- Strike Energy (STX) begins drilling its first well at its South Erregulla gas target in EP503 in Western Australia
- SE1 was spudded on the weekend
- The well is being drilled in a 17-1/2 inch hole in the top section, at a measured depth of 1,045 metres
- Strike says it plans to drill ahead to a depth of 1,945 metres before running 13-5/8 inch casing and cementing it in place
- STX shares are up 7.5 per cent to 21.5 cents
Strike Energy (STX) has begun drilling the first well at its wholly owned South Erregulla gas target in EP503 in Western Australia.
The company said EP503 adjoins EP469 where as operator it made a conventional gas discovery at West Erregulla.
South Erregulla’s SE1 well, spudded on the weekend, is currently drilling in a 17 and a half-inch hole in the top section at a measured depth of about 1,045 metres.
Strike said it then plans to drill ahead to a section depth of about 1,945 metres measured depth before running 13 and 5/8-inch casing and cementing it in place.
The company said SE1 is being drilled with a further optimised design to maximise the well conditions for reservoir preservation and data acquisition when drilling and coring through the primary objective in the Kingia Sandstones.
According to the company, South Erregulla offers significant resource potential in the Kingia Sandstones and has “a high chance of success” due to the strong data control over the Erregulla region.
Strike said it expects SE1 to encounter the Kingia at a revised depth of 4,369 metres true vertical depth, which is up to 200 metres shallower than the penetration of the Kingia at the West Erregulla 2 well.
It will then collect whole core and an advanced series of wireline logs across the Kingia Sandstones.
STX shares were trading 7.5 per cent higher at 21.5 cents at 12:02 pm AEDT.