Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Jan 2006drilling result▲ Good
Webernick 1 reached 12,200 feet with extensive gas shows comparable to Shefcik 1. Shefcik 1 testing began, with commerciality confirmed only after about three weeks. The next well moves to Shefcik 3 instead of Shefcik 2.
12 Jan 2006drilling progress report● Neutral
Webernick 1 hit lost circulation of drilling fluid at 11,359 feet, with repairs under way. Testing equipment is at Shefcik 1, with fraccing of the first interval due within days.
11 Jan 2006capital raising announcement▲ GoodMajor
Strike secured firm commitments for a 22 million share placement at 18 cents per share, about $3.96 million (calculated from text). Funds go to testing and developing the Mesquite gas discoveries and drilling Shefcik 2 in Texas.
10 Jan 2006drilling progress report▲ Good
Webernick 1 in Texas has hit gas shows in its main Wilcox target, at 11,359 feet depth. Drilling continues to a planned 12,200 feet, with shows to be evaluated afterwards. Strike holds 26.25%.
10 Jan 2006asset acquisition disposition▲ Good
Operator Comet Ridge has signed a letter of intent for 100% of 1,000 acres on the new Bear River oil prospect next to Tow Creek in Colorado. Strike, as partner, indicated it will take a 37.5% share. Drilling is planned for Q2 2006.
10 Jan 2006asset acquisition disposition▲ GoodMajor
Strike will acquire a 37.5% interest in the Bear River oil prospect in Colorado, next to its Tow Creek project, via operator Comet Ridge. Mostly a cover note attaching the Comet Ridge release.
9 Jan 2006investor presentation▲ Good
Strike Oil outlines a 2006 plan of 12-20 wells across Texas, Colorado, Carnarvon and Cooper basins. Notes its Tow Creek interest rose from 25% to 37.5% and two Cooper permits were farmed out. Mostly restates known activity.
5 Jan 2006drilling progress report▲ Good
Strike Oil says Shefcik 1 gas well in Texas will start production testing within two weeks, while Webernick 1 nears its targets. It holds 26.25% in both prospects; pre-drill potential is 10-15 and 15-20 billion cubic feet.
