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Strike Energy secures block CO2013-B in South Australia' s Cooper basin

PADDINGTON, Australia -- Strike Energy Limited reported that it has been successful in its application for block CO2013-B in the Cooper Basin exploration acreage release by the Government of South Australia.

CO2013-B (Strike 100.0%) has an area of 3,443 sq km (850,786 acres), is located directly adjacent to PEL 96 (Strike 66.7%) and contains the western extension of the Weena Trough. Strike’s committed work program for the CO2013-B permit after the completion of the necessary native title agreements and formal award of the permit is two exploration wells to evaluate the extension of the thick coals, the current focus of Strike’s Southern Cooper Basin Gas Project.

The work programs on all of the blocks in the acreage release are substantial, reflecting the strategic importance and prospectivity of the Southern Cooper Basin.

Managing Directors Comment

“We are extremely pleased to be offered the opportunity to further advance our evaluation of the Weena Trough coals in CO2013-B, which will complement our commercialisation strategy for the Southern Cooper Basin Gas Project by delivering a larger footprint in a highly prospective area.

In addition, Strike is encouraged by the significant increase in exploration activity by established Cooper Basin players across the Southern Cooper Basin, adding value to our broader portfolio.”

08/27/2014

 

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