Strike Energy Ltd
ASX:STX
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Strike Energy Ltd
Strike Energy Ltd. engages in the exploration and development of oil and gas resources. The company is headquartered in Perth, Western Australia. The company went IPO on 2004-08-05. The firm is focused on the development of the West Erregulla conventional gas resource in the Perth Basin. The firm's exploration activities are focused on the Perth Basin, with drilling the West Erregulla-2 in EP469 and shooting 3D seismic over 90 square kilometers in Walyering (EP447). Its projects include West Erregulla Gas, Project Haber, Perth Basin Geothermal and Walyering. The firm's Perth Basin has a combination of clean, low-cost gas and geothermal energy resources that can supply baseload green energy. Its Perth Basin gas and geothermal acreage is located in Western Australia's Mid-West regions. The Waylering project is focused on the discovery of conventional gas in Cattamarra Coal Measures.
Strike Energy Ltd. engages in the exploration and development of oil and gas resources. The company is headquartered in Perth, Western Australia. The company went IPO on 2004-08-05. The firm is focused on the development of the West Erregulla conventional gas resource in the Perth Basin. The firm's exploration activities are focused on the Perth Basin, with drilling the West Erregulla-2 in EP469 and shooting 3D seismic over 90 square kilometers in Walyering (EP447). Its projects include West Erregulla Gas, Project Haber, Perth Basin Geothermal and Walyering. The firm's Perth Basin has a combination of clean, low-cost gas and geothermal energy resources that can supply baseload green energy. Its Perth Basin gas and geothermal acreage is located in Western Australia's Mid-West regions. The Waylering project is focused on the discovery of conventional gas in Cattamarra Coal Measures.
Strong Revenue: Strike delivered $18.8 million in sales revenue for Q1 FY26, with stable production from the Walyering facility.
Project Progress: The South Erregulla power plant is 56% completed and remains on track for first power by October 1, 2026.
Capacity Credits: Capacity credits increased to $31 million for the 2027–28 year, up from $20 million in the first year, reflecting tightening market demand.
Strategic Placement: The company completed an $86 million strategic placement with Carnarvon and raised an additional $1.7 million via a share purchase plan, strengthening liquidity to $140 million.
Resource Certification: Ocean Hill resources were independently certified, with 180 PJ 2C contingent and 670 PJ prospective resources identified.
Walyering Production: Walyering continues to produce at around 20–23 terajoules per day, with third-party gas purchases used to supplement supply.
Guidance Maintained: Management reaffirmed the timeline for major reports and project milestones, and gave 2026 revenue guidance for the new power plant.
