Talon Energy is a junior ASX listed oil gas explorer focused on delivering long term shareholder value through a balanced and diverse portfolio of oil and gas exploration and appraisal assets in both Australia and the UK North Sea.

In Australia, Talon has farmed into a 45% non-operated participating interest in EP447 and the Walyering Prospect, operated by Strike Energy Limited (ASX:STX) and which holds an 86Bcf (gas) and 2.18mmbo (liquids) gross best estimate prospective resource.

Additionally, the Company has an right of first refusal over EP495 (also operated by Strike) and the 360Bcf (gas) gross contingent resource discovered by the Ocean Hill-1 well.  Both Walyering and Ocean Hill tested high quality gas with less than 1% CO2 at significant rates.

Both EP447 and EP495 are ideally located for access to the Western Australian gas market and with excellent proximity to the Parmelia and Dampier to Bunbury Natural Gas Pipelines.  This proximity to both infrastructure and nearby mining companies with energy requirements, coupled with high quality gas could lead to low cost, fast paced development with strong margins.

The local gas market in Western Australia has recently seen a change in forecast demand and supply due to recently announced LNG project delays and challenges impacting forward supply.  The location of Talon’s positions in the Perth Basin sees the Company ideally placed to help meet what is a looming local gas shortage forecast in the State in the next 3 to 4 years.

Talon’s partner in the Perth Basin, Strike, has experienced significant success in recent times via its position as operator of the significant West Erregulla gas discovery made in 2019.  Strike’s excellent technical and operational capabilities make it a top-tier partner for Talon in its Perth Basin permits.


Under a farmin agreement with Strike Energy Limited (Strike), Talon is to acquire a 45% non-operated participating interest in EP447, which holds the Walyering gas appraisal prospect.  Walyering holds a gross 86Bcf (gas) and 2.18mmbo (liquids) best estimate in place prospective resource (38.7Bcf and 0.98mmbo net to Talon). Newly acquired and interpreted 3D seismic over EP447 has allowed Strike to apply its Perth Basin technical expertise to Walyering and reconcile past technical challenges with the prospect. Walyering is based on an analogous dataset and interpretation to West Erregulla-2 where similar amplitude blooms have proven to be excellent indicators of gas charged permeable reservoirs. Additionally, Walyering’s proximity to infrastructure, low CO2 and high liquids component (~25bbls/mmscf), will assist with the reduction in development and production costs and commercial viability of the project in the event of success.  Any development and production of gas at Walyering has the potential to be ideally timed to coincide with forecast contraction in gas supply in Western Australia in the next 3 to 4 years.

The North Sea is a world class hydrocarbon province, with over 50 years of oil and gas production and 43 billion barrels of oil and gas recovered, the region is underpinned by abundant and world class infrastructure, low sovereign risk, and a stable and supportive regulatory environment with attractive fiscal terms.

The North Sea area provides a diverse set of opportunities: from play-opening high-impact targets; to small, high-value, near-field opportunities; to undeveloped discoveries. This diversity accommodates a range of company strategies and allows investors in the area to build a balanced portfolio within a stable regulatory and fiscal regime.

Talon holds 4 exploration licences in the UK Central North Sea (UKCS) and the Company ascribes a gross best estimate prospective resource of 250mmboe to prospects in those licences.

Importantly, the Talon team boasts an unrivalled track record of exploration success in the UKCS and have been responsible for some of the most significant discoveries in the region in the last two decades.

Talon believes that its mix of high-quality assets, highly skilled operating partner and exploration experts with a track record of success provide it with the opportunity to build a company of significant scale and value.

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