3 Mar 2011drilling progress report● Neutral
Sadie 1 is setting a 9 5/8-inch liner at 7,690 feet, with the 12,500-foot target expected in 3-4 weeks. No new result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Feb 2011drilling spud● Neutral
Sadie 1 spudded over the weekend at Homeplace, Texas, and is at 2,285 feet. Target is 15-20 Bcf at 12,000 feet, about 40 days to drill. Strike holds 40% and will give weekly updates. Opens the six-well 2011 program.
15 Feb 2011drilling scheduled▲ Good
Strike expects to spud Sadie 1 within a fortnight, the first of six 2011 US wells, targeting 15-20 Bcf at Homeplace to 12,000 feet. Strike's interest rose from 30% to 40%.
28 Jan 2011drilling progress report● Neutral
Steindorf 1 was perforated and fraccing could start as soon as 1 February, with production testing to follow over several weeks across multiple zones. This put testing slightly behind the late January start earlier flagged, and commerciality remained to be shown.
7 Dec 2010drilling scheduled● Neutral
Steindorf 1 has production casing set. Testing is planned for late January, when fraccing equipment becomes available. The Deerslayer prospect is 200 Bcf prospective, Strike 30%. Follows November's encouraging logs; commerciality still unproven.
19 Nov 2010drilling progress report● Neutral
Wireline logging and evaluation of the gas shows at Steindorf 1 continue, expected to finish in 1-2 days, before deciding whether to complete the well for production testing. Same timing as 16 November.
16 Nov 2010drilling result▲ Good
Steindorf 1 reached 14,800 feet, deeper than planned, with encouraging gas shows in the main Wilcox target. Wireline logging comes next, then a decision on production testing. Not yet a declared discovery.
10 Nov 2010drilling progress report● Neutral
Steindorf 1 is drilling ahead at 13,582 feet, slower than expected, with the target expected within seven days. No new result.
3 Nov 2010drilling progress report● Neutral
Steindorf 1 is drilling ahead at 12,608 feet after setting the liner, with the 14,500-foot target expected in 7-10 days. No new result.
28 Oct 2010drilling result▲ GoodMajor
Lab tests on Forge 1 coals show gas of about 40 scf/ton, even in weathered coal, which the company says points to better gas in deeper coals. Next Southern Cooper drilling is likely delayed to first half 2011 (weather, rig availability).
27 Oct 2010drilling progress report● Neutral
Liner setting at 11,450 feet at Steindorf 1 is well underway, with the 14,500-foot target still said to be within two weeks, the same timing as last week. No new result.
20 Oct 2010drilling progress report● Neutral
Steindorf 1 is setting a liner at 11,450 feet before drilling to the 14,500-foot objective, expected within two weeks. No new result.
13 Oct 2010drilling progress report● Neutral
Steindorf 1 is drilling ahead at 10,830 feet after setting casing at 10,100 feet, and is expected to reach the target zone in two to three weeks. No new result.
6 Oct 2010drilling progress report● Neutral
Steindorf 1 is setting casing at 10,100 feet, on schedule to reach the target zone in three to four weeks. No new result.
29 Sept 2010drilling progress report● Neutral
Steindorf 1 (Deerslayer, Strike 30%) is drilling ahead at 7,620 feet toward 14,500 feet, about 40 days total. Success could give a five-fold rise in US reserves. Weekly updates promised. Spud date given as 15 September, versus 16 September earlier.
23 Sept 2010resource reserve update▲ GoodMajor
Net 2P reserves at the Rayburn, Mesquite and Louise fields rose 77% to 13.22 Bcf gas and 0.21 MMbbl condensate at 30 June 2010, mostly from the Louise discovery. 1P rose 62% to 12.11 Bcf. An independent report is due in the December quarter.
