Strike Energy's exploration update

Strike Energy (ASX:STX) has completed the logging and evaluation of the Walyering East-1 exploration well in the Perth Basin. The company announced a potential gas discovery within the Cattamarra Formation. The assessment revealed 13.4 meters of net gas pay with porosities up to 16% and pressures of 4,953 psi. The well is now ready for production testing.

Overview of Strike Energy's strategic steps

Strike Energy has successfully completed the logging of the Walyering East-1 exploration well, revealing promising gas pay within the Cattamarra Formation. Located near the existing Walyering gas field in the Perth Basin, the well showed 13.4 meters of net gas pay and is now prepared for production testing. The company aims to gather gas samples, which, if successful, will lead to integration into the Walyering gas field processing facility. This development aligns with Strike's strategy to expand its resource base in the region. The announcement underscores Strike's commitment to exploration and development in the Perth Basin, with the management team authorized to communicate this under the company's Continuous Disclosure Policy.

Executive insights on exploration results

The evaluation has shown promising results, and we are eager to proceed with production testing to confirm the discovery and assess the potential for development.