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Petrel Energy

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WGO

AU0000042525

STX: West Erregulla Update

January 24, 2021 at 10:18 pm

25th January 2021
	ASX: STX The Company Announcement Officer ASX Ltd via electronic lodgement

West Erregulla Update

WE4 has spudded and commenced drilling operations.
WE3 was successfully suspended after encountering an over-pressured gas column.

Strike Energy Limited (Strike - ASX: STX) provides an update on the West Erregulla Appraisal Campaign well on behalf of the EP469 Joint Venture.

Current Operations

Since the last update, Strike has successfully suspended WE3 with a series of cement plugs. Subsurface, Engineering and Procurement works are ongoing with regards to the plan on taking WE3 to final depth. Post the suspension of WE3, Rig 970 packed down, moved and setup at the WE4 lease. The operations went smoothly without incident and the efficient move has allowed for several maintenance programs to be carried out.

After the completion of the pre-spud checklist, WE4 was officially spud over the weekend and drilling operations have commenced.

Forward Plan

Strike will drill the 26" surface hole section from the pre-installed conductor to a nominal depth of 1,200m.

About the West Erregulla Appraisal Campaign

Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m. WE4 and 5 are designed to appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia and High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in WE2 will be appraised during WE4 & 5.

The West Erregulla wells are to be executed at the following coordinates:

West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E (suspended)
West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E
West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E

Strike Energy Limited operator and the holder of a 50% joint venture interest in EP469, and Warrego Energy (ASX: WGO) a holder of the other 50% joint venture interest.

This announcement is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company's Continuous Disclosure Policy.

Company Contact	Investor & Media Contacts
Stuart Nicholls	Paul Ryan (Citadel-MAGNUS)
Managing Director & CEO	Phone: 0409 296 511
Email: stuart.nicholls@strikeenergy.com.au	Email: pryan@citadelmagnus.com

West Erregulla Gas Field & Well Locations in EP469

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Warrego Energy Limited published this content on 25 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2021 22:17:02 UTC

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Company Profile

Warrego Energy Limited is an Australia-based petroleum exploration, development and production company with assets in Australia and Spain. The Company's key projects include EP469 West Erregulla Gas Fields, EPA-0127, El Romeral and Tesorillo. Its EP469 is located approximately 230 kilometers (km) north-east of Perth in the North Perth Basin and covers an area of 224 square kilometers. Its EPA-0127 covers approximately 8,700 square kilometers, which is located approximately 130 km north of Waitsia and West Erregulla fields and is in the Coolcalalaya Sub-basin. The Tesorillo Project in located in the Cadiz Province of Southern Spain, which covers approximately 94,000 acres and comprises two petroleum exploration licenses, the Tesorillo and Ruedalabola Permits, and a conventional gas discovery at the El Almarchal-1 well. El Romeral is an integrated gas production and power station operation located on 76,600 acres in the Guadalquivir basin in southern Spain, immediately east of Seville.

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