STX 2.78% 18.5¢ strike energy limited

Ann: West Erregulla Update, page-18

  1. 59 Posts.
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    Dongara/Wagina looks similar to WE-2. small streaks of pay that won't matter if the Kingia comes good.

    The bigger worry is that they are flaring gas and shut in the well to build mud weight. This suggests they took a kick in the over-pressured Carynginia and briefly lost control of the well. Gas in the Carynginia means nothing - it's a source rock out here but Overpressure suggests it has no-where to escape to. Good in that is implies faults are sealing, bad in that it implies it's not connected to porous rock.

    With ~800m to drill it's going to be very slow going and hard drilling if they are managing pressure. I hope they have LWD Pressure-while-drilling tools otherwise they could get stuck.

    I wounder how the budget is going? 93 days and counting
 
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