News Articles for Strike Energy

Strike Energy has started flow testing at its exciting West Erregulla-2 gas discovery well in the Perth Basin where it has identified three separate gas discoveries and possibly the deepest occurrence of hydrocarbons onshore anywhere in Australia. The company has also given an update and provided a strategy to begin unlocking value from the surrounding gas field, with a schedule now developed to produce gas by early 2022 and fast-track cash flows.

Strike Energy has attracted ex-FMG iron ore heavyweight, Nev Power, to its board as the company approaches its moment of truth in the Perth oil and gas basin with well testing of its West Erregulla-2 gas well all set to begin. The company expects to commence production flow testing at West Erregulla-2 in October and it is hoping to become Western Australia's next gas producer from it.

Two prominent Perth company directors have been involved in board moves today, with Nev Power to join Strike Energy and Wesfarmers announcing that Tony Howarth will step down.

Strike Energy has concluded its drilling and completion activities for the exciting West Erregulla-2 well in the Perth Basin of WA, where it has located three separate gas discoveries and possibly the deepest occurrence of hydrocarbons in Australia. Earlier this month, the company completed wireline logging that identified a significant pay zone of conventional gas, which it said could potentially support a low-cost development.

Strike Energy has increased the net pay zone within the Kingia sandstone conventional gas discovery by 17 metres to 58 metres after completing wireline logging at its West Erregulla-2 well in the Perth Basin, WA. Down-hole tools have indicated the Kingia reservoir as having pressures between 6,814 psia and 6,828 psia with good permeability of 102mD, which supports the potential for a significant recoverable gas resource.

Strike Energy is preparing to start the key controlled drawdown phase that could increase gas production at its Jaws-1 super-deep coal seam gas well in the Cooper Basin, South Australia. Water flow rates at the well have declined from 450 barrels per day in late June to the current 350 barrels per day while the Jaws and Klebb wells have exhibited strengthening gas flares as production rates slowly build.

Western Australia's domestic gas production for the three months to June was a quarterly record, leaving the state experiencing a surplus of gas while east coast production fell again.

Strike Energy's West Erregulla-2 exploration well in the Perth Basin, Western Australia has intersected 10 metres of net gas pay with average porosity of 10.3% in the High Cliff sandstone target. The company is currently undertaking additional advanced wireline logging at the well before running and cementing production casing ahead of carrying out flow tests for the Kingia and High Cliff zones.

Flow tests from the deepest well ever drilled in Australia are expected within days, but it has already refocused attention on the oil and gas industry in the Perth basin.

Strike Energy's West Erregulla-2 well in Western Australia's Perth Basin has intersected extended drilling breaks with associated elevated mud gas readings in the target High Cliff sandstone. The company will continue drilling through the remaining High Cliff formation until the well intersects the Holmwood Shale before commencing a full suite of wireline logging tools throughout the High Cliff and Kingia sandstones.

Strike Energy shares have surged 90 per cent and Warrego Energy's by 68 per cent after the joint venture partners announced a significant gas discovery as part of the West Erregulla-2 drilling campaign in the Perth Basin.

Strike Energy could be sitting on a major new gas discovery after drilling through a 41m gas net pay zone at its West Erregulla-2 well in Western Australia's Perth Basin. Average porosities are good too at 14.3% in the primary Kingia sandstone target. Management said the result compares favourably with log data from the nearby producing Waitsia gas field that created quite a stir when it was discovered.

Strike Energy has observed that the primary objective at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia, may hold the same excellent reservoirs seen at the neighbouring Waitsia gas field. Cuttings from the Kingia sandstones drilled to date include clean sands with some evidence of grains being coated in chlorite, a mineral that is a key element required for the preservation of porosity at depth.

Strike Energy has inked a fourfold increase in the net reservoir within the secondary objective Wagina sandstone to 10.2 metres with porosities of up to 14% at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia. The company said this compares favourably to the nearby producing Beharra Springs fields, which flowed up to 38 million cubic feet of gas per day from a 10.4 metre net gas reservoir in the Wagina sandstone.

