- Strike Energy (STX) has updated the market regarding the West Erregulla 4 well in Western Australia
- Since the last update made in February, the company has drilled a second hole to a final depth of 3906 metres
- During drilling, hydrocarbon shows were observed, which are similar to those found in the West Erregulla 2 well
- Strike will now run wireline logs through the area and once completed the company will begin running 9.58-inch casing before cementing in place
- Once the casings are cemented in place, the company will undertake drilling at WE3’s primary and secondary targets
- Strike has ended the day 4.92 per cent in the green with shares trading at 32 cents
Strike Energy (STX) has updated the market regarding the West Erregulla 4 well in Western Australia.
The project is held in an equally split joint venture with fellow ASX-lister, Warrego Energy (WGO).
Since the last update made in February, Strike has drilled the second hole which reached its final depth of 3906 metres.
During drilling, hydrocarbon shows were observed, similar to those found in the West Erregulla 2 well.
Strike will now run wireline logs through the area, and once completed, the company will begin running 9.58-inch casing before cementing in place.
Once the casings are cemented in place, Strike will undertake drilling at WE3’s primary Kingia and High Cliff targets and secondary Basal and Wagina targets.
The WE3 well is one of three 5000-metre appraisal wells that have been planned for the West Erregulla gas field.
The overall aim of this drilling is to evaluate the reservoir distribution in the central fault block.
Strike has ended the day 4.92 per cent in the green with shares trading at 32 cents in a $550.8 million market cap.