hydrocarbon shows are supportive of the Cattamarra geological model in this low POS target, and will strongly assist in calibrating the amplitude response to both hydrocarbons and good quality reservoir for future Cattamarra activities.

Looking ahead, Strike will complete drilling the hole section towards the nominal 2,550m TD or when suitable 11-3/4” casing setting formation is intercepted allowing casing to be run into hole and cemented in place at section TD.

Strike will begin drilling a second 10-5/8” intermediate section to a nominal 4,230m.

The Basal Wagina, a secondary conventional gas prospect, will also be intercepted in the next section.

Strike Energy is the operator and the holder of a 50 per cent Joint Venture interest in EP469, and Warrego Energy (ASX: WGO) the holder of the other 50 percent JV interest.

 

Email: strike@strikeenergy.com.au

Website: www.strikeenergy.com.au