There have been a lot of encouraging developments for Strike Energy’s Cooper Basin project in recent quarters. The testing of Davenport 1 in Pel 94 permit has now been successfully completed, on the back of recent and ongoing testing in Pel 96. Encouraging hydrocarbon shows were observed and around 90% of fluid was recovered in the flow back period. The testing in this field will complement the effort of the company to expedite the appraisal process in its PEL 96 field.
The interests for various operators in PEL 94 are:
Beach Energy Limited: 50%
Strike Energy: 35%
Senex Energy Limited: 15%
As discussed in our last Strike Energy blog, the PEL 94 field is ideally placed to take advantage of the oil and gas pipelines running through it. During the operations encouraging hydrocarbon shows were observed with around 90% of frac fluid was recovered. David Wrench the Managing Director of Strike Energy said that wells in both PEL94 and PEL96 are showing consistent reservoir characteristics and the finding of high deliverability coals in this region, shows that this part of Cooper Basin can be a major gas resource in the future. The permeability of the Patchawarra Vu coal is similar to that found on the Le Chiffre 1 and Klebb 1 wells of Strike Energy. The venture plans to install a pump and continue testing the Vm3 coal to further look at the encouraging results available till now. Also this will minimize any formation fluid which would be developed before desorption of gas.
In addition to announcing the testing of the Devenport well in Pel 94, Strike has also announced short term plans for Pel96, including further testing and installation of pumps in the exisiting Le Chiffre and Klebb wells, and two more offset wells to be drilled before the end of 2014 around the existing Klebb well. Testing of these new wells is planned for January 2015. Strike also mentions plans for further offset wells at Le Chiffre, with the intent to gain critical knowledge regarding optimum resevoir pressure at which gas is produced, produce consistent gas to surface and obtain critical formation water data.
Disclaimer: The owners/writers for YourWealthWatch hold both direct and indirect shares in Strike Energy.