PERTH (miningweekly.com) - ASX-listed Strike Energy on Tuesday is poised to start a two-dimensional seismic campaign at its Eneabba Deep operation, after receiving all the necessary regulatory approvals for the 128-km campaign, giving wings to its previously announced gas acceleration strategy.
The company earlier this year unveiled the strategy to bring up to four gas fields into commercial production by 2025, using the near A$136-million in proceeds from the sale of its Warrego Energy stake to suitor Hancock Energy.
Strike told shareholders on Tuesday that with its proximity to the 100%-owned Ocean Hill gas discovery, and subject to successful exploration drilling, Eneabba Deep represented an opportunity for inclusion in a regional development or alternatively to feed the immediately adjacent industrial demand where rare earth producer Iluka is currently constructing a rare earth refinery.
Iluka last year took a final investment decision on its Eneabba rare earths refinery, which is expected to cost between A$1-billion and A$1.2-billion, and would have a 17 500 t/y total rare earth oxide capacity. First production from Eneabba is expected in 2025.