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Strike Energy (ASX:STX) - CEO & Managing Director, Stuart Nicholls - The Market Herald
CEO & Managing Director, Stuart Nicholls
Source: The West Australian
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  • Oil and gas explorer Strike Energy (STX) has been granted two permits for South Erregulla, with a third permit expected shortly
  • The WA Department of Mines, Industry Regulation and Safety granted Strike the exploration permits EP503 and EP504, with EPA98 expected to convert shortly
  • Now it's been granted permits, STX will carry out a 2D seismic survey across the South Erregulla region in the Perth basin
  • The company has assigned Velseis Seismic to run the survey, which is due to kick off sometime in the next six months
  • This survey will help identify a potential well location on the South Erregulla structure
  • Shares in STX are trading at 1.56 per cent at 32.5 cents each

Oil and gas explorer Strike Energy (STX) has been granted two permits for South Erregulla, with a third permit expected to convert soon.

Strike advises that the WA Department of Mines, Industry Regulation and Safety granted Strike the exploration permits EP503 and EP504.

The company is also expecting EPA98 to convert shortly after Government processes are completed.

Following the permits being granted, STX will carry out a 2D seismic survey across the South Erregulla region in the Perth Basin.

The company assigned Velseis Seismic to run the survey, which is due to kick off sometime in the next six months.

This survey will help identify a potential well location on the South Erregulla
structure for later this year.

"With the grant of these permits, Strike is now ready to commence a very exciting resource addition campaign where seismic crews and subsequent drilling slots are already identified and booked," CEO Stuart Nicholls said.

"It is still early days in understanding the sheer magnitude of discoverable gas in the Permian Gas Fairway of the Perth Basin," he added.

"Discoveries at Waitsia, West Erregulla and Beharra in combination with new insights from Strike’s appraisal program and regional seismic evaluation
are indicating multi-TCF upside in Strike’s Greater Erregulla permits alone," he concluded.

Shares in Strike Energy are trading up 1.56 per cent at 32.5 cents each at 11:05 am AEDT.

STX by the numbers
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