Strike Hard, Strike Fast
October 9, 2023Strike Energy, a company aiming to produce locally sourced, sustainable and low-cost energy, has made significant progress towards achieving what seemed like an impossible feat just four years ago.
Strike has become the top owner of natural gas reserves in the Perth Basin, thanks to its Gas Acceleration Strategy and support from the WA government. The South Erregulla-2 appraisal well has exceeded expectations and allowed the company to expand its ambitions beyond its initial goals.
Strike and its joint venture partner Talon Energy are on the threshold of helping fill critical domestic gas shortages for Western Australia in a transformational guaranteed domestic gas offtake deal with gas giant Santos.
Interestingly, this discovery was initially intended for a low-carbon urea development but has turned out to have enormous potential based on the substantial findings from the SE 2 appraisal this week.
This week, Euroz Hartleys provided an encouraging commentary on the prosperous evaluation of the South Erregulla gas field.
The SE-2 well hit a net pay thickness of 16m, more significant than the South Erregulla-1 discovery hole at 14m and Beach Energy’s (ASX.BPT) Trigg NW-1 well at 6m.
According to Euroz Hartleys, The SE-2 appraisal is excellent news for Strike, helping to de-risk the entire project and making it much more likely that the 178 petajoules of contingent resources can count as reserves in the Kingia reservoir – a very timely outcome considering Waleyering production is looking highly likely to leap from 21TJ to 33TJ very soon.
STRIKE’S JOURNEY
March 28th, 2018 – Acquisition of block in the Perth Basin.
December 21st, 2018 – Petrel Energy and Warrego Energy merge.
March 7th, 2019 – West Erregulla program begins.
August 1st, 2019 – Wagina Sandstone and High Cliff sandstone of West Erregulla made on the same day.
November 11th, 2019 – West Erregulla (1,185 BCF) 2C resource confirmed
December 6th, 2021 – Walyering-5 gas discovery.
December 15th, 2021 – Strike awarded a $2M grant for Project Haber
February 2nd, 2022 – Project Haber awarded Major Project Status
February 17th, 2022 – South Erregulla-Wagina gas discovery
April 6th, 2022 – Strike and Perth Energy gas offtake agreement
May 19th, 2022 – Strike and Koch Fertilizer offtake agreement
June 7th, 2022 – Mid West Low Carbon Manufacturing Precinct launched
July 28th, 2022 – West Erregulla Reserves upgraded 41%
August 15th, 2022 – FID on Walyering Gas Project
August 29th, 2022 – West Erregulla-3 confirmed a major producer
September 2nd, 2022 – $30M placement
December 7th, 2022 – Strike increases Warrego stakeholding to 19.9%
December 14th, 2022 – Santos Walyering Gas Sales Agreement
September 26th, 2023 – Production begins at Walyering gas field
October 5th, 2023 – Successful Appraisal of South Erregulla
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