Strike ran a successful capital raising exercise at the end of October in order to fund further exploration of Western Australia’s Perth Basin, following a significant gas discovery at the West Erregulla field.
With the necessary funds now acquired, the company has turned its attention to the Walyering gas field located in its 100 per cent owned EP447 licence area, commencing its exploration with a 3D seismic program.
The gas field was discovered in the 1970s and is located between the Parmelia Gas Pipeline and the Dampier to Bunbury Natural Gas Pipeline.
Strike has given a best prospective resource estimate of 1.78 billion m3 of gas and 1.2 mmbbls of liquids from Walyering and said the new 3D seismic has the potential to indicate a better reservoir or a higher possibility of success.
The seismic campaign is estimated to take approximately six weeks, after which processing and interpretation activities will be undertaken over a period of several months.
For more information visit the Strike website.
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