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    Oz Strike Takes Interest in North Perth Basin Permit

Summary

Australia-listed Strike Energy has completed its transaction with private development and production company Warrego Energy for the acquisition of a 50% interest and operatorship of the North Perth Basin exploration permit EP469, which sees Strike extend its exploration to the country’s west.

by: Nathan Richardson

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Natural Gas News, Asia/Oceania, Corporate, Mergers & Acquisitions, Exploration & Production, News By Country, Australia

Oz Strike Takes Interest in North Perth Basin Permit

Australia-listed Strike Energy has completed its transaction with private development and production company Warrego Energy for the acquisition of a 50% interest and operatorship of the North Perth Basin exploration permit EP469, which sees Strike extend its exploration to the country’s west.

The two companies will now form a joint venture for the further exploration and appraisal of the permit.

“Strike is excited to have completed the EP469 transaction and to form a joint venture with Warrego Energy. The technical work done to date by Igesi Consulting and Strike shows an extremely attractive Watisia analogue within EP469,” Strike’s managing director Stuart Nicholls said.

“In addition to the geological attractiveness, EP469 is surrounded by abundant gas infrastructure, which after initial success ought to make for a quick and low-cost development. The addition of this asset to the Strike portfolio has the potential to be transformational and huge value attractive,” he added.

Strike is targeting drilling at the permit in early 2019. The company also has the Jaws-1 project well in the east coast’s Cooper Basin.