Talon Energy (ASX:TPD) - CEO, David Casey
CEO, David Casey
Source: Talon Energy
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  • Talon Energy (TPD) and joint venture partner Strike Energy (STX) complete site works at the Walyering-5 well in the onshore Perth Basin, Western Australia
  • TPD says it is waiting for the the drill rig to arrive from the Lockyer Deep well before work can begin at Walyering
  • Once the rig is released, Talon says it could take two weeks for the equipment to arrive and undergo set-up onsite
  • Talon Energy shares are trading 10 per cent up at 1.1 cents each, while Strike Energy shares are flat at 19 cents each at 12:45 pm AEDT

Talon Energy (TPD) and ASX-listed joint venture partner Strike Energy (STX) have wrapped up site works at the Walyering-5 well.

The well is located onshore in Western Australia’s Perth Basin within Talon’s 45-per-cent-owned EP447 permit area.

With site works now complete, TPD said it was waiting on the arrival of the Ensign Rig 970 from the Lockyer Deep well to the north before it could begin drilling Walyering-5.

Upon the equipment’s release, the company said it expected a two-week turnaround for the rig to mobilise to site and set up ahead of commencing work.

Talon’s managing director David Casey said the company was using the waiting period constructively.

“While the delays in the mobilisation of Ensign Rig 970 to Walyering are unavoidable and outside joint venture operator Strike Energy’s control, we have used the time to ensure that all contingencies have been considered and that we are fully prepared for the rig’s arrival on site,” he said.

“This is an exciting time for Talon as we prepare to drill our maiden Perth Basin well.”

Concurrently, Mr Casey said the company continued to increase its technical understanding of the Condor Structure, south of the Walyering project area, which reportedly has the potential to yield significant additional upside in the event of drilling success at Walyering.

Talon Energy shares were trading 10 per cent up at 1.1 cents each, while Strike Energy shares were flat at 19 cents each at 12:45 pm AEDT.

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