- Strike Energy (ASX:STX) releases an update on appraisal results from its SE3 well, situated within its South Erregulla gas field in WA
- The successful appraisal at SE3 confirmed the continuity of the gas field to the northwest
- The SE3 well encountered the Kingia Sandstone at a measured depth of 4817 metres, revealing a gross interval of 54 metres
- STX plans flow testing in late January 2024, paving the way for potential resource conversion
- Strike Energy last traded at 42 cents
Strike Energy (ASX:STX) has released an update on appraisal results from its SE3 well, situated within its South Erregulla gas field in Western Australia.
The successful appraisal at SE3 confirmed the continuity of the gas field to the northwest.
The SE3 well encountered the Kingia Sandstone at a measured depth of 4817 metres, revealing a gross interval of 54 metres.
The net gas pay in the Kingia comprises two blocks totalling 13 metres, with porosities reaching up to 16.4 per cent. Consistent with Strike’s other successful Kingia wells in the North Perth Basin, the evaluation also indicated reservoir pressures of approximately 6746 pounds per square inch.
Strike Energy intends to advance the SE3 well by running, setting, and cementing the 7-inch liner before installing the 5-1/2-inch production tubing string, wellhead, and Christmas tree.
The flow testing campaign for SE2 and SE3 is scheduled to commence in late January 2024.
In addition to the encouraging gas developments, Strike Energy’s exploration into Carbon Capture and Storage (CCS) in the Jurassic Sandstone appears promising.
Wireline logging revealed a high-quality 75-metre net reservoir with an average porosity of 19 per cent and a maximum porosity of 29 per cent. This discovery supports the continuity of the potential storage reservoir to the northwest of SE1.
Strike Energy last traded at 42 cents.