Strata X announces 83% increase in prospective gas resource at Serowe CSG project, Botswana

Highlights:

MHA Petroleum Consultants, independent qualified reserve and resource certifiers, have certified the following gas resources within Strata-X’s 100% owned Serowe CSG Project in Botswana.

  • 6.08Tcf total Prospective Resources net to the Company, an increase of 83%.
  • 2.38Tcf Prospective Resource within the Company’s interpreted high-grade area, an increase of 40%.
  • Maiden 23Bcf  2C Contingent Resource, net to the Company, around Strata-X’s recent 19B-1 well.

Strata-X Energy has announced that, following the integration of regional data and data acquired in Strata-X’s latest 19B-1 well, MHA Petroleum Consultants have upgraded the gas resources within  the Company’s 100% owned Serowe CSG Project.

Over the Serowe CSG project, the total Prospective Resource certified net to the Company is now 6.08Tcf, representing an increase of 83% or 2.78Tcf more than the previous resource certification.  Included in this increase within the interpreted high-grade area, a Prospective Resource of 2.38Tcf was certified, an increase of 40% over the previous certification.

An area immediately surrounding Strata-X’s recently drilled and logged 19B-1 well was certified to contain 2C Contingent Resources of 23Bcf of natural gas. The 19B-1 well intersected 18 metres of net coal with 12 metres of multi seam bright coals having up to 100% gas saturations. During drilling of the target coals, natural gas was breaking out and bubbling to the surface.

The Company’s focus on the high-grade area will be a major growth driver. A four-well appraisal drilling and production testing programme within the high-grade area that steps out from the 19B-1 well location is being planned and tendered. The proposed programme, utilizing best practices learned from the work to date, is designed to upgrade prospective resources to contingent resources – with subsequent upgrades of contingent resources to reserves contingent on proving commercial gas flow rates. The four-well appraisal programme will include the production testing of wells to acquire fluid flow rate data as required to design a multi-well CSG production pilot programme to prove commercial gas flow rates.

For the proposed CSG production pilot programme, the Company plans to apply proprietary completion and production methods designed to yield commercial gas flow rates. The Company has access to the resources of Wellpro Services, a private Queensland-based service company with expertise in CSG well completions and production methods. Wellpro has proprietary methods and equipment designed to minimize the time to commercial gas flow rates which the Company intends utilize in the pilot.

Ron Prefontaine, Strata-X’s Chairman, issued the following statement:

‘These resource upgrades confirm what we have long interpreted, that Strata-X’s high-grade area occupies a premier position within the Kalahari CSG fairway and we are on the verge of delineating a major CSG field. Our plan is to systematically upgrade the prospective resource in our high grade area to reserves thereby building substantial shareholder value.’

The Company holds 4,784 KM2 (1,129,000 acres) over the Serowe CSG Project with a certified Prospective Resource of 6.05 TCF.

 

Source: Strata-X

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