Strike Energy Ltd, through its subsidiary company UIL Energy Ltd, is offering a farm-in opportunity for interested parties to enter exploration permit EP 447, located in the Perth Basin. The southern portion of the permit contains the Walyering gas field, which was discovered in 1971 and produced a total of 261 MMcf of gas from the Lower Jurassic Cattamarra Coal Measures over a four-month period before the reservoir was considered depleted and production ceased.  Strike did have a farm-in agreement with Pancontinental Oil & Gas NL which would see Pancontinental acquire 70% interest in EP 477 Walyering in return for funding the planned Walyering 3D seismic survey. However, Pancontinental was seeking to alter the farm-in conditions and the survey was not completed in the agreed timeframe. Strike subsequently terminated the agreement and is now committed to completing the survey. Strike will consider both pre and post acquisition farm-in offers with around 70% interest available.    The Walyering gas field was discovered in 1971 and produced a total of 261 MMcf of gas from the Lower Jurassic Cattamarra Coal Measures over a four month period before the reservoir was considered depleted and production ceased. Conventional sandstone reservoirs of Jurassic age, similar to the Gingin West and Red Gully gas and condensate trend, have been identified in the permit area over a structure area of approximately 10 sq km. Itâs considered that original drilling failed to target the highs due to poorly positioned 2D seismic data.  Bombora reassessed the original wells in 2016 which encountered gas within the field and has reported that it recognized enough remaining gas to warrant further investigative works. From remapping vintage seismic data, Bombora believes that existing wells are poorly positioned and that the central high of the structure remains untested. Unrisked, Prospective Resources were estimate in December 2016 as 16.6 PJ (15.6 Bcf), best estimate, for the central high. In May 2018 Pancontinental released upgraded gas and condensate volumes for the Walyering field to gross figures of 100 Bcf gas and 2.5 MMb condensate. In the case that new 3D seismic data supports the current mapping and size of the undrilled compartments, Pancontinental reports that it would have considered an appraisal / development well in 2019. The planned 3D seismic data will be required to improve the structure resolution around the faulted anticline before further appraisal drilling.   Strike reported on 14 June 2019 that it intends to complete the 90 sq km Walyering 3D seismic survey in 2019, scheduled to be undertaken in conjunction with other seismic plans in the Perth after approvals were planned to be completed in Q1 2019 by Pancontinental.    Pancontinental was to fund the 90 sq km survey, up to a capped amount of AUD 2.5 million, to earn a 70% interest in the Walyering field. The survey is designed to provide more data over the Walyering discovery with plans to then potentially see appraisal or development drilling in 2019.    EP 447, which covers an area of 1,108 sq km, was awarded on 12 April 2006.Â  Strike Energy, through its wholly owned subsidiary UIL Energy Ltd, holds 100% interest and operates the permit. Strike is offering a farm-in opportunity for the southern portion of the permit, covering 293 sq km, over the Walyering gas field.  Parties interested in the opportunity should contact:  Stuart Nicholls    Email: stuart.nicholls@strikeenergy.com.au
Pancontinental Oil & Gas NL was offering a farm-in opportunity for interested parties to enter exploration permit EP 447, located in the Perth Basin