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Strike Energy (ASX:STX) - Managing Director & CEO, Stuart Nicholls - The Market Herald
Managing Director & CEO, Stuart Nicholls
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  • Strike Energy (STX) observes gas flows to surface from a perforation conducted at the West Erregulla 5 well in the base of the Kingia Sandstone
  • The perforation was made over a six-metre interval at the bottom of the Kingia Sandstone pay zone, at a depth of up to 6647 metres
  • The company says the sustained gas flow demonstrates gas charge and moveable hydrocarbons
  • Strike is now set to begin its second perforation and conduct a full flow testing program at WE5, before suspending the well as a future producer for the proposed next development of the West Erregulla gas field
  • Strike Energy last traded at 29 cents on July 28

Strike Energy (STX) has observed gas flows to surface from a perforation conducted at the West Erregulla 5 well in the base of the Kingia Sandstone.

The perforation was made over a six-metre interval at the bottom of the Kingia Sandstone pay zone, at a depth of up to 6647 metres. These perforations were intentionally placed below the interpreted gas-water contact inferred by Strike’s joint venture partner, Warrego Energy (WGO).

The company says the sustained gas flow established from the limited section of reservoir demonstrates gas charge and moveable hydrocarbons around 15 metres below the water bearing sand units at WE4.

Strike says the gas flows at these depths provide further weight and evidence to the presence of a small, perched water lens at WE4 as being the source of the anomalously fresh water produced during a production test.

The company says these initial WE5 flow test observations provide further support for the notion that gas water contact of the West Erregulla gas field has not been observed in the drilling to date, and likely lies at a depth of around 4720 metres.

Strike says it will now begin its second perforation and conduct a full flow testing program at WE5, before suspending the well as a future producer for the proposed next development of the West Erregulla gas field.

Strike Energy last traded at 29 cents on July 28.

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