Cooper Basin

Strike's Cooper Basin exploration permits are known to contain extensive hydrocarbon bearing shales, coals and sands.  We have an active exploration and evaluation program aimed at demonstrating the commercial potential of this massive prospective resource.

Strike's Cooper Basin Highlights

•  Extensive hydrocarbon bearing shales, coals and sands – up to 800 meters thick
•  Two unconventional wells planned for Q1/2012 targeting unconventional hydrocarbon formations
•  Potential for liquids recovery
•  Access to pipeline infrastructure and eastern and southern gas markets
•  Experienced joint venture partners

Strike's Key Permits

Cooper Basin Permits

Strike's Value Creation Strategy

The Cooper Basin is known as Australia’s most prolific onshore hydrocarbon region.  Since the 1970s, the Cooper Basin has supplied more than 5 Tcf of gas to Australia’s eastern and southern gas markets. 

There is now very high interest in the Cooper Basin’s unconventional potential – recovery of gas and liquids from shale, coal and sand formations.  The Cooper Basin is preferred because it has been extensively explored, the geology is relatively well understood and gas processing and pipeline infrastructure is already in place.  Thick inter-bedded shales, coals and sands are known to exist throughout the Cooper Basin in the Toolachee, Roseneath, Epsilon, Murtaree and Patchawarra formations;  and advances in horizontal drilling and extraction technologies mean that previously trapped hydrocarbons can now be recovered.  This concept has now been de-risked by the successful drilling of the first Cooper Basin wells specifically targeting unconventional formations.  Beach Energy (the operator of Strike’s PELs 94 and 95) has reported a 2 Tcf contingent resource on the basis of its Holdfast #1 and Encounter #1 unconventional well results;  and Senex Energy (also a partner in PEL 94) has reported continuous liquids-rich gas shows from its Vintage Crop #1 well, which is less than 3km from Strike’s PEL 95.

Strike has one of the largest exposures to the Cooper Basin with over four million net acres (over 16,000 km²) of permits and applications.  Our permit areas are on the southern flanks of the Cooper Basin which is less thermally mature than the centre of the basin, meaning that gas is likely to be liquids-rich.  The unconventional formations in our permit areas are also comparatively shallow, meaning that drilling costs will be significantly lower.  A number of conventional wells have been drilled in Strike’s permit areas so the existence of hydrocarbon bearing shales, coals and sands is well known.

With a substantial acreage position in place, Strike’s focus is now shifting to proving the existence, quantum and recoverability of underlying liquids and gases.  We have a planned two well unconventional exploration program for Q1/2012, with one vertical evaluation well to be drilled in each of PEL 94 and PEL 95.  The wells are expected to confirm the presence of gases and liquids and form the basis for future exploration and development activity.  The wells are the first step in unlocking the value of Strike’s Cooper Basin assets.

Strike's Key Permits:

PERMIT	INTEREST	OPERATOR	NET AREA (km2)	COMMENTS
PEL 94	35%	Beach Energy	631	High unconventional potential.  One well Q1/2012
PEL 95	50%	Beach Energy	1,291	High unconventional potential.  One well Q1/2012
PEL 96	66.7%	Strike Energy	2,707	High unconventional potential
PELA 71	75%	Strike Energy	4,609	Conventional potential.  Native title process underway
PELA 515	100%	Strike Energy	3,038	Conventional potential.  Native title process underway
PELA 575	100%	Strike Energy	3,804	Conventional potential.  Native title process underway

 

AUD$0.170 (0.000)

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