Strike Energy has confirmed that it has made a significant conventional gas discovery in the Wagina sandstone of its multi-target West Erregulla-2 well in the Perth Basin, Western Australia. Notably, the well has yet to intersect the secondary target Basal Wagina sandstone and will now be finished before drilling resumes towards its total planned depth of 5,200m to intersect the Basal Wagina and primary target Kingia-High Cliff sands.

Strike Energy is preparing to carry out wireline logging at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia, that flowed gas to surface earlier this month from the Basal Wagina formation. The company will also evaluate the shallower Lesueur Sandstone and Woodada Siltstone formations before casing the well and drilling ahead to intersect the primary target Kingia-High Cliff sand sequence.

Strike Energy has flowed significant, high-pressure gas to surface from the Basal Wagina formation, a secondary target at its multi-target West Erregulla-2 well in the Perth Basin, Western Australia. The company will now subdue the productive formation before drilling ahead to a depth of 4230m before running wireline logs over the entire second intermediate section to fully evaluate the potential of the Basal Wagina.

Strike Energy has intersected pronounced hydrocarbon shows in the Lesueur Sandstone and Woodada Siltstone formations at its West Erregulla-2 well in the Perth Basin, Western Australia. Both formations display fair to good visual porosity in the cuttings and good elevated mud gas readings that were better than those encountered in the nearby West Erregulla-1 well.

Strike Energy continues to gradually increase gas flow at its Jaws-1 super-deep coal seam gas well in the Cooper Basin, South Australia, as more coal transitions from water to gas production. Pumps have been set to maintain a pressure of 250psi to allow the desorption front to gradually spread outwards into the rest of the reservoir as more coal transitions from water to gas production.

Strike Energy is continuing to drill its West Erregulla-2 well in the Perth Basin, WA, towards the secondary and primary gas targets after intersecting some hydrocarbon shows in the tertiary oil target. While the shows in the Cattamarra oil target were deemed insufficient to warrant the running of wireline logging, the company said that the results supported its geological model and would help with future activities.

Strike Energy has spudded its highly anticipated West Erregulla-2 well in the Perth Basin, WA, that is targeting up to 1.16 trillion cubic feet of gas in the primary target Kingia High Cliff and 7.2 million barrels of conventional oil in the Jurassic Cattamarra Coal Measures. The well, which is being drilled to a total depth of 5,200m, will also intersect a conventional gas target in the Basal Wagina sandstones.

Strike Energy has signed a gas offtake option agreement with major chemical manufacturer CSBP for the supply of up to 100 petajoules of gas from the upcoming West Erregulla-2 well in the Perth Basin, WA. CSBP will pay a $5 million option fee to help fund the cost of drilling the well, which targets up to 1.16 trillion cubic feet of gas in the Kingia High Cliff sands and 7.2 million barrels of oil in the Jurassic Cattamarra Coal Measures.

Strike Energy has executed a $5 million sales option with Wesfarmers subsidiary CSBP, for up to 100 petajoules of gas from its half-owned West Erregulla project.

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

Strike Energy is another step closer towards booking a reserve at its potentially lucrative Jaws-1, super-deep coal seam gas well in the Cooper Basin, South Australia, after re-establishing consistent gas production. The flare stack has been ignited with reservoir pressure at 425psi whilst the continued flow of water at between 450 to 500+ barrels per day confirms the good productivity of the well.

Strike Energy is on track to spud its highly anticipated West Erregulla-2 well in the Perth Basin, which will target up to 1.16 trillion cubic feet of gas and 7.2 million barrels of oil, later this month. The company recently uncovered further evidence that West Erregulla is similar to Japanese company Mitsui's nearby Waitsia gas field - one of Australia's largest onshore gas fields.

Strike Energy has observed encouraging gas surges as it continues to depressurise its ground-breaking Jaws-1 deep coal seam gas well in the Cooper Basin, South Australia. This is consistent with the previous behaviour of the reservoir that resulted in the building desorption front in December last year. Water production rates are currently between 300 and 400 barrels per day.

Strike Energy has added a new Jurassic sand sequence target that could host about 7.2 million barrels of oil to its upcoming West Erregulla-2 well in the North Perth Basin, WA, which will be drilled in the second quarter of 2019. A success at West Erregulla-2 has the potential to re-value the adjoining acreage to the south and east that were part of the UIL Energy acquisition late last year.

Strike Energy has brought its Jaws-1 deep coal seam gas well in the Cooper Basin, South Australia, back online after completing workover operations and has restarted the depressurisation of the Vu Upper coal seam. This is aimed at returning the Jaws well to its critical desorption pressure and reinitiating gas flows. The company said the pumps would be slowly ramped up to ensure sustainability of the pumping operations.

Strike Energy has agreed to share the rig mobilisation costs with another Perth Basin operator to drill its exciting West Erregulla gas permit just north of Perth in WA, with the program expected to kick off in May. Recent reprocessed 3D seismic work produced gas volume estimates ranging between 607 and 1,296 billion cubic feet for the Kingia-High Cliff targets, with a best estimate of 916 bcf.

Strike Energy continues to achieve greater continuous flows of gas from its super-deep Jaws-1 coal seam gas well in the Cooper Basin, South Australia, as more coal enters the critical desorption window. Water production has also remained steady which is an indicator that continued fluid recovery will lead to more gas production growth.

Strike Energy is wrapping up the takeover of fellow Australian oil and gas explorer UIL Energy after receiving acceptances representing 92.01% of UIL shares on issue for its all-scrip offer. UIL's three northern permits are believed to potentially contain an extension of the Kingia-High Cliff sands that are the main target at the West Erregulla prospect. Strike plans to drill it in the first quarter of 2019.

Strike Energy's all-scrip takeover offer for Perth Basin oil and gas company UIL Energy is now unconditional after it received acceptances for about 56% of UIL's shares on issue. Strike will now appoint its directors Andrew Seaton and Stuart Nicholls to the board of UIL while all of UIL's directors save for Stephen Bizzell will step down.

Strike Energy's $16.1m all-scrip takeover bid for Perth Basin-focused oil and gas company UIL Energy has been found to be both fair and reasonable by an independent expert. The company also said its Jaws-1, deep coal seam gas well in South Australia is now starting to flow gas continuously with regular bursts of up to 100,000 cubic feet per day and gas flows continuing to build.

IMF Bentham announces it is conducting a fully underwritten institutional placement to raise $74.48 million.

Strike Energy is now fully funded to drill the West Erregulla-2 well in the Perth Basin and complete pilot production activities for the Jaws-1 deep coal seam gas wells after raising $13m through a share placement. The share placement also fulfils the capital raising requirement for the recommended takeover offer for UIL Energy, which will increase Strike's exposure to the Perth Basin.

Strike Energy will extend its position in the Perth Basin, announcing it will acquire UIL Energy in a deal valued at around $16 million.

Strike Energy has launched a $16.1m all-scrip takeover offer for fellow oil and gas company UIL Energy to increase its exposure to the Perth Basin in Western Australia. This will increase the company's acreage in the Perth Basin to over 3000 square kilometres. Strike is planning to drill a well to test the West Erregulla prospect, which is adjacent to the Waitsia gas field, in the first quarter of 2019.

ASX listed Strike Energy has started the much-anticipated gas production phase at its Jaws-1 project wells in SA's Cooper Basin with operations now set up for continuous gas release. Water production rates have been maintained at between 750 and 800 barrels of water per day while gas release has continued to build in both the horizontal and vertical well bores.

With the bulk de-watering phase now complete, Strike Energy is carefully managing drawdown at its historic Jaws-1 super-deep coal seam gas well in SA with gas flows expected to start soon. it's a case of softly softly for Strike who is methodically seeking to prove its theory that coal seam gas can in fact be accessed economically from over 2km down hole.