Coal Oil Exploration Oil Major Growth Potential
Strike Energy Limited - Coal 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.
Coal Oil
This year Strike Energy has began a new onshore oil and gas exploration programme concerning 2 fronts.
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 partners inside the Eaglewood Joint venture are involved in an onging exploration drilling program on prospects that are situated in the same trend as the Rayburn and Mesquite producing fields. A lot of these prospects are similar in characteristics to the Rayburn and Mesquite discoveries being located in the prolific Wilcox Formation. Some prospects will present prospective resource potential in the order of 50 to 100 Bcf. Strike Energy carries a 30% Working Interest in these prospects.
Strike has a wealth of reserves and continues to find high hydrocarbon reserves in projects last month. Strike has a 60% success rate in exploration withi this project enjoying 3 successes from 5 drills.
Coal 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.
Strike is about to commence drilling in:
Southern Cooper Basin
Area Pela 71
Area Pel 94
Area Pel 95
Area Pel 96
Watch out in the coming years, you may well be hearing Strike Energy for years to come.
Strike Energy holds a Working Interest in ten wells the united states onshore Gulf Coast region that delivered 3.33 Bcf of gas and 82,000 barrels of oil condensate in the year 30 June 2009.
Generation carries on in 2010 from ten wells within Texas, with the prospective to boost this generation through accomplishment within the exploration drilling programs which have layed out targets with 200 Bcf gas potential to Strike Energy. In February this year Strike Energy reached it's 3rd finding from a total of five exploration wells drilled up to now (ie a 60% exploration success rate) with the Gardner Duncan 1 well. Finalized hydrocarbon quantities continue to be evaluated out of this well, which is thought of as having the potential to double the company's oil and gas reserve base.
Strike Energy's operations within the USA are administered and operated by its partner with which it has operated over a long period of time. Through this relationship the benefits of highly specialised local knowledge have delivered both discoveries and high margin production.
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