Strike Energy’s PEL 96 contingent resources certified

Strike Energy said that consulting firm DeGolyer and MacNaughton has certified contingent gas resources at the Southern Cooper Basin Gas Project in PEL 96.

DeGolyer and MacNaughton has estimated a contingent gas resource for the initial zones that have been flow tested within the Le Chiffre 1 and Klebb 1 wells. As these zones only represent a portion of the net coal encountered at these locations, successful flow testing of additional zones will enable an increased contingent resource to be booked.

DeGolyer and MacNaughton has estimated a threshold economic field size of 150 Bcf of sales gas (gross) which is the minimum amount of gas required to be recovered to underpin a commercial development. The TEFS estimate was based on actual cost data and indicates that the existing 2C sales gas volume of 155 Bcf will be sufficient to underpin a project development.

1C and 3C sales gas volume (gross) have  been estimated at 105.05 and 225.7 respectively.

Strike Energy is the operator of the PEL 96 with a 66.7% while 33.3% stake in the Southern Cooper Basin Gas Project is held by Energy World Corporation.