Strike Energy to Explore for Unconventional Gas In Cooper Basin

Strike Energy has planned to explore for coal and shale formation in the Cooper Basin, the company said.

The Marsden 1 well will test the Permian sections of the Battunga Trough and is scheduled to spud in February. The Davenport 1 well will follow immediately afterwards and will test the Permian sections of the Milpera Trough.

The wells, both operated by Strike's partner Beach Energy, will provide comprehensive data on Permian coal and shale formations and will enable the company to refine its resource model and develop the next stage of the evaluation and development program for the resource.

The two wells are expected to cost a total of $5.5 million, of which Strike's share is about $2.5 million and will be funded from existing cash reserves.