Join our daily newsletter At The Bell to receive exclusive market insights
Strike Energy (ASX:STX) has reported success at its Walyering-7 asset with flow testing around the proposed Walyering production facility now complete.
A maximum gas rate of 14 terajoules per day was clocked by geotechs on-site as well as 900 barrels per day of liquids (hydrocarbon byproducts of the gas extraction process.)
Gas was shown to be low in impurities, according to Strike, and a higher condensate gas ratio than expected.
For 40 days the company has been busy at W-7, interpreted to perforate the Cattamarra Formation; a feature of the Perth Basin.
All in all: Strike now reports a fresh source of gas.
“This is a pleasing result from the Walyering-7 appraisal well, unlocking new production,” STX MD Stuart Nicholls said.
“We look forward to testing of the lower zones at W6 shortly and returning to perforate the D- Sands at W7 during the planned shutdown and inspection in Q4-CY24.”
STX last traded at 20.5cps.
-1200x645-380x200.jpg)
