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- Strike Energy (STX) has identified a “significant” extension of the Permian trend within the Perth Basin, Western Australia
- The Tathra Terrace structural trend has four large leads in the Arrino and Kadathinni structures, which have a combined closure of 100 square kilometres
- Strike says the seismo-stratigraphy is identical to the Lockyer Deep gas discovery
- The company plans to acquire more 2D seismic data from the leads before it potentially drills two exploration wells within the structures
- STX shares were up 2.08 per cent, trading at 24.5 cents at 2:00 pm AEDT
Strike Energy (STX) has identified a “significant” extension of the Permian trend within the Perth Basin in Western Australia.
The company discovered the Tathra Terrace structural trend, which comprises a series of fault blocks between the Urella fault to the east and the Tathra/Wicherina fault to the west, extending from Lockyer Deep in the north.
Strike reported the trend has similarities to east-facing trends, such as the Beharra and Redback terraces, which are known to host “prolific” Permian gas fields.
Strike identified four large closures along the Tathra Terrace to date, including Arrino North, Arrino Central, Arrino South and the deeper Kadathinni leads.
The closure of the four structures combined is around 100 square kilometres, with estimated depths of between four and six kilometres.
“The emergence of the Tathra Terrace demonstrates just how early we are into our journey of fully understanding the magnitude of the Permian gas fairway in the North Perth Basin,” CEO and Managing Director Stuart Nicholls said.
The leads are defined on a limited 2D dataset and the seismic lines reportedly show identical seismo-stratigraphy and structural style to seismic across recent Permian gas discoveries at Lockyer Deep and South Erregulla.
Strike said it plans to acquire more 2D seismic data from the leads before it potentially drills two exploration wells within the structures. The company noted the newly-identified leads are situated just 15 kilometres east from the “highly successful” SE1 well.
STX shares were up 2.08 per cent, trading at 24.5 cents at 2:00pm AEDT.
