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Strike Energy www.strikeoil.com.au/

Strike Energy (ASX:STX) is a high margin gas and oil-condensate producer with growth potential across a range of new energy opportunities.

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Strike Energy continues southern Cooper Basin unconventional drilling campaign

Strike Energy (ASX:STX) is continuing its campaign to prove up the unconventional hydrocarbon potential of its southern Cooper Basin permits with the spudding of the Davenport-1 well in PEL 94.

Davenport-1 will test the Permian section of the Milpera Trough and is expected to take between 25-30 days to complete.

This covers the coal and shale formations to the base of the Patchawarra Formation.

With the success of the earlier Marsden-1 well in PEL 95, Strike expects Davenport-1 to provide important data to support its modelling of a substantial unconventional hydrocarbon resource across its permits.

It had previously estimated that a resource of up to 6 trillion cubic feet could exist in the area and said the liquids potential of the region, along with the lower cost of drilling and ready access to infrastructure, would result in a clear commercialisation path.

Strike has a 35% stake in PEL 94 while operator Beach Energy (ASX:BPT) holds 50%. The remaining 15% interest is held by Senex Energy (ASX: SXY).

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