Strike Cites Fraccing Results at Steindorf Well

Strike advised that four zones of its onshore Steindorf-1 well in the Gulf Coast, USA have been fracced and the well is now cleaning up through test equipment with the gas being flared as planned.

The flare is a temporary measure to allow the well to produce back the fluids used to frac the well and to establish a flow of natural gas. Measurements of gas flow will be made once the well exhibits greater stability.

The Steindorf well was drilled on the Deerslayer prospect, which has a prospective gas resource of 200 billion cubic feet (Bcf) of gas. Strike has a 30 per cent interest in the prospect, which has the potential to significantly increase the Company’s gas and condensate reserves.

Strike Energy's Managing Director, Simon Ashton said, "The report of Steindorf-1 flowing back and producing gas through the test equipment is encouraging news, and is another very important step in being able to demonstrate the commerciality and significance of this well. We look forward to the production testing results over the next few weeks to provide further evidence of Steindorf's potential."