On behalf of the EP469 JV, Strike Energy Limited (Strike - STX) offers an update on the appraisal drilling operations for WE3
at the West Erregulla gas field.
Competed Operations
Strike commenced drilling the 6” hole and has drilled through the Irwin River Coal Measures and then through the primary objective in the Kingia Sandstone, which was observed at 4,737m (measured depth). As seen throughout the field the Kingia Sandstone was observed to be made up of packages of blocky clean sands that indicate conventional reservoir potential on the logging while drilling (LWD) tools. Elevated mud gas readings were also observed as the section was drilled which has also been interpreted on the LWD data. Strike has subsequently drilled into the Bit Basher Shale to a depth of 4,806m MD before pulling out of hole to perform a drill bit change. Strike is running back in with a new drilling assembly to drill the well to final depth.
Forward Plan
Strike will drill the well to final depth which is prognosed to pass through the secondary objective in the High Cliff Sandstones. Strike will then condition the hole before running a wireline campaign to confirm the results of the various objectives and collect any samples and pressure data. Strike will provide an update on the results of the well once this data acquisition campaign is complete.
WE3 is located at following coordinates: 29° 22’ 40.79” S, 115° 18’ 30.70”
Strike Energy Limited is operator and the holder of a 50% joint venture interest in EP469, and
Warrego Energy (WGO) a holder of the other 50% joint venture interest.
This announcement is authorised for release by the Managing Director and Chief Executive
Officer in accordance with the Company’s Continuous Disclosure Policy.
