Overview of Walyering-7 flow test results

Strike Energy Limited (ASX: $STX) has announced the successful completion of the Walyering-7 (W7) appraisal well flow testing program at the Walyering gas field in Production Licence L23. The flow testing program revealed a maximum recorded gas rate of 14 TJ/d and a liquid rate of 900 bbls/d of condensate. The tests confirmed the presence of a new movable conventional gas and condensate accumulation, with low impurity gas and significantly higher condensate gas ratio than expected.

Executive commentary on Walyering-7 flow test results

Strike's Managing Director and Chief Executive Officer expressed satisfaction with the results, highlighting the unlocking of new production potential and unexpected condensate and heating value outcomes. The company is now focused on identifying higher margin opportunities for the newly discovered condensate potential from Walyering. Additionally, plans for testing the lower zones at W6 and returning to perforate the D-Sands at W7 in the future were mentioned.

Summary of Walyering-7 flow test and future plans

The successful flow testing program at Walyering-7 has uncovered new gas and condensate production potential for Strike Energy. The company is optimistic about identifying higher margin opportunities for the condensate locally in Western Australia. The results will be used as key inputs for independent assessments by RISC Advisory Pty Ltd. Strike Energy also plans to test the lower zones at W6 and return to perforate the D-Sands at W7 during the planned shutdown and inspection in Q4-CY24. The company remains focused on leveraging the outcomes of the flow test to optimize production and achieve its corporate goals.