21 Sept 2010drilling spud● NeutralMajor
Steindorf 1 on the 200 Bcf Deerslayer prospect (Strike 30%) spudded 16 September and was at 2,357 feet. Planned depth is 14,500 feet, about 40 days. It is the third well of the 350 Bcf program after Starnes dry and Muegge suspended.
15 Sept 2010drilling scheduled● Neutral
Drilling is due to start this week on Steindorf 1 at the Deerslayer prospect (Strike 30%), Live Oak County, to 14,000 feet in about 40 days. It targets 200 Bcf of prospective gas, potentially a 5 to 10 fold rise in Strike's reserves.
26 July 2010drilling result● NeutralMajor
Forge 1 has been suspended at 1,351m, before reaching the deeper Patchawarra coals, so drilling can resume later with different equipment. The 15m Epsilon coal is called promising. A rig for the next stage is not yet confirmed. Texas drilling to resume this quarter.
16 July 2010drilling result▼ BadMajor
Muegge 1 reached 13,650 feet with gas shows in the Wilcox, but log interpretation is inconclusive and the well is suspended pending evaluation. Not a declared discovery. Steindorf 1 timing is undecided but still expected this quarter.
15 July 2010drilling result▲ GoodMajor
Forge 1, Strike's first Cooper Basin coal seam gas well (PEL 96, 66.7%), cored a 15-metre gassy coal seam at 1,311-1,326m. Gas was seen in mud logs and core, an early encouraging sign for the 3,700-9,300 PJ prospective estimate. Deeper coals remain untested.
7 July 2010drilling progress report● Neutral
Muegge 1 (Strike 30%) is drilling again at 12,740 feet after mechanical delays, with total depth expected within ten days. Steindorf 1 may be delayed while the operator reviews it. Forge 1 has drilled to 765m, heading for 1,505m.
29 June 2010drilling spud▲ GoodMajor
Maiden CSG drilling began at PEL 96 with the Forge 1 spud on 28 June, after months of flood delays. Strike (66.7%) targets 3,700-9,300 PJ of prospective gas, starting with two to four wells of up to 1,600m.
17 June 2010drilling result▼ BadMajor
Starnes 1 reached 13,030 feet with gas shows but no commercial pay; it is being plugged and abandoned. This is the program's first dry hole. Muegge 1 is delayed by mechanical problems, with total depth now expected late June to early August.
20 May 2010drilling spud▲ Good
Starnes 1 (Pathfinder prospect, Live Oak County, Strike 30%) spudded 15 May, the second well of the 350 Bcf program. Muegge 1 is at 7,760 feet. Louise continues to flow to sales at commercial rates.
29 Apr 2010drilling spud▲ Good
Muegge 1 (Homestead prospect, Strike 30%) began drilling on 28 April, to 14,000 feet in about 45 days. Starnes 1 is due in early May. Flow testing of the Louise discovery well is due to start, with all test gas sold.
16 Apr 2010drilling progress report● Neutral
The rig for Muegge 1 on the Homestead prospect has been mobilised and is rigging up after truck delays. Spud is expected before the end of April. It is the first of the three-well, 350 Bcf program.
8 Apr 2010drilling scheduled▲ GoodMajor
Eaglewood JV (Strike 30%) has contracted two rigs for a three-well Texas program (Homestead, Pathfinder, Deerslayer) targeting up to 350 Bcf, about 100 Bcf to Strike's share. First drilling starts within a week. Louise production facilities near completion.
23 Mar 2010drilling scheduled▼ Bad
Floodwater cut the Strzelecki Track, delaying the PEL 96 coal seam gas corehole program, planned for early April, by at least two months. No drilling equipment had been mobilised. This is another delay after the earlier January and February slips.
19 Feb 2010drilling result▲ GoodMajor
Strike reports a significant gas discovery at Gardner Duncan 1 (30% interest), with gas pay from logs. Testing to confirm commerciality takes 4-6 weeks. The company says its share could double reserves; a 100 Bcf Wilcox prospect is next, offsetting the Louisiana dry hole.