Strike Energy released this ASX announcement earlier this morning:
Pel 96 appraisal drilling results:
1. Results have materially de-risked key parameters project resource and cost estimates.
2. Klebb 1 well wire logs encountered 145m of net coal.
3. Very thick coal development in excess of pre-drill estimates (118% exceeding estimates for LeChiffre 1 well and 164% for Klebb 1 well).
4. Shallow well depths (<2,200m) combined with very thick coals, will allow for simple, low cost drilling, completion and production programs to be implemented.
the hype is in the pipe, page-21
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