Strike Energy Ltd.’s Jaws-1 Project is progressing on track

Update on Jaws-1 Project: Strike Energy Ltd.’s (ASX: STX) stock rose 11.538% on June 28, 2018. The company updated about the Jaws-1 Project, the wells of which are expected to come online in early July 2018. The company will then able to start production testing and can confirm the commercial quality of the Southern Cooper Basin Gas Project (SCBGP) in PEL96 (Strike 66.67% and Operator, Energy World Corporation 33.33%). Meanwhile, STX has completed running production tubing and Electric Submersible Pumps (ESPs) into each of the Jaws-1 Project wells. The company has demobilized the Workover Rig 8 (TDC) from site. The ESPs are fitted with sensors to give live downhole information to monitor and control the depressurisation of the reservoir. This has been done to incorporate the learnings from Strike’s piloting history on the Southern Cooper Basin Gas Project. Moreover, after the rig demobilization, the surface construction has progressed well. The remaining work left is to connect high voltage power to the ESPs, and tie in the new wells to the existing pilot testing facility will commence. As a result, STX stock has risen 83.10% in one month as on June 27, 2018.


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