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Petrel Energy

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WGO

AU0000042525

STX: West Erregulla Update

February 15, 2021 at 04:19 am IST

West Erregulla Update

• WE4 first intermediate hole section reaches final section depth of 2,635m.
• Casing is being run and will be cemented in place.
• Hydrocarbon shows seen in the Cattamarra Coal Measures which is analogous to WE2 and 3.

Strike Energy Limited (Strike - ASX: STX) provides an update on the drilling operations at WE4 behalf of the EP469 Joint Venture.

Current Operations

Since the last update, Strike has successfully completed drilling the 17-1/2" first intermediate hole section to 2,635m and is currently running the 13-3/8" casing.

Prior to reaching the casing point, hydrocarbon shows were observed in the Cattamarra Coal Measures as seen during the drilling of WE2 and WE3.

Forward Plan

Strike will finish casing and cementing of the first intermediate hole section and will then commence drilling the 12-1/4" second intermediate hole section.

About the West Erregulla Appraisal Campaign

Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m. West Erregulla 4 (and 5) will appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia / High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will also be appraised during West Erregulla 4 & 5.

The West Erregulla wells are to be executed at the following coordinates:

• West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E
• West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E
• West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E

Strike Energy Limited operator and the holder of a 50% joint venture interest in EP469, and Warrego Energy (ASX: WGO) a holder of the other 50% joint venture interest.

This announcement is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company's Continuous Disclosure Policy.

Company Contact	Investor & Media Contacts
Stuart Nicholls	Paul Ryan (Citadel-MAGNUS)
Managing Director & CEO	Phone: 0409 296 511
Email:stuart.nicholls@strikeenergy.com.au	Email:pryan@citadelmagnus.com

West Erregulla Gas Field & Well Locations in EP469

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Disclaimer

Warrego Energy Limited published this content on 15 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2021 22:48:00 UTC.

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Company Profile

Warrego Energy Limited is an Australia-based petroleum exploration, development and production company with assets in Australia and Spain. The Company's key projects include EP469 West Erregulla Gas Fields, EPA-0127, El Romeral and Tesorillo. Its EP469 is located approximately 230 kilometers (km) north-east of Perth in the North Perth Basin and covers an area of 224 square kilometers. Its EPA-0127 covers approximately 8,700 square kilometers, which is located approximately 130 km north of Waitsia and West Erregulla fields and is in the Coolcalalaya Sub-basin. The Tesorillo Project in located in the Cadiz Province of Southern Spain, which covers approximately 94,000 acres and comprises two petroleum exploration licenses, the Tesorillo and Ruedalabola Permits, and a conventional gas discovery at the El Almarchal-1 well. El Romeral is an integrated gas production and power station operation located on 76,600 acres in the Guadalquivir basin in southern Spain, immediately east of Seville.

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