SE3 annas 14 nov 23 South Erregulla Appraisal Drilling...

SE3 annas 14 nov 23 South Erregulla Appraisal Drilling CampaignThe South Erregulla-3 (SE-3) well was spud on the 21 st of October 2023. Strike is now in theintermediate section and has drilled down to 4,373m MD and expects to reach section depthshortly before casing and cementing with 9-5/8” casing. Strike will then run in to drill the well tototal depth which will pass through the primary target in the Kingia Sandstone.Strike observed considerable amounts of gas whilst drilling through the Beekeeper Formationwhich required prolonged flaring and circulation of mud gas. These conditions have beenmanaged safely and successfully and drilling operations were continued. Strike intends toconduct wireline logging of this section once reaching the casing point.The primary objective of the SE-3 well is to provide further data on reservoir characteristics anddistribution across the South Erregulla gas field to the North and West in order to expand theexisting 128 PJ of independently certified 2P Reserves1 prior to sanctioning development.

4/12/23 Successful appraisal at SE3 confirms the continuity of the South Erregulla gas fieldto the Northwest. Logging and petrophysical analysis across the primary reservoirindicates Conventional net gas pay of 13 metres.o Porosities up to 16.4%.o Reservoir pressures of approximately 6,746 psia.• Further successful appraisal of the potential SE CO₂ storage unit in the JurassicSandstone. 75m of net sand intersected, with a maximum porosity of 29%.