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Strike Energy (ASX:STX) - CEO & Managing Director, Stuart Nicholls (right) - The Market Herald
CEO & Managing Director, Stuart Nicholls (right)
Source: Energy News Bulletin
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  • Strike Energy (STX) is keeping busy at West Erregulla Project in WA, where it’s continuing work at the WE4 well
  • The company recently ran a wireline data acquisition campaign to assess the Dongara and Wagina Sandstones targets — the project’s secondary and tertiary targets, respectively
  • The new wireline data has confirmed a large gas column, but preliminary analysis suggests reduced net pay and lower overall permeability
  • Looking forward Strike is continuing to drill at WE4 to the top of the primary target, at which point it will bring down equipment to commence coring operations
  • Strike Energy has opened down 6.06 per cent at 31 cents per share

Strike Energy (STX) is keeping busy at West Erregulla Project in WA, where it’s continuing work at the WE4 well.

It’s been an active month at the oil and gas project, which is split evenly between Strike and joint venture partner Warrego Energy (WGO).

Earlier in March, Strike cemented a casing at the well and also drilled through the Dongara and Upper Wagina to 4248 metres downhole.

Following up on that work, the company has now successfully run wireline data acquisition campaign to assess the Dongara and Wagina Sandstones targets — the project’s secondary and tertiary targets, respectively.

After pulling in the new data, Strike has run in hole with the drilling assembly and restarted drilling. Thus far, drilling at WE4 has gone 4400 metres deep.

The new wireline data has confirmed a large gas column, but a preliminary read of the findings is suggesting reduced net pay and lower overall permeability.

According to Strike, it had anticipated these conditions at the edge of the gas field, as it selected the WE4 well’s location to optimise access to the project’s primary targets — the Kingia and High Cliff sandstones — and not to isolate the best reservoir available.

The rest of the data from the wireline is now being incorporated into the company's overall geological model for the project.

Looking forward, Strike continues to drill at WE4 to the top of the primary target, at which point it will bring down equipment to commence coring operations.

The company has also outlined an upcoming appraisal campaign at the project. Through the campaign, three appraisal wells will be drilled to around 5000 metres to assess the reservoir distribution in the central fault block.

Strike Energy has opened down 6.06 per cent at 31 cents per share at 10:16 am AEDT.

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