Strike Energy Limited

The Cooper-Eromanga Basin has experienced resurgence in exploration since large areas previously held under long-term tenure were divided and released. Numerous small oil discoveries have been made both within the Cooper Basin and notably on the flanks of the basin within the Eromanga Basin sequence.

Strike Energy’s permits flank the southern and western margins of the Cooper Basin. The assembled portfolio contains opportunities for both conventional oil and gas opportunities (PEL 96 and PELA 71), and Coal Seam Gas and Underground Coal Gasification (PEL 96). Refer to CSG section for more details.

Results for June Quarter:

PEL 96 was granted on 13 May 2009. The licence is the first granted under the Yandruwandah/Yawarrawarrka Petroleum Conjunctive Indigenous land use Agreement.

Planned for September Quarter:

A drilling program is being planned to commence in the last quarter of 2009 as a first step to test and confirm the CSG and UCG potential of PEL 96.
Finalise Native Title agreement for PELA 71, located approximately 27 kilometres to the west of recent oil discoveries by other companies on the western flank of the Cooper Basin.

Permit	State	Strike Interest	Operator	Prospect	Prospective Resource
PELA 71(1)	SA	75%	STRIKE	Mulapula	1-5 MMbbl
PELA 96	SA	66.67%	STRIKE	CSG	8-20 Tcf
ATP-549P(2)	QLD	5%	EWC	Work in Progress	-

(1) Award subject to native title agreement
(2) Cypress sub-area

Vibrators in the Cooper Basin (courtesy of Bruce Beer)