Australian Oil Exploration Oil
Strike Energy Limited - Australian 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. For the latest information on Strike Energy click.
Australian Oil
Strike Energy Limited is known as a high margin petroleum producer which is certainly established in some of the earth's most fruitful basins and offers huge project development potential over an array of new energy possibilities.
In the United States Of America, the company at present creates from its interest in 2 areas in Texas and happens to be commencing an ongoing exploration program to grow this effective situation. In Feb 2010 Strike Energy reached it's third discovery from a total of 5 exploration wells drilled to date (for example a 60% exploration success rate) with the Gardner Duncan 1 well. Final hydrocarbon volumes are even now currently being assessed out of this well, that is thought of as having the potential to double the corporation's oil and gas reserve base. Throughout Australia, the Corporation secures an extensive strategic ground placement in the Southern Cooper Basin, for Coal Seam Gas and traditional prospects and within the Carnarvon Basin for shallow water oil and gas prospects.
Australian Oil - Strike Energy
This year Strike Energy has commenced a brand new onshore Gulf Coast exploration program on two fronts. In Louisiana, Strike Energy has farmed straight into a new exploration joint venture (the Bateman Lake Joint Venture) with Texana Resources operating out of Houston. Strike Energy are going to be acquiring 10 - 15% Operating Interests initially in the prospects generated.
In Texas, Strike Energy and its associates in the Eaglewood Joint Venture are taking part in an onging exploration drilling program on prospects that sit on the same trend as the Rayburn and Mesquite producing fields. These prospects are generally similar in nature to the Rayburn and Mesquite discoveries being likewise situated within the productive Wilcox Formation. Some of these prospects has prospective resource potential an order of 50 to one hundred Bcf. Strike Energy features a 30% Working Interest in all these prospects.
On the whole, upward to ten new exploration wells are organized across the 2 joint venture undertaking regions for 2010.
Strike Energy had been the triumphant bidder regarding licence region CO 2009-D in the latest Southern Australian bid round and secures a 100% standing in this permit. In addition, the Company was effective 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 associated with these kinds of interests, with Strike Energy's operating 66.7% interest in PEL 96 and 75% interest in PELA 71, gives Strike Energy the dominant standing in future oil exploration and ongoing non-conventional assessment (primarily CSG) in the region.
For more information on Australian Oil Company click,and for Unconventional Gas click.