Talon Energy (ASX:TPD) and Strike Energy (ASX:STX) granted key Walyering production licence

• Talon Energy (TPD) and joint venture partner Strike Energy (STX) receive production licence grant for the Walyering gas project in Western Australia
• The grant of the licence by the WA Department of Mines, Industry, Regulation and Safety is a key approval required for the development of Walyering and has been obtained in line with scheduled timeframes
• The procurement program for the upstream facility is now approximately 98 per cent complete, with offsite fabrication around 65 per cent finalised
• The upstream facility remains on budget and on schedule for commissioning, with start up scheduled for the end of Q1 2023
• Shares in Talon are up 2.78 per cent, trading at 18.5 cents while Strike is up 0.66 per cent, trading at 38.3 cents as of 1:20 pm AEDT

Talon Energy (TPD) and joint venture partner Strike Energy (STX) have been granted a production licence for the Walyering gas project in Western Australia.

The grant of the L23 licence by the WA Department of Mines, Industry, Regulation and Safety is a key approval required for the development of Walyering, and has been obtained in line with scheduled timeframes.

Talon Managing Director and CEO Colby Hauser said the project continues to complete major milestones at pace.

“To date, all approvals have been granted in line with expectations and previous guidance,” Mr Hauser said.

“Talon is pleased with the progress of the project to date, and we look forward to welcoming the near-term free cashflow generated from production of the field.”

The procurement program for the upstream facility is now approximately 98 per cent complete, with offsite fabrication sitting at around 65 per cent.

The company said upstream facility remains on budget and on schedule for commissioning and start up by the end of Q1 2023.

Meanwhile, final sliding-sleeve well completion equipment for the Waylering-5 and Walyering-6 wells, which will enable the management of production from the various reservoirs, has arrived at the facility.

The work-over rig is expected to mobilise to site in mid-February to undertake the well completions in preparation for the commencement of production.

Talon has a 45 per cent stake at Walyering, sharing the project with Strike Energy (STX) which is the operator of the gas field and holds a 55 per cent stake.

Shares in Talon were up 2.78 per cent, trading at 18.5 cents, while Strike was up 0.66 per cent, trading at 38.3 cents as of 1:20 pm AEDT.