Strike Energy Limited ( (AU:STX) ) has issued an announcement.
Echelon Resources Limited announced that the Becos-1 well in the Perth Basin, drilled by the EP437 joint venture, did not encounter economically viable hydrocarbons and has been plugged and abandoned. Despite the disappointing outcome, the company remains committed to evaluating the results to inform future exploration strategies. The joint venture, which includes Triangle Energy and Strike Energy, will assess the impact of this result on the prospectivity of the blocks involved. Triangle Energy, the operator, highlighted the complexities of the hydrocarbon system in the region but remains optimistic about future exploration opportunities.
More about Strike Energy Limited
Echelon Resources Limited is an Australasia-focused energy commodity exploration and production company headquartered in Wellington, New Zealand. The company is involved in both onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia. Echelon is committed to ethical development and exploration activities, maintaining strong ESG standards, and is actively seeking additional value-accretive producing and exploration assets.
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