Board Change • Jun 06
Less than half of directors are independent Following Director Shelley Robertson's arrival on 01 June 2026, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 27
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: AU$529k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$101m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$11m net loss in 2 years). Shareholders have been diluted in the past year (26% increase in shares outstanding). Significant insider selling over the past 3 months (AU$529k sold). Recent Insider Transactions • May 26
Non-Independent Non-Executive Chairman recently sold AU$529k worth of stock On the 20th of May, John Poynton sold around 4m shares on-market at roughly AU$0.12 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. Recent Insider Transactions • May 20
Key Executive recently bought AU$100k worth of stock On the 14th of May, Neville Power bought around 769k shares on-market at roughly AU$0.13 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Neville's only on-market trade for the last 12 months. Buy Or Sell Opportunity • May 14
Now 23% undervalued Over the last 90 days, the stock has risen 34% to AU$0.13. The fair value is estimated to be AU$0.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 82% over the last 3 years. Earnings per share has declined by 94%. Revenue is forecast to grow by 53% in 2 years. Earnings are forecast to grow by 93% in the next 2 years. Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Sep 16
Strike Energy Limited, Annual General Meeting, Nov 13, 2025 Strike Energy Limited, Annual General Meeting, Nov 13, 2025. Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 25
Strike Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 51.61889 million. Strike Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 51.61889 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 430,157,416
Price\Range: AUD 0.12
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jan 29
Strike Energy Limited to Report Q2, 2025 Results on Jan 31, 2025 Strike Energy Limited announced that they will report Q2, 2025 results on Jan 31, 2025 Board Change • Dec 24
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Jill Hoffmann was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Sep 26
Strike Energy Limited, Annual General Meeting, Nov 28, 2024 Strike Energy Limited, Annual General Meeting, Nov 28, 2024. Tillkännagivande • Jun 13
New Zealand Oil & Gas Limited, Triangle Energy (Global) Limited and Strike Energy Limited Provides Drilling Update Booth Well in L7 Permit Perth Basin Triangle Energy Global Ltd. advised that preparatory works by the L7 Joint Venture with Strike Energy Ltd. and New Zealand Oil and Gas Ltd. to drill the Booth-1 well in the North Perth Basin are nearing completion and all regulatory approvals have been received. The Company now expects the Ventia 106 rig to be released by the current drilling operator in early July with the spud of the Booth-1 well expected to occur mid to late July. The Booth prospect, located in the east of L7, is planned to be the first well in the upcoming drilling campaign, targeting gas at the Kingia-High Cliff reservoirs with potential for oil or gas in the overlying Dongara and Cattamarra Coal Measures sandstones. Negotiations are ongoing for a rig to drill the Becos Prospect in permit EP 437. The Booth prospect has potential for multiple oil and gas targets, with a Prospective Resource range of 113 Bcf (billion cubic feet of gas) to 540 Bcf with a Best Estimate of 279 Bcf (Gross 100%, on-block), has a prognosed total depth of 2,900m (measured depth) and is expected to take 22 days to drill from spud. The well will deviate 800m to the southeast from the surface location to intersect three prospective reservoirs that are offset in depth and will have a true vertical depth of 2,670m. A new water supply well has been drilled which will subsequently be given to the landowner. Recent Insider Transactions • May 23
Independent Non-Executive Director recently bought AU$53k worth of stock On the 20th of May, Jillian Hoffmann bought around 250k shares on-market at roughly AU$0.21 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$1.7m more in shares than they bought in the last 12 months. Tillkännagivande • Apr 18
