Excellent WE3 results confirm extension of field to the north •...

Excellent WE3 results confirm extension of field to the north • WE3 has confirmed the high-quality conventional gas resource in the northern extent of the West Erregulla gas field in the Kingia Sandstone. • Logging and petrophysical interpretation across the Kingia includes: o Net pay of 38m in a 60m gross gas column. o Average porosity of 13.8% and up to 19%. o No gas water contact encountered. • NSAI to be engaged to review the Reserve and Resources booking for the West Erregulla field following the positive WE3 results. Strike Energy Limited (Strike - ASX: STX) provides an update on the results for WE3 at the West Erregulla gas field on behalf of the EP469 JV, where the WE3 well has confirmed the extension of the high-quality, conventional gas field within the Kingia Sandstones in the Perth Basin. WE3 Results The Kingia Sandstone reservoir was encountered between 4,731m MD and 4,791m MD with a gross gas column of 60m. Mud logs, logging while drilling and wireline logging tools were used to evaluate the Kingia Sandstone. The Kingia is made up of a single package of high-quality reservoir totalling 38m of net pay with an average porosity of 13.8% and up to 19%. The sands within this section are observed to be consistent with other Kingia penetrations for the field and across the broader play. Petrophysical analysis shows no gas water contact having been observed in the logs or whilst drilling. The WE3 reservoir characteristics are the best observed in the field to date. This aligns with WE3 being the shallowest penetration of the wells drilled in the field so far with the Kingia Sandstone reservoir section being encountered 30m shallower than the discovery well at WE2