- Strike Energy (STX) has provided an update on its joint venture project, West Erregulla, where work is being carried out on well 4
- The company has set and cemented the casing at the well and also drilled through the Dongara and Upper Wagina to a depth of 4248 metres
- From there, STX decided to change the drill bit and run advanced wireline logging, which found a large bimodal gas column
- These initial results are in line with what Strike and JV partner Warrego Energy (WGO) found at well 2 and well 3 at the WA-based project
- Pleasingly, there are also no indications of a water leg despite the penetration of the Dongara and Wagina sections 35 metres down-dip of well 2
- Next steps for the energy stocks will be to carry out more wireline logging and testing at well 4 to confirm the materiality of the reservoirs
- Shares in Strike Energy are trading steady at 30 cents per share, while Warrego Energy is also steady trading at 22 cents per share
Strike Energy (STX) has provided an update on its joint venture (JV) project, West Erregulla, where work is being carried out on well 4.
The company explained since its last update for the project, it has set and cemented the casing at the well.
Strike had also drilled through the Dongara and Upper Wagina sections, with the well now in the Basal Wagina sandstones at a depth of 4248 metres.
Since hitting the Basal Wagina, STX has decided to change the drill bit and run advanced wireline logging in the well.
The logging found a large bimodal gas column in thick, blocky sand units where high porosity streaks are interbedded within a thick section of gas-bearing sandstones.
More specifically, the logging while drilling indicates 35 metres to 40 metres of conventional net pay across a gross interval of 206 metres at an average porosity of 6 per cent.
These initial results are in line with what Strike and JV partner Warrego Energy (WGO) found at well 2 and well 3 at the WA-based project.
Additionally, in a pleasing development for STX and WGO, no indications of a water leg have been sighted despite the penetration of the Dongara and Wagina sections 35 metres downdip of well 2.
Meanwhile, next steps for the energy stocks will be to carry out more wireline logging and testing at well 4 to confirm the materiality of the reservoirs.
Following this logging and testing, Strike will drill ahead to the top of the primary target in the early Permian Kingia Sandstone where it will commence coring operations.
Shares in Strike Energy are up 6.67 per cent at 32 cents per share, while Warrego Energy is trading at 22 cents per share, up 4.55 per cent at 11:00 am AEDT.