Triangle Energy Global Ltd and New Zealand Oil and Gas Ltd. Commence Drilling of the Booth-1 Well in the North Perth Basin New Zealand Oil & Gas Limited announced that its Joint Venture with Strike Energy Ltd. and New Zealand Oil and Gas Ltd. has contracted a rig to drill the Booth-1 well in the North Perth Basin. The Booth prospect, located in the east of L7, is planned to be the first well in the upcoming Joint Venture's drilling campaign, targeting gas at the Kingia-High Cliff reservoirs with potential for oil or gas in the overlying Dongara and Jurassic sandstones. The previously identified Becos oil prospect in EP 437 is intended to be the second well in the program, targeting the Bookara sandstone. Triangle expects to drill Becos in the September quarter 2024, subject to EP approval and final JV approval. Becos has a Prospective Resource range of 1 MMbbl (million barrels) to 21 MMbbl with a mid-case of 5 MMbbl oil (Gross 100%). The first two wells are expected to be drilled utilising separate rigs. The Booth prospect, with a total depth of 2,900m, requires a medium to large rig such as the Ventia 106 and the Becos prospect, with a prognosed depth of just over 1,000m, is more suited to a smaller, more mobile rig. This is an untested play underlying potential Jurassic to Permian oil-prone sandstone reservoirs in this area near Mount Horner Oil Field. Triangle Managing Director Conrad Todd said: "Booth will be the first well drilled in the two permits in the Perth Basin for 30 years. During this time, 3D seismic has been developed, which has played a pivotal role in some of the major discoveries in the Perth Basin in recent years. Triangle and JV partners have utilised new 3D seismic to locate and plan these wells and are excited to drill the first of many prospects within these permits. "This latest 3D data interpretation and geological analysis has led to numerous new oil and gas prospects being identified, further highlighting the immense potential in what is the most under-explored acreage in the lucrative Perth Basin". Authorised for Release by: The Board of Directors. These estimates have both an associated risk of discovery and a risk to development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. The estimates of Prospective Resources included in the announcement have been prepared in accordance with the definitions and guidelines set out in the Petroleum Resources Management System ("PRMS") as revised in June 2018 by the Society of Petroleum Engeers. The PRMS defines prospective resources as those quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations. All Prospective Resources indicated within the updated L7, and EP 437 resources tables are calculated for a Gross 100% interest in the Permit and tabulated as Gross (100%) and Net (50%) interests. These prospects were mapped using the Bookara 3D seismic data which has been recently acquired and interpreted. TEG has applied a range of reservoir parameters based on regional well-owned and interpreted. Triangle has applied a range of reservoir metrics based on regional well-owned, and EP 437, which also hosts the Becos prospect, to be the first well in the North Perth Basin. Recent Insider Transactions • Apr 12
Non-Executive Director recently sold AU$284k worth of stock On the 11th of April, Andrew Seaton sold around 1m shares on-market at roughly AU$0.24 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$1.7m more than they bought in the last 12 months. Recent Insider Transactions • Feb 15
Non-Independent Non-Executive Chairman recently bought AU$76k worth of stock On the 13th of February, John Poynton bought around 250k shares on-market at roughly AU$0.30 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. New Risk • Feb 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$80m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$80m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Significant insider selling over the past 3 months (AU$1.0m sold). Tillkännagivande • Jan 26
Strike Energy Limited to Report Q2, 2024 Results on Jan 29, 2024 Strike Energy Limited announced that they will report Q2, 2024 results on Jan 29, 2024 Tillkännagivande • Dec 04
Strike Energy Limited Confirms Continuity of South Erregulla Gas Field Strike Energy Limited provide an update on the appraisal results from the SE3 well at the Company's 100% owned South Erregulla gas field which sits within Production License L24 (surface location: 6735995.41 N, 334750.14 E). The SE3 well encountered the Kingia Sandstone at 4,817m measured depth (MD) where a gross interval of 54m was observed. Mud logs, logging while drilling and wireline logging tools were used to evaluate the Kingia Sandstone where cuttings have been collected. The net pay in the Kingia is made up of two blocks of reservoir totalling 13m with an average porosity of 10.2% and porosities up to 16.4%. Evaluation of the Kingia has used cutoffs consistent with Strike's other successful Kingia wells across the Erregulla region in the North Perth Basin. Pressure and mobility data have been collected, where reservoir pressures measured approximately 6,746 psia. Strike will now run, set and cement the 7" liner before installing the 5-1/2" production tubing string along with the well head and christmas tree. SE2 and 3 will be flow tested in a campaign expected