Strike Energy Ltd (ASX: STX) is hoping to set up an appraisal well targeting a resource to reserve conversion at the 306-petajoule Ocean Hill gas discovery
Strike said the 3D seismic acquisition program at Ocean Hill covered 256 square kilometres and was delivered on time and under budget, with Strike aiming to better define the field’s structure and faulting and develop guidance from a yet to be drilled appraisal well.
The latter project would depend on how the company applies proprietary information about discovery and development of the Walyering gas field, in which it owns a majority 55 percent stake.
Similarly to Walyering, the Ocean Hill project contains gas which is low in impurities and rich in condensate and not far from pipeline Compressor Station-8, which is part of the Dampier to Bunbury Natural Gas Pipeline.
Alongside its work on Ocean Hill, Strike has also kicked off a 2D seismic survey across 479 square kilometres at the Arrino-Kadathinni Complex to define and interpret 100 square kilometres of combined closure, which the company has suggested could be the Basin’s next Permian frontier.
Strike Energy has been trading at 21c.