The well will be drilled to a proposed depth of 12,500 feet (3,810 metres) to test the Wilcox Formation target on the Mesquite B Prospect.

It is the first of four ‘deep’ wells ranging in depths from around 8,500 feet to 12,500 feet planned to be drilled over the next three to six months in areas including the Mesquite A and B, the Tahoe L and the Kangaroo C Prospects.

“Success in any of these wells will provide for early cash flow for the company,” said managing director Simon Ashton.

The Mesquite B Prospect has 10 to 15 billion cubic feet of gas potential and the adjacent Mesquite A Prospect has 15 to 20 billion cubic feet of gas potential, according to Strike.

Both these prospects are targeting the same reservoir formation on the same broad structure in adjacent leases on which competitors have drilled six wells in the last 8 months with publicly announced test results of between 5.4 to 16.9 million cubic feet of gas per day per well.

“Success at the Shefcik 1 well will have a significant material impact on the value of Strike Oil due to the significant interest being earned of 26.25%, the size of the prospect, including the potential for several follow up drilling locations, and the current high spot gas price,” Ashton said.

Strikes previous three-well Texas program produced a string of dusters.