to commence in late January 2024. The SE3 well was observed as being downdip of the SE1 discovery well and confirms the presence of gas filled conventional reservoir in the Kingia to the northwest of the field. This data, along with the SE2 results, will form the basis for an independent review and potential conversion of Contingent Resources in L24 to Reserves. Wireline logging over the Jurassic Sandstone in SE3, appraising the potential CO2 storage capacity, observed a high quality 75m net reservoir, with an average porosity of 19% and a maximum porosity of 29%. This supports the continuity of the potential storage reservoir to the northwest of SE1. This announcement is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company's Continuous Disclosure Policy. Tillkännagivande • Nov 08
Strike Energy Reportedly Out of Race for Oil, Gas Assets The $1 billion West Australian gas producer Strike Energy Limited (ASX:STX) is understood have pulled out of the race to buy Woodside Energy Group Ltd. (ASX:WDS)'s $500 million ($768 million)-plus Pyrenees and Macedon oil and gas projects. The sale process is proving to be slow moving for the suitors that remain in the race, with some questioning whether it will drag out into the new year. It is understood Strike was keen to buy the Macedon project but was not in a position to also take on Pyrenees. The sale process is being run by Morgan Stanley. Woodside inherited the two gas facilities in WA's Carnarvon Basin through its acquisition of BHP's petroleum business last year. First-round bids were received last month, but the offers were not conforming bids, with most suitors only vying for the more popular Macedon asset. DataRoom understands that parties that have been in the data room are The Carlyle Group Inc. (NasdaqGS:CG), Cooper Energy Limited (ASX:COE), the Chris Ellison-backed Mineral Resources Limited (ASX:MIN), billionaire Gina Rinehart's Hancock Prospecting Pty Ltd, Carnarvon Energy Limited (ASX:CVN), Strike Energy Limited (ASX:STX), Jadestone Energy plc (AIM:JSE) and Questus Energy LLC. Beach Energy was not thought to have put forward a bid because it currently has an Interim Chief Executive running the company, Bruce Clement. Sources believe that Beach, which is 30% controlled by the interests of billionaire Kerry Stokes and now chaired by his son Ryan on an interim basis, is the logical candidate to buy the assets. Recent Insider Transactions • Oct 12
MD, CEO & Executive Director recently sold AU$552k worth of stock On the 9th of October, Stuart Nicholls sold around 1m shares on-market at roughly AU$0.42 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Stuart's only on-market trade for the last 12 months. Tillkännagivande • Sep 28
Strike Energy Limited, Annual General Meeting, Nov 23, 2023 Strike Energy Limited, Annual General Meeting, Nov 23, 2023. New Risk • Jul 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$89m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$89m free cash flow). Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). Board Change • May 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 10
Strike Energy Limited Provides Update on Eneabba Deep Strike Energy Limited provided an update on its operations at the 100% owned and operated permit EP506 - Eneabba Deep as part of its previously announced Gas Acceleration Strategy. Strike has received all regulatory approvals required to commence the 128 km of 2D seismic for the Eneabba Deep campaign. Terrex Seismic has mobilised and Strike expects acquisition to commence in the next 7-10 days and take 3-weeks. Strike is likely to receive a processed volume of the seismic in approximately 6-weeks post-acquisition and upon interpretation, Strike may identify a well location for exploration drilling as part of its `opportunity reloading' post the successful West and South Erregulla and Walyering drilling campaigns. successful West and South Erregulla and Walye With its proximity to the 100% owned Ocean Hill gas discovery, and subject to successful exploration drilling, Eneabba Deep represents an opportunity for inclusion in a regional development or alternatively to feed the immediately adjacent industrial demand where Iluka is currently constructing a rare earth refinery. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Mary Hackett was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 10
Key Executive recently bought AU$1.2m worth of stock On the 8th of March, Neville Power bought around 4m shares on-market at roughly AU$0.30 per share. This was the largest purchase by an insider in the last 3 months. This was Neville's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 13
