Strike Energy Updates on Southern Cooper Basin Gas Project in PEL 96

Strike Energy Ltd. provided Thursday an update on operations at the Southern Cooper Basin Gas Project in PEL 96 in Australia.

Production testing at the Klebb field has continued during May with a series of pump and well configuration trials undertaken to confirm pump operating limits and optimum operating modes. The response of the wells continues to track in line with previous production experience although Klebb 3's productivity has improved with water production currently in excess of 550 barrels of water per day (bwpd).

As for Klebb 4 completion and testing plan, the Klebb 4 fracture stimulation and electric submersible pump (ESP) installation is on track to be completed in June. When the frac has been pumped, the ESP and control systems will be installed and commissioned with production testing commencing in early July.

Water production capacity from the four Klebb wells will approach 2,000 bwpd, almost doubling the overall dewatering rate of the Klebb pilot to date.

"This will significantly accelerate pressure reduction around the wells and, accordingly, the volume of coal contributing to gas production," the company said in a press release.

Strike has a 66.67 percent operating interest in the project, while partner Energy World Corporation holds the remaining 33.33 percent stake.


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