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How Did Strike Energy 's Bookara 3D Seismic Data Transform Oil Prospecting in the North Perth Basin? — ASX:STX| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$STX
How Did Strike Energy 's Bookara 3D Seismic Data Transform Oil Prospecting in the North Perth Basin?
Triangle Energy Unveils Major Oil Exploration Potential in Perth Basin
In a groundbreaking development, Triangle Energy Global Ltd (ASX:TEG) has made a significant discovery in the Perth Basin, unveiling substantial oil exploration potential in its acreage. The advanced analysis of Bookara 3D seismic data in Block L7 and EP 437, located in the onshore North Perth Basin, has exposed 12 new oil prospects. These findings not only underscore the prolific nature of the region but also mark a pivotal moment for Triangle Energy and its joint venture partners, Strike Energy Ltd (ASX:STX) and New Zealand Oil and Gas Ltd (ASX:NZO).
A Treasure Trove of Oil: Unraveling the Prospects
Deep Dive into Oil: Previously concentrated on deeper gas, the L7 exploration now reveals additional oil prospects through new seismic insights.
Vast Reserves: The 11 prospects in block L7 collectively hold an estimated 36 million barrels of oil
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(MMbbl) Best Estimate (Gross 100%).
Gas and Oil Blend: The Booth gas prospect in L7 boasts a Best Estimate Prospective Gas Resource of 279 Bcf (Gross). Intriguingly, the Dongara reservoir in the Booth prospect may harbor either oil or gas, estimated at 8.5 MMbbl or 19 Bcf of gas.
EP 437 Permit: Expanding Horizons
Becos: A Smaller Yet Significant Prospect: The adjacent EP 437 permit features the Becos oil prospect, drillable with a smaller rig than required for the Booth prospect. Becos holds a prospective resource range of 1 to 21 MMbbl, with a mid-case estimate of 5 MMbbl oil (Gross 100%).
Strategic Drilling and Partnerships: Upcoming Drilling Campaigns
Immediate Focus: The Booth-1 well in L7, targeting both oil and gas prospects, is slated for drilling as early as the first half of 2024.
MH-2 Updip Prospect: This candidate in permit L7, with potential for both oil and gas, is lined up for drilling following the Booth prospect.
Becos-1 Well: Also expected to be drilled in the first half of 2024, this well within EP 437 targets the Bookara sandstone.
Collaborative Ventures
Farming Out: Triangle has divested a 50% interest in L7 and EP 437 to Talon Energy (now part of Strike Energy) and New Zealand Oil and Gas, holding 25% each.
Shared Investment: Triangle’s share of the cost for the first three wells is projected to be $4 million.
Enhanced Exploration Portfolio
Gas Prospects: Alongside the newly discovered oil prospects, several gas prospects in the L7 permit, such as Huntswell Deep and MH-2 Updip, offer additional exploration opportunities.
Seismic Revelations: Ongoing seismic data evaluation has revealed a large basement high under the MH-2 Updip prospect, hinting at untested Jurassic to Permian oil-prone sandstone reservoirs near Mount Horner Oil Field.
The revelations by Triangle Energy mark a significant leap in oil exploration in the Perth Basin. The combination of new prospects, strategic partnerships, and planned drilling campaigns positions Triangle Energy and its partners at the forefront of unlocking the vast potential of this region.
This discovery not only enhances the company's asset portfolio but also promises to contribute significantly to the energy sector's growth. As Triangle Energy embarks on this ambitious journey, the industry watches with keen interest, anticipating the impact of these developments on global oil markets.
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L
Lykeshares
134d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
134d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
165d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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