Strike Energy has announced the Walyering-5 top hole well has reached a section depth of 1005 m in the Perth Basin, Western Australia.
The company further confirmed that a 12-3/8-inch casing has also been run and cemented in place.
After this, a 12-1/4-inch drilling assembly was used by Strike to run a hole and start drilling the intermediate section of W5.
Strike aims to drill ahead in a 12-1/4-inch hole at the depth of 1013m and then drill down to 2370 m to run in and cement a 9-5/8-inch casing in place.
Designed to test the updip potential of the Walyering wet-gas discovery, the Walyering-5 well will be drilled down to a depth of 3138m subsea.
After stalling under previous ownership, Strike plans to restart the development of the field if successful.
The Walyering’s conventional gas was discovered in the Jurassic Cattamarra Coal Measures at a depth of 3165m, beginning with the Walyering-1 well.
Strike acquired the EP447 area in December 2018, which covers 1110 km2.
The wet-gas field is located in the strategic position between Western Australia’s two major gas transmission lines, thus linking the field with WA’s industrial gas markets.
In late 2019, Strike carried out 90 km2 of 3D seismic over the Walyering wells, improving Strike’s confidence in the interpretations of wet-gas accumulations at the wells and in the broader region.
Strike Energy’s share prices recently hit a 52-week low, with share prices declining 3 per cent to 17 cents.
Strike urged stakeholders to maintain their faith, despite saying the company regretted the slump.
Strike holds 55 per cent of the joint venture interest in EP447, whilst Talon Energy holds the other 45 per cent.
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