Strike Energy (ASX:STX) touts Kingia reservoir as above average for North Perth Basin gas discoveries

• Results from an appraisal well in the West Erregulla gas field point to a large, high-quality gas resource according to Strike Energy (STX)
• WE5 is the third well in the appraisal campaign at the exploration permit southeast of Dongara, a 50:50 joint venture with Warrego Energy (WGO)
• Initial logs show the well encountered 183 metres of the Kingia Sandstone, with 32 metres of net pay and porosities of up to 15 per cent
• While logging is ongoing, Strike says the results are above the average across the various North Perth Basin gas discoveries in Western Australia
• Shares have eased 1.4 per cent to trade at 35.5 cents at 11:59 pm AEST

Strike Energy (STX) has reported results from the WE5 well confirm a large, high-quality gas resource at the onshore West Erregulla gas field in Western Australia.

The well is the third in an appraisal campaign at EP469, held in joint venture with Warrego Energy (WGO), and located southeast of Dongara in the North Perth Basin.

Initial logs show the WE5 encountered 183 metres of the Kingia Sandstone, with 32 metres of net pay, and porosities of up to 15 per cent. The top of the sandstone was also struck at 4771 metres, shallower than Strike had anticipated.

While logging operations are ongoing, Strike has interpreted the reservoir at WE5 as above average for the play across other gas discoveries in the North Perth Basin.

After logging is completed, Strike will prepare the well for running the final production casing string which will then be cemented in place for flow testing.

Shares eased 1.4 per cent and were trading at 35.5 cents at 11:59 pm AEST.