STRIKE ENERGY LIMITED (ASX:STX) - Ann: Clarification - ASX Announcement 14 January 2019, 37546440, page-17 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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kmuirhead

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24/02/19

13:20

Post #: 37546440
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Originally posted by rexsh: ↑

Hi ADL,

69% (not 68) is the COS relating to West Erregulla not Jaws. That is a very high pre-drill number.

Nothing has changed on Jaws. The reservoir is the same, all the ingredients are there, and the well is intact. They had a technical issue (obstruction in the well bore), but if anything they now understand more about it, which is good when you are pioneering a well like this. The COS there hasn’t changed as a result of the gas event. It could even be argued that the COS has increased because that gas event was substantial and shows that when the bhp is brought down into reservoir desorption pressure it can really perform. They only had it at the start of that desorption pressure for a very small period of time. So when they get back there again we should see some good things happen.

It is pioneering though so anything can happen.

IMO

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Does anyone have an estimate of what the company will be worth if West Erregulla is a success?

Originally posted by rexsh: ↑

Hi ADL,

69% (not 68) is the COS relating to West Erregulla not Jaws. That is a very high pre-drill number.

Nothing has changed on Jaws. The reservoir is the same, all the ingredients are there, and the well is intact. They had a technical issue (obstruction in the well bore), but if anything they now understand more about it, which is good when you are pioneering a well like this. The COS there hasn’t changed as a result of the gas event. It could even be argued that the COS has increased because that gas event was substantial and shows that when the bhp is brought down into reservoir desorption pressure it can really perform. They only had it at the start of that desorption pressure for a very small period of time. So when they get back there again we should see some good things happen.

It is pioneering though so anything can happen.

IMO

Expand

STX Price at posting: 7.0¢ Sentiment: None Disclosure: Held
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