Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Strike Energy (STX) has been successful in its bid for the last remaining unheld acreage in the Permian Gas Fairway, north of Perth
  • The block, L20-3, was granted in the WA 2020 acreage release and adds to the company’s holdings in the Perth Basin which already includes West Erregulla
  • The new acreage is adjacent to infrastructure, notably the Parmelia and Dampier to Bunbury pipelines, and is also subject to a land-use agreement
  • Strike shares are in the grey at 30.5 cents

Strike Energy (STX) has been successful in its bid for the last remaining unheld acreage in the Permian Gas Fairway, north of Perth.

The block, L20-3, was granted in the WA 2020 Petroleum Acreage Release 1 and adds to the oil and gas explorer’s holdings in the Perth Basin.

The Perth Basin Permian Gas Fairway has, to date, yielded more than three trillion cubic feet of discoveries, including Strike Energy’s West Erregulla gas field.

“The award of this exciting acreage is acknowledgement of Strike’s developing position in Western Australia as a future domestic energy and fertiliser supplier,” said Managing Director and CEO Stuart Nicholls.

“The addition of this block almost completes the connection of Strike’s acreage, making a contiguous landholding from North to South. This position in the Basin is adjacent to the North/South extensional faults which provide the primary route for hydrocarbon migration across the basins various plays.”

“Strike looks forward to progressing further interpretation and reprocessing of data over Eneabba Deep in the immediate future, which will support an initial estimation of a potential resource size,” he added.

The new acreage is surrounded by gas discoveries: the Permian Beharra Springs couples, the West Erregulla field, the Permian Woodada field and the Ocean Hill Jurassic wet gas discovery.

Block L20-3 is also adjacent to infrastructure, notably the Parmelia Pipeline and the Dampier to Bunbury Natural Gas Pipeline, and is already subject to the Yamatji Nation Land Use agreement, meaning Strike will not need to secure a Native Title agreement.

Strike shares are in the grey at 30.5 cents at 10:25 am AEDT.

STX by the numbers
More From The Market Herald

" Melbana Energy (ASX:MAY) prepares for drilling in Cuba

Melbana Energy (MAY) has announced it will resume drilling at its Alameda-1 well in the block nine area, onshore Cuba after shutting earlier
1414 Degrees (ASX:14D) - COO, Dr Jordan Parham

" 1414 Degrees (ASX:14D) granted development approval variation

1414 Degrees (14D) has been granted a variation to its existing development approval for its Aurora Energy Project.

" Galilee Energy (ASX:GLL) appoints David Casey as Managing Director

Galilee Energy (GLL) has appointed an experienced coal seam gas expert as its new Managing Director.

" Metgasco (ASX:MEL) completes well testing at Odin-1

Metgasco (MEL) has completed its two-phase testing program at the Odin-1 well in Queensland’s Cooper Basin.