STX 12.0% 28.0¢ strike energy limited

Analyst Notes and Price Targets, page-41

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    The full wagina flow test annoincement that you pasted did have the decline further down ?

    SE1 Wagina Flow TestingSE1 has proven conventional reservoir in the Wagina at ~4,200m (measured depth) with sufficient permeability to reach a peak initial rate of 35 mmscfd with reservoir pressures in excess of 7,000psi. This is a major exploration milestone for the play as it supports the conventional production potential of this Formation at this depth throughout the region. This potential has been confirmed by NSAI’s analysis and booking of the conventional 2C Contingent Resources. During the test, approximately 1,000m of completion fluid remained in the well during the test with the large 5.5” tubing string preventing the complete evacuation of the liquid. As the well was designed for the high-rate Kingia Sandstones, the Wagina did not produce a sustained rate high enough to meet the velocity required to lift the remaining fluid. This fluid likely compromised the final result of the test where sustained rates of 2 mmscfd at a FWHP of ~350psi were observed. These sustained flows are currently interpreted to be the rate at which the lower permeability rock was releasing gas into the higher quality reservoir before flowing to surface. The produced gas was measured to be dry and of a high quality with approximately 4-5% CO2 and negligible other measured impurities.


 
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