Strike on track to deliver Perth Basin oil and gas well

• Easternwell 106 Drill Rig begins departing Queensland for Western Australia to drill the West Erregulla-2 well in the Perth Basin
• EW106 is one of Australia’s largest rigs with high-tech features
• Drilling of the West Erregulla-2 well will commence at the end of May 2019

Strike Energy Limited and Joint Venture partner Warrego Energy, have announced civil construction works are officially complete and the West Erregulla-2 well site is ready to receive the Easternwell 106 drilling rig.

The Company signed a contract with Easternwell for the provision of its drilling services in the Perth Basin, where the West Erregulla-2 well site is located. The contract involves using the 106 drilling rig to drill 5,200 metres into the West Erregulla-2, which is considered to be one of the biggest conventional targets in Australia.

The EW106 rig has a mast capacity of 750,000 pounds, 1,600-barrel mud system, and three 1,600 horsepower mud pumps. The EW106 is one of the largest rigs in Australia and considered to have world-class technology with enhanced mobility, unparalleled control, drilling hydraulics, enhanced safety, and environmental features.

The aim is to drill into three independent targets which include a conventional oil prospect in the Cattamarra, a conventional gas target in the Basal Wagina sandstones and the primary gas sand sequence in the Kingia High Cliff.

Recently, the Company discovered the West Errefulla prospect may be similar to the Waitsia gas field which is located 16 kilometres west. Waitsia is one of the largest onshore conventional gas discoveries in Australia with just under 770 billion cubic feet of gas. New data indicated that West Erregulla has similar geophysical attributes.

Operations are on track and underway with digging of the well to commence this month.

Please see the ASX announcement for further details