Strike JV to Drill Perth Basin Well in May

Australian Strike Energy will start drilling the West Erregulla-2 well in Western Australia’s Perth Basin in May, it said March 5.

Strike has completed all geological and geophysical work resulting from the new reprocessed West Erregulla 3D seismic data. “This work underpins the exciting multiple stacked plays that will be the target of the West Erregulla-2 well to be drilled in EP469, in the Perth Basin of Western Australia in May with the contracted Easternwell 106 rig. The well will look to prove the presence of both liquid and gas hydrocarbons across three separate geological sequences,” it said.

Together the total stacked gross prospective resource (best P50) estimate for gas targets is 1.16 trillion ft3, with a prospective gross play range of 761bn ft3 to 1.67 trillion ft3. On top of this substantial prospective gas resource is an additional prospective oil accumulation which could yield 7.19mn barrel with a gross play range of 4.78mn-10.27mn barrels, it said.

“The West Erregulla-2 well is likely be one of the most closely watched exploration wells drilled onshore Australia in 2019 and has the potential to materially re-value the adjoining acreage to the south and east which Strike holds 100% of via its corporate acquisition of UIL Energy late in 2018. With casing for the well having arrived in Western Australia, Strike looks forward to beginning drilling operations in May,” Strike’s managing director, Stuart Nicholls, said.

Strike holds 50% interest in EP469, while the operator Warrego Energy has the other 50%.