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Strike Energy (ASX:STX) - Managing Director & CEO, Stuart Nicholls
Managing Director & CEO, Stuart Nicholls
Source: Business News
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  • Strike Energy (STX) continues to progress its activities at the West Erregulla appraisal campaign in Western Australia
  • The company has now completed the wireline logging at WE5 and collected pressure and fluid samples
  • This logging has confirmed high-quality gas charged at King Sandstone
  • Over at WE4, clean-up flows have been strong to date and formal testing is expected to commence shortly
  • Strike last traded at 32 cents per share

Strike Energy (STX) has further progressed its activities at West Erregulla appraisal campaign in Western Australia.

The campaign includes three appraisal wells drilled at the West Erregulla field within the EP469 joint venture, in which Strike and Warrego Energy (WGO) each own a 50 per cent stake.

Strike has now completed the wireline logging at WE5 and collected pressure and fluid samples. This logging has confirmed high-quality gas charged at King Sandstone.

Notably, the pressures that have been measured were above 7000 gauge pressure, which is positive for the future production potential of the interval and is also slightly higher than the company expected.

Over at WE4, clean-up flows have been strong to date and formal testing is expected to commence shortly.

Due to border controls in Western Australia, crew movement has been limited and some minor delays have been encountered. These restrictions are expected to have minimal impact on the overall schedule.

On the market, Strike last traded at 32 cents per share.

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