STX 0.00% 23.5¢ strike energy limited

Ann: Quarterly Update & Appendix 5B, page-26

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 6,317 Posts.
    lightbulb Created with Sketch. 2512
    I'm happy with that. I think that points the finger firmly at the pumps, as suspected.

    There does seem to be significant wellbore damage because that BHP has dropped like a stone at both wells on low water and low gas rates. That's not a good sign, it means effective permeability is lower than previously stated, around 1 mD by my calculation.

    I don't think they are ever going to get stellar gas rates out of this pilot but if they can keep the wells online they will probably be in a position to declare technical success in the next few months. One good sign is that when they put the wells back online, the starting BHP on both of them was only 1200 psi. That suggests significant progress in depressurising the reservoir.
 
watchlist Created with Sketch. Add STX (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.