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STRIKE ENERGY LIMITED — Capital/Financing Update 2019
Jun 13, 2019
65876_rns_2019-06-13_f63436a5-9919-4796-82fd-d06cd9aa376c.pdf
Capital/Financing Update
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ASX Announcement
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The Company Announcement Officer ASX Ltd via electronic lodgement
14[th] June 2019
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- WEST ERREGULLA 2 UPDATE
Highlights
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Surface casing cemented successfully at section TD of 950m
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Drilling underway in first intermediate section with current TD of 1,237m
Current Operations
Since the last update, Strike has successfully cased the surface hole section and cemented at section TD. The cement job was confirmed with good returns to surface and the first wellhead section was set. Recommencement of drilling was subsequently delayed due to several days of unplanned rig maintenance and severe weather conditions.
Drilling of the first intermediate section has now commenced and the current measured depth is 1,237m.
Forward Plan
Drilling will continue to section TD at a nominal 2,550m. Weather conditions are forecast to ease and with maintenance issues resolved, an improved rate of progress is expected.
The tertiary target in the Cattamarra oil is prognosed to be intercepted at a depth of ~2,200m during the drilling of this section.
West Erregulla-2
West Erregulla-2 is being drilled in EP 469, which is adjacent to and targeting analogous Permian gas sands of a similar size and nature as the Waitsia gas discovery.
The well will be drilled to a planned total depth of 5,200m and penetrate three independent reservoir targets. These 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.
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Strike Energy Limited ABN 59 078 012 745 www.strikeenergy.com.au
P: +61 8 7099 7464
14[th] June 2019
ASX Announcement
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Strike Energy Limited ( Strike - ASX: STX) is the operator and the holder of a 50% joint venture interest in EP469, and Warrego Energy (ASX: WGO) the holder of the other 50% joint venture interest.
Investor & Media Contacts
Stuart Nicholls
Managing Director Phone: +61 432 587 808 email: [email protected]
Justin Ferravant
Chief Financial Officer & Company Secretary Phone: +61 8 7099 7483 email: [email protected]
West Erregulla-2 Location and Amplitude Visualisations of stacked targets:
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Strike Energy Limited ABN 59 078 012 745 www.strikeenergy.com.au
P: +61 8 7099 7464 E: [email protected]