Australian Oil and Gas Major Growth Potential
Strike Energy Limited - Australian Oil and Gas
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. For the latest information on Strike Energy click.
Australian Oil and Gas
Strike Energy Limited is known as a high profit gas business which is established in quite a few of the world's most effective basins and boasts significant venture progress potential across numerous new energy programs.
In the United States Of America, the organization at the moment generates from its benefit in a couple of areas in Texas and is actually starting a continuing exploration program to expand this effective position. In February this year Strike Energy accomplished its third breakthrough from a total of 5 exploration wells drilled up to now (for example a 60% exploration success rate) with the Gardner Duncan 1 well. Final hydrocarbon quantities are even now currently being assessed from this well, which is viewed as having the potential to double the corporation's oil and gas reserve base.
Within Australia, the Business holds an extensive strategic ground placement within the Southern Cooper Basin, for Coal Seam Gas and conventional prospects and within the Carnarvon Basin with regard to shallow water oil and gas prospects.
Australian Oil and Gas - Strike Energy
This year Strike Energy has started an alternative onshore Gulf Coast exploration program on 2 fronts.
Within Louisiana, Strike Energy has recently farmed straight into a new exploration partnership (the Bateman Lake Joint Venture) with Texana Resources located in Houston. Strike Energy shall be getting 10 - 15% Functioning Interests primarily within the prospects generated.
In Texas, Strike Energy and its associates within the Eaglewood Joint Venture are participating in an onging exploration drilling plan on prospects which rest on a similar trend as the Rayburn and Mesquite producing fields. These types of prospects tend to be similar in nature to the Rayburn and Mesquite discoveries being also situated in the productive Wilcox Formation. Numerous of these kind of prospects has probable resource potential the order of fifty to one hundred Bcf. Strike Energy contains a 30% Functioning Interest in these particular prospects.
On the whole, upward to ten new exploration wells are prepared across the 2 joint venture project locations for 2010.
Strike Energy ended up being the victorious prospective buyer with regard to licence area CO 2009-D within the latest South Australian bid round and keeps a 100% standing in this permit. Furthermore, the Corporation ended up being successful in acquiring Magellan Petroleum Corporation's ("Magellan") non-operated working interests in PEL 94 (35%), PEL 95 (50%) and PPL 210, Aldinga Oilfield (50%).
The mixture of these kinds of pursuits, with Strike Energy's operating 66.7% interest in PEL 96 and 75% interest in PELA 71, gives Strike Energy the superior standing in future oil exploration and on-going unconventional evaluation (primarily CSG) within the area.
The southern Cooper/Eromanga area possesses conventional oil potential in the Strike Energy permits as indicated by oil exhibits in several of the existing wells plus the existence of the Aldinga Oilfield in PEL 95 as well as the Kobari Oilfield around the northern boundary of PEL 95.
Moreover, the Permian CSG potential in PEL 96 extends into PEL 94 and PEL 95 towards the north.
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