Strike Energy Reports Smooth Progress at Western Australia Well; Shares Fall 4%

MT Newswires Live04-23 11:53

Strike Energy (ASX:STX) has safely cased the intermediate section of its Walyering West-1 exploration well at 2,596 meters and is continuing drilling at 2,670 meters within the Cattamarra coal measures, marking steady progress in its fully owned L23 license, according to a Thursday filing with the Australian bourse.

The well is planned to be drilled to a total depth of around 3,639 meters to assess the reservoirs in the Cattamarra formation, followed by wireline logging operations, per the filing.

Initial results are expected in early May, and if successful, the well will be cased and suspended for further testing, including possible production evaluation, the filing added.

The company's shares fell 4% in recent Thursday trade.

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