Three strikes but not out

摘要

Strike Oil Ltd's first three wells have disappointed the junior explorer,which had high expectations of making a discovery in the afterglow of its listing.However both 2004's high risk Altostratus-1 well (Strike 90%) and 2005's Cooper-1 (Strike 40% and operator,Victoria Petroleum Ltd 32.5%,Bow Energy Ltd 10%,Sun Resources NL 10% and Black Rock Oil & Gas plc 7.5%) on the Champion Prospect in EP325 have been plugged and abandoned,while Boojam-1 (Strike 50%,Tap Oil Ltd 50% and operator) in permit TP/18 in the Carnarvon Basin discovered only a small,non-commercial gas accumulation.