Strike Oil will participate in the drilling of seven oil and gas wells over the next nine months. Two wells in offshore Carnarvon Basin permits are scheduled for drilling in the second quarter, Ceres-1 in WA-261P and Altostratus-1 in TP/17.
The Ceres and Altostratus prospects lie on trend with the nearby Stag Oilfield, which contains an estimated 50 million barrels of recoverable oil. Both Ceres and Altostratus hold about the same size potential.
In the offshore Otway Basin, Strike holds a 50 per cent interest in permit VIC P44 in joint venture with Santos Ltd that includes the drilling of one well that will target the large Casino prospect (1tcf). Drilling is scheduled in the later half of the year.
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