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Northbridge Industrial Services Plc

Perth Basin spotlight: Who’s pursuing the next big oil & gas hit?

The runaway success of Strike Energy (ASX:STX) and Warrego Energy’s (ASX:WGO) West Erregulla-2 well has placed the Perth Basin in the limelight.

It has confirmed that the target Kingia and High Cliff sandstones, which have produced gas in the nearby Waitsia field, may also be commercial elsewhere in the region.

While there remains the critical flow test to come, which will confirm without a doubt the commerciality of the discovery, West Erregulla-2 has considerably de-risked the target Kingia and High Cliff sandstones and led other companies to brush off their Perth Basin plans.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.