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by Woodside in January 2022, which did not low-cost development profile will likely and production testing data from both the
include BHP Petroleum (BHPP) production. translate these resources into delivering Cattamarra Sands and the Cadda Formations
There is also no impact on revenue as a the company’s maiden cash flows given the exploration and appraisal wells drilled
result of the change in conversion factors project has successfully navigated its primary throughout the field.
announced in the second quarter 2022 report. environmental review process. STRIKE ENERGY, July 21, 2022
The reduction in the contribution of the “The full field results have exceeded Strike’s
pre-merger Woodside assets to full-year mid case pre-drill estimates by 35%, which is Sembcorp Marine secures
2022 production guidance is solely due to the a great outcome for the project, particularly
change in conversion factors. A reconciliation at a time of heightened commodity pricing. engineering, procurement,
is provided below. “As previously highlighted, the Walyering gas
Consistent with common industry field was not captured in the forward supply construction and
practice, Woodside now applies a single modelling by the AEMO in their 2021 Gas
volumetric conversion factor when calculating Statement of Opportunities and, therefore installation contract for a
barrels of oil equivalent (boe) for gas products. Walyering’s gas supplies will be influential in
This consistent methodology applies across minimising or even avoiding any forecasted gas topsides project from
the combined portfolio reflecting Woodside’s mid-decade WA industrial gas shortage.”
increased scale and diversified product mix RISC Advisory (RISC) have estimated a major energy company in
following the merger. gross 2P gas reserves of 54 PJ (30 PJ net to
WOODSIDE ENERGY, July 22, 2022 Strike)1 and 0.55 mm barrels of associated Australia
condensate (0.30 mm barrels net to Strike),
Strike Energy – which supports the progression of the Sembcorp Marine, through its wholly owned
Walyering gas field into development and
subsidiary, Sembcorp Marine Offshore
Independent certification of construction and recognises the success Platforms (SMOP), has entered into an
engineering, procurement, construction and
of the drilling, appraisal, and development
Walyering reserves programme to date. installation (EPCI) contract with a major
energy company for a gas topsides project in
RISC has recognised growth potential in
Strike Energy is pleased to release the maiden the Walyering gas field with a further gross 2C Australia.
independently certified reserves and resources Contingent Resource of 32 PJ and 0.31 mm Work on the Topsides will be for four
report for the Walyering gas field procured for barrels of associate condensate (18 PJ and 0.17 years.
the EP447 JV (Strike operator and owner of mm barrels net to Strike) and 1 6 PJ of gas The contract is not expected to have any
55% equity interest, Talon Energy. and 0.1 6 mm barrels of condensate of gross material impact on the net tangible assets and
Strike Energy Limited Managing Director 2U Prospective Resources (9 PJ and 0.0 9 mm earnings per share of the group for the year
& CEO Stuart Nicholls said: “The booking barrels net to Strike) in undrilled or untested ending December 31, 2022.
of a gross aggregate 102 PJ gas and 1.02 mm compartments / reservoirs of the Walyering SEMBCORP MARINE, July 18, 2022
barrels of condensate at Walyering is hugely gas field’s Cattamarra Sands.
exciting for Strike and its shareholders. The RISC Reserves and Resources report
The Walyering gas field’s fast to market and is based on the drilling, coring, log, seismic

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