Exploration Oil Coal Methane Major Growth Potential
Strike Energy Limited - Exploration Oil
Strike Energy Limited is a high margin gas and oil-condensate producer focusing on oil exploration. which is active in some of the world's most productive basins and features major project growth potential across a range of new energy opportunities.
Exploration Oil
In 2010 Strike Energy has commenced a fresh onshore oil and gas exploration programme concerning two methodologies.
In Louisiana, Strike Energy has recently farmed into a new exploration joint venture (the Bateman Lake Joint Venture) with Texana Resources based in Houston. Strike Energy will be taking 10 - 15% Working Interests initially in the prospects generated.
In Texas, Strike Energy and its associates inside the Eaglewood Partnership are actually engaged in an onging exploration drilling program on prospects which are located in the same trend as the Rayburn and Mesquite producing fields. These prospects are similar in characteristics to the Rayburn and Mesquite findings being positioned in the prolific Wilcox Formation. Some prospects will have prospective resource potential in the order of 50 to 100 Bcf. Strike Energy carries a 30% Working Interest in these prospects.
Exploration Oil - Strike Energy
Overall, up to ten new exploration wells are planned across the two joint venture project areas for 2010.Strike Energy's main investment lies on Australia where there are three main locations including the bowen basin.
The current projects in Australia are in both Western and Eastern Austraila. The Southern Cooper Project is an exciting venture where Strike Energy is heavily involved. Strike Energy has permission and access to over 300km to drill within one of the richest reserves in Australia.
Strike Energy retains a Working Interest in 10 wells in the us onshore Gulf Coast area which provided 3.33 Bcf of gas and 82,000 barrels of oil condensate in the year 30 June 2009.
Output goes on this year from ten wells within Texas, with the possibilities to raise this generation through accomplishment within the exploration drilling programs that have layed out targets with 200 Bcf gas potential to Strike Energy. In Feb this year Strike Energy accomplished its 3rd discovery from a total of five exploration wells drilled to date (ie a 60% exploration success rate) when using the Gardner Duncan 1 well. Closing hydrocarbon volumes are still being examined out of this well, which is thought of as having the potential to double the corporation's oil and gas reserve base.
A high margin production is consistent in all of Strike Energy's operations. We are ideally placed with long standing partners in America and access to Australia's richest reserves.
For more information on bowen basin and coal exploration click.