Coal Exploration Exploration Oil
Strike Energy Limited - Coal Exploration
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.
Coal Exploration
Strike Energy Limited is actuall a high profit gas and oil-condensate business which is effective in some of the earth's most productive basins and features significant project progress potential throughout a selection of new energy possibilities.
In the USA, the organization at the moment creates by it's interest in a couple of areas within Texas and is actually executing a continuing exploration plan to grow this successful situation. In February this year Strike Energy reached it's 3rd discovery from a total of five exploration wells drilled up to now (for example a 60% exploration achievement rate) with the Gardner Duncan 1 well. Finalized hydrocarbon amounts are still being assessed from this well, which is thought of as having the potential to double the corporation's gas and oil reserve base.
In Australia, the Business retains a comprehensive 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.
In fact Strike Energy has initiated an alternative onshore Gulf Coast exploration plan on two methodologies.
In Louisiana, Strike Energy has farmed into a new exploration partnership (the Bateman Lake Joint Venture) with Texana Resources located in Houston. Strike Energy is going to be acquiring 10 - 15% Functioning Interests primarily in the prospects generated.
In Texas, Strike Energy and it's partners within the Eaglewood Joint Venture are taking part in an onging exploration drilling program on prospects that sit on a similar trend as the Rayburn and Mesquite producing fields. These prospects tend to be comparable in nature to the Rayburn and Mesquite findings being also located within the productive Wilcox Formation. Quite a few of these types of prospects will have probable resource potential an order of 50 to 100 Bcf. Strike Energy possesses a 30% Working Interest in all these prospects.
As a whole, up to ten new exploration wells will most certainly be organized across the 2 shared venture undertaking areas for the year 2010.
Strike Energy was the triumphant prospective buyer with regard to licence region CO 2009-D in the recent South Australian bid round and retains a 100% position in this permit. Furthermore, the Corporation ended up being effective in acquiring Magellan Petroleum Corporation's ("Magellan") non-operated functioning interests in PEL 94 (35%), PEL 95 (50%) and PPL 210, Aldinga Oilfield (50%).
The mixture associated with 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 position in future oil exploration and continuing unconventional assessment (primarily CSG) in the area.
The southern Cooper/Eromanga region includes traditional oil potential in the Strike Energy permits as indicated by oil exhibits in a number of of the active wells as well as the presence of the Aldinga Oilfield in PEL 95 and the Kobari Oilfield on the northern boundary of PEL 95.
Moreover, the Permian CSG potential in PEL 96 extends into PEL 94 and PEL 95 towards the north.
Coal Exploration - Strike Energy
Through surface gasification of the coal the venture contains the opportunity to create electrical power, liquid hydrocarbons (distillate, naptha), methanol or even fertiliser products (urea, ammonia). Evaluation is continuing to know the suitable commercially aware solution for this useful resource which will consist of a Pre-Feasibility Study (PFS) prior to the commitment to a Bankable Feasibility Study (BFS).
The project has got the potential to play an important role in reaching Australia's expanding interest in liquid powers and reduced emissions energy in an environmentally responsible approach.
Responding towards the problematic current market conditions, the Organization has implemented a plan constructed to advance the FuturGas venture with a reduced cost base until an investment partner is actually guaranteed to begin the prefeasibility research.
For more information on Upstream Oil and Gas, Coal Seam Methane, Underground Coal Gasification, Energy Oil and Gas, and for Australian Oil click.