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21.0¢ strike energy limited

Ann: June 2016 Quarterly & Appendix 5B-STX.AX, page-103

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mir911

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09/08/16

00:16

Post #: 18472605
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Originally posted by psi81 ↑

From memory we were actually discussing the Toolachee coals, what they have perforated are the Epsilon coals which sit just about the Patchawarra and are separated from the Toolachee by a big unconformity.

If you look at the WCRs you will see the Toolachee coals are the lowest gas response (and desorption measurements in Chiffre), the Epsilon coals are a bit higher gas readings and the Patchawarras are higher again. But the Epsilons are conformable with the Patchawarra so in terms of rank, they will be closer to the Patchawarra than the Toolachee.

So the Epsilons have more chance of flowing gas than the Toolachees, but whether they're saturated enough to flow commercially I don't know, I tend to doubt it. I think they will likely get good water rates and probably some gas if they can pump it down enough but a single well pilot is a very bad setup to try and flow gas from undersaturated reservoirs.

But it's worth testing. This play has already surprised us all once by being much more saturated than the data indicated.

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psi
the chat I had with DW was about the shallower coals, so I am not sure if it was the Epsilons or the Toolachee he was referring to but he was pretty happy with what they saw.

STX Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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