- Strike Energy (STX) has progressed drilling at the West Erregulla Project in WA
- The company has commenced drilling at the WE5 well and completed the first hole section to a depth of roughly 1567 metres
- Meanwhile, at WE4, STX has perforated 75 metres of the Kingia Sandstone ahead of flow back and production testing
- Looking ahead, the company says it will pull out-of-hole after completing the top hole at WE5
- The well is progressing under a revised design, aimed at increasing the speed of well execution while maintaining deliverability and productivity
- Despite the update, Strike shares are down 1.32 per cent, trading at 37.5 cents
Strike Energy (STX) shares were down early in the session on Monday, despite the company progressing drilling at the West Erregulla Project in Western Australia.
The company has commenced drilling operations at the West Erregulla-5 well (WE5) to complete the first hole section, which was drilled to a depth of roughly 1567 metres.
Meanwhile, at WE4, Strike has perforated 75 metres of the Kingia Sandstone ahead of flow back and production testing of the well.
STX has now begun the flow test program, starting with a clean-up period and followed by around five days of flows at various choke sizes to measure rates and pressure build-ups.
Looking ahead, the company says it will pull out-of-hole after completing the top hole at WE5, which is progressing under a revised design.
Strike says the new design, which has seen a casing string removed, is aimed at increasing the speed of well execution while maintaining deliverability and productivity.
Strike Energy equally holds the West Erregulla Project with joint venture partner and fellow ASX-lister Warrego Energy (WGO).
Strike shares were down 1.3 per cent, trading at 37.5 cents at 12:38 pm AEST.