Independent Non-Executive Director recently bought AU$50k worth of stock On the 11th of November, Mary Hackett bought around 294k shares on-market at roughly AU$0.17 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$472k more in shares than they have sold in the last 12 months. Tillkännagivande • Sep 08
Strike Energy Limited Provides an Update on Its 100% Owned Zero Carbon Mid-West Geothermal Power Project in WA's Perth Basin Strike Energy Limited provided an update on its 100% owned zero carbon Mid-West Geothermal Power Project in WA's Perth Basin. Heat Needle Survey: As part of its agreed work program with the regulator, Strike deployed 12 heat needles for 5 months across Strike's geothermal acreage in
the Perth Basin to map surface thermal gradients. These heat needles have been retrieved and the data recovered is currently being processed by Dr Graeme Beardsmore at Hot Dry Rocks Ltd. On completion of this activity the data will be integrated into Strike's Kingia Sandstone reservoir model, which is well developed and includes all of the most recent penetrations of the Kingia Sandstones as they are also the host reservoirs of Strike's
substantial natural gas resources. Subsurface & Inferred Resource: Following the award of the Exploration Incentive Scheme for co-funded energy analysis, Strike has commenced 3D seismic inversion modelling with leading geophysics consultancy, Delft Inversion to generate subsurface information for the mapping of water-wet and permeable sandstones throughout the Kingia in the North Perth Basin. As seen throughout the basin, amplitude anomalies at the Kingia level have been strongly correlated with major gas discoveries indicating the anomaly is consistent with the quantitative
interpretation of gas-prone porous sandstones. To date, water-wet porous sandstones have not been observed to generate any obvious geophysical signature, as evidenced by the Irwin-1 well drilled by Origin Energy between the Waitsia and West Erregulla gas fields that contained 39m of water wet conventional quality reservoir with average porosities of 10% and up to 17.6%. Processing the seismic volumes into a version that can inform the inverse for gas and water only (and not for porosity) will be a step change in the speed and accuracy of mapping the geothermal potential of the Kingia Sandstone. Strike has focussed this inversion modelling in areas where good resolution 3D seismic is currently available. The remapped and inverted data will be integrated into Strike's basin wide sub-surface model to form the basis of an independent Inferred Resource and associated power assessment. This Inferred Resource booking is expected to be finalized in the next quarter and will support the progression of an Indicated Resource in CY22. During the West Erregulla appraisal campaign Strike re-confirmed the presence and ability to produce very hot brine from the Kingia Sandstones.
West Erregulla 4 produced approximately 10% brine along with its dominant gas stream. The fluid produced was sufficient in quantity to generate well head temperatures of more than 115°C, which is some 30°C higher than the well head temperatures measured from the 100% gas stream at the WE2 flow test. Conversion of Permit: With the completion of the heat needle survey, Strike has the right to apply for a Geothermal Exploration Permit (GEP) over up to 50% of the 3,500 km Geothermal Special Prospecting Authority (GSPA) area, equating to up to 1,750 km². Strike will use its basin modelling and once booked, Inferred Resource in order to identify and select the highest quality areas that best support the subsurface conditions required to generate the most electrical power and in turn the preferred GEP area. Strike intends to make application for the GEP during fourth quarter 2021 and, upon grant, will be in a position to consider future commercial opportunities for potential partners to participate in the proposed testing and development. Commercialization: Strike is currently engaged with a range of experienced potential collaborators to progress the overall project concept selection. This includes both international and local expertise regarding subsurface, drilling, surface power generation, technical and project engineering, regulatory approvals, network service providers, and electricity off-takers. Strike is very encouraged by the market engagement to date. Strike is particularly excited by the contribution that geothermal power can make to not only the State's decarbonization agenda and zero carbon electricity supply via transmission through the co-located South West Interconnected System (SWIS), but also to the aspiring hydrogen economy of the Mid-West, which has strong support from the State Government under the Oakajee Strategic Industrial Area project. Tillkännagivande • Aug 16
Greenflame Energy Pty Ltd entered into a binding share sale and purchase agreement to acquire Strike Energy 96 Pty Ltd from Strike