Strike provided an update on its US Onshore Gulf Coast operational activities.
Steindorf-1 Production Testing
Production testing of its onshore Steindorf-1 well in the Gulf Coast, USA, has been completed and analysis of results is ongoing.
The production testing results will provide valuable information to be integrated with seismic data to assist in predicting reservoir quality on future targets as the Joint Venture continues to build on its knowledge and understanding of the “Wilcox Hydrocarbon Trend” and the untapped potential that this trend offers.
Sadie-1 Drilling Ahead
The Sadie-1 exploration well is targeting a prospective gas resource of 15-20 billion cubic feet (Bcf) in the Homeplace prospect, Wilcox Formation. Strike holds a 40% working interest.
The well, which spudded on February 18, is currently drilling ahead at 2,370 feet (723 meters). The proposed total depth is 12,500 feet (3,881 meters) and it is expected to take approximately a further 35 days to drill.
Drilling success holds the potential to provide a significant addition to the Company's reserve inventory. Sadie-1 is the first well in a six well drilling program targeting Wilcox Formation Plays of the type that lead to past gas/condensate discoveries at Rayburn, Mesquite and Louise. Weekly updates on drilling progress will be provided.
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