Strike Energy Announces Appraisal of the Walyering Gas Field

Source: 12/6/2021, Location: Not categorized

Strike Energy has advised that the Walyering-5 (W5) well has confirmed the presence of a high-quality, low CO2, conventional gas accumulation at the suspended Walyering gas field within the Perth Basin.

The results of W5 have exceeded the company’s expectations with both higher quality reservoir being observed, and the presence of additional net gas pay in deeper sands.

Mud logs, logging while drilling and wireline logging tools were used to evaluate the four high quality, blocky, coarse grained, conventional gas charged sands throughout the Jurassic aged Cattamarra Coal Measures. These sands are interpreted to be the regional A, B and C Sands seen in the historical Walyering wells and nearby Jurassic gas discoveries such as Gin Gin, Red Gully and Ocean Hill. Strike has taken core samples from the A Sand which will be used to verify the regional nature of the reservoir.

While drilling to total depth, additional gas sands were encountered with the well yet to observe a water contact. The W5 A Sand sits some 233m TVD ss higher than W1 and 145m TVD ss higher than W4, indicating the potential for a larger than expected gas column and corresponding resource.

Pressure data collected from the reservoir was measured at approx. 4,386psia with permeabilities of 274 mD. Gas samples have been measured in the laboratory to contain only 0.69% CO2 which is consistent with the better than pipeline-specification sweet gas seen in the historical Walyering production stream. The condensate gas ratio is measured to be lower than expected at around 2.84 bbls per mmscf, which is viewed as a positive due to the production stream supporting a lower development cost and faster to market profile.

Forward Plan

Strike is running in and will cement 5-1/2” casing in place before completing the well across theCattamarra Coal Measures with a 2-7/8” tubing string. Post completion Strike will prepare the well for a production test in Q1/22 which will feed into an independent joint venture resource statement.

Managing Director & Chief Executive Officer, Stuart Nicholls said:

'The results of the Walyering-5 well have exceeded Strike’s pre-drill expectations with thicker and better-quality gas charged sands being encountered across several reservoirs. These results are another example of the excellent geoscience outcomes that the Strike team continue to deliver, and this result bodes well for ongoing success throughout the basin.

'The co-location of the Walyering gas field with transmission infrastructure, better than pipeline quality gas and position on free-hold land, combines to make the potential for a very fast to market domestic gas development.

'Strike will now work with its partner Talon Energy to put together a plan for a fast and low-cost development before production testing the W5 well and having the resource independently certified.'

About the Walyering-5 Appraisal Campaign

The Walyering-5 well was to be drilled down to a depth of ~3,400m MD and was designed to test the updip potential of the Walyering wet-gas discovery, and on success recommence the development of the field, which stalled under previous ownership.

The Walyering conventional gas discovery was made in the Jurassic Cattamarra Coal Measures via the Walyering-1 well which flowed at 13.5mmscf/d and measured only 1% CO2 from the A-Sand. The Walyering wet-gas field is strategically located next to the Parmelia gas transmission pipeline, linking the field with WA’s industrial gas market. The Walyering-5 well is located at: Latitude: 30° 43' 48.30”, Longitude 115° 28' 43.61'.

Strike Energy is operator and the holder of a 55% joint venture interest in EP447, and Talon Energy a holder of the other 45% joint venture interest.

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