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Strike Energy (ASX:STX) - Managing Director & CEO, Stuart Nicholls
Managing Director & CEO, Stuart Nicholls
Source: Strike Energy
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  • Strike Energy (STX) and Talon Energy (TPD) drill the Walyering-5 well in the Perth Basin to its maximum depth of 3435 metres eight days ahead of schedule
  • Strike, which operates the well, says it observed elevated mud gas levels, low weight on bit penetrations, and well-sorted, course grain cuttings in the A Sand section of the well
  • The company found similar conditions in the B Sand section, while several additional deeper sands with elevated mud gas reading were also hit, interpreted ot be the C Sands
  • Strike says it has now pulled out of the hole and kicked off wireline logging operations to determine the significance of the observations made during drilling
  • Shares in Strike Energy were down 3.12 per cent to 16 cents each at 10:21 am AEDT

Strike Energy (STX) and Talon Energy (TPD) have drilled the Walyering-5 well in the Perth Basin to its maximum depth of 3435 metres eight days ahead of schedule.

Strike today told investors its drilling struck the primary targets in the A and B Sand of the Cattamarra Coal Measures (CCM). Strike said it observed elevated mud gas levels, low weight on bit penetrations, and well-sorted, course grain cuttings in the A Sand.

The company struck similar conditions in the B Sand.

Further, Strike said it also encountered several additional deeper sands with “elevated” mud gas readings. The company is interpreting these readings to be the C Sands area of the well.

The well reached its total depth in just 13 days even as Strike completed two casing runs and drilled an additional 235 metres of hole in the final section of the well.

Strike said it had now pulled out of the hole and kicked off wireline logging operations to determine the significance of the observations made during drilling.

Specifically, the company’s first course of action will be to acquire a suite of wireline logs over the target reservoirs before taking on some casing and cementing in the hole.

Strike Energy acts as the operator of Walyering-5 and owns 55 per cent of the well in a joint venture with Talon Energy.

According to the companies, the Walyering wet-gas field lies between Western Australia’s two major gas transmission lines, linking the field with WA’s industrial gas markets.

Shares in Strike Energy were down 3.12 per cent to 16 cents each at 10:21 am AEDT. At the same time, Talon Energy shares were grey at 0.8 cents each.

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