Strike Energy (ASX:STX) anticipates spudding of SE1 well

• Strike Energy (STX) reports it’s ready to commence drilling operations at the SE1 Well at its wholly owned South Erregulla target
• The announcement follows the company completing mobilisation of the Ensign 970 drilling rig to the well
• Minor delays were encountered to spudding the well due to COVID-19 quarantine restrictions
• Further prep work has been planned in lead up to the commencement of full operations
• Strike Energy last traded at 20.5 cents on January 7

Strike Energy (STX) reports it’s ready to commence drilling operations at the SE1 Well at its wholly owned South Erregulla target in Western Australia’s Perth Basin.

The announcement follows the company completing mobilisation of the Ensign 970 drilling rig to the well.

Minor delays were encountered to spudding the well, due to Strike and Ensign shifting personnel into quarantine ahead of the WA border closure at the end of 2021. However, staff granted clearance are expected to begin full duties and spud SE1 towards the end of this week.

The primary objective of SE1 is to delineate around 350 petajoules of high confidence resource to secure the gas requirements for Project Haber, Strike’s proposed Geraldton based 1.4 megatonnes per annum urea fertiliser manufacturing facility.

On confirmation of success at SE1, Strike said it will look to sanction additional detailed engineering, finalise the urea offtake process, and progress the equity and debt processes for Project Haber.

Strike Energy last traded at 20.5 cents on January 7.