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STX, STRIKE ENERGY LIMITED
sh0950
post Posted: Sep 6 2019, 12:46 PM
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In Reply To: nipper's post @ Sep 6 2019, 09:52 AM

Sounds like a pretty good announcement to me.
How come the shares have dropped?

 
nipper
post Posted: Sep 6 2019, 09:52 AM
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Highlights
QUOTE
• Excellent quality conventional gas discovery in the High Cliff sandstone
• High Cliff log data compares favourably to the Waitsia gas field log data
• Gas saturated High Cliff sandstone with 10m of net pay and porosities up to 16%
• Gross High Cliff gas column of at least 22m
• WE2 well drilling now complete at 5,100m

Strike Energy Limited confirms that the Strike-Warrego Joint Venture has made a further significant gas discovery in the High Cliff sandstone as part of the West Erregulla-2 drilling campaign. Wireline logging tools have been run across the formation and log interpretation has been undertaken.

The High Cliff formation was encountered at 4,918 metres with a gross gas column of at least 22 metres. The High Cliff is made up of a single fining upwards cycle that has well-developed porosity throughout. The entire 22 metre section is gas saturated with a net pay of 10 metres and an average porosity of 10.3% and sections up to 16%.

The well did not encounter a gas water contact in the High Cliff formation which is consistent with the seismic amplitude model that supports the interpreted field boundaries.

Strike’s Managing Director, Stuart Nicholls said
QUOTE
“The addition of yet another material gas discovery in the West Erregulla-2 drilling campaign makes this a truly outstanding result for the well. The High Cliff sandstone quality at West Erregulla is comparable to the High Cliff in the Waitsia-1 well which flowed 25 mmscf/d when tested. The High Cliff results are in line with Strike’s expectations and indicate a discovery with significant areal extent that can be delineated on 3D seismic.”

“West Erregulla-2 has finished drilling at 5,100m and is now not only the deepest well in onshore Australia but has also discovered the deepest ever hydrocarbons. The presence of both gas and porosity at such depths add further significant value to the fast evolving Kingia-High Cliff conventional gas fairway within the Perth Basin. Now with gas discoveries in the Wagina, Kingia and High Cliff sandstones the West Erregulla trifecta has been achieved.”




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 27 2019, 04:33 PM
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In Reply To: nipper's post @ Aug 27 2019, 03:45 PM

No doubt NWE long and faithful shareholders (I recall this one from many moons ago) will be hoping it's a "gas, gas gas" biggrin.gif https://www.youtube.com/watch?v=a6lJ071MeKA



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Aug 27 2019, 03:45 PM
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In Reply To: blacksheep's post @ Aug 27 2019, 03:39 PM

sometimes, being gas-prone works wonders. smile.gif

(Oil price went nowhere over weekend; even Waitsia's Beach has a spring in its step today)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 27 2019, 03:39 PM
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In Reply To: nipper's post @ Aug 27 2019, 02:29 PM

NWE, who are also drilling in the area, are benefiting from the STX/WGO ann. NWE's SP up 40%. https://norwestenergy.com.au/projects/lockyer-deep/

QUOTE
Norwest Energy notes with interest the recent announcements by Strike Energy Ltd confirming a
significant conventional gas discovery within the secondary Wagina Sandstone target of its West
Erregulla-1 exploration well, located approximately 4 kms to the south of EP368 (see figure 1).

Additional resource potential may exist within the shallower Wagina Sandstone Formation at Lockyer
Deep, dependent upon localised porosity and permeability preservation at that level within the
structure.

Norwest Energy looks forward to providing a further update in due course, once the prospect for drilling
in H1 2020 has been formally agreed by the EP368 Joint Venture.

Joint Venture partners in the EP368 exploration permit are as follows:
Energy Resources Limited, a wholly owned subsidiary of Mineral Resources Limited (Operator, 80%) Norwest Energy NL (20%)

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Aug 27 2019, 02:29 PM
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Posts: 6,336
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In Reply To: blacksheep's post @ Aug 27 2019, 01:59 PM

from earlier ...
QUOTE
.. has lifted hopes of "lookalike" gas discoveries on a par with the Waitsia field

Nice.
(Many thanks to oilleak on the WGO thread)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: blacksheep  
 

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blacksheep
post Posted: Aug 27 2019, 01:59 PM
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In Reply To: nipper's post @ Aug 6 2019, 09:16 AM

STAGGERING KINGIA GAS DISCOVERY AT WEST ERREGULLA
Highlights

QUOTE
• Exceptional quality conventional gas discovery in the Kingia sandstone
• Kingia log data compares favourably to the Waitsia gas field log data
• Highly gas saturated Kingia sandstone with 41m of net pay and porosities up to 19%
• Gross Kingia gas column of at least 97m
• Drilling continuing with the High Cliff sandstone yet to be encountered


STX SP up 68% and jv partner WGO up 59%
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Aug 6 2019, 09:16 AM
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Posts: 6,336
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https://www.sharecafe.com.au/2019/08/02/sig...-strike-energy/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 20 2019, 09:58 PM
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QUOTE
The first onshore exploration wells to be drilled in Western Australia for almost two years have lifted hopes of "lookalike" gas discoveries on a par with the Waitsia field in 2017.... Drilling should start near the end of May at the West Erregulla-2 well in the North Perth basin, targeting the same rocks as at Waitsia, said David Biggs, a non-executive director of Warrego Energy, part-owner of the exploration venture.

Waitsia, with an estimated 844 billion cubic feet of gas, is said to be the country's largest onshore conventional gas find for 40 years. West Erregulla could be even larger, with Warrego's partner Strike Energy citing a best-estimate target of 916 bcf, and potentially as much as 1.296 trillion cubic feet. Strike has put an unusually high 69 per cent likelihood on making a successful discovery and developing West Erregulla.

Strike is due to pay the first $11 million of the estimated costs of about $16 million for drilling and testing, with the rest to be shared 50:50. A drill-rig is being transported from Queensland for the well, which will target the Kingia and High Cliff sandstones that yielded success at Waitsia-4, about 13 kilometres away, although about 1000 metres deeper. The EP469 permit lies about 360km north of Perth.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
sh0950
post Posted: Jun 4 2018, 10:41 PM
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Posts: 114
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What has happened today?

 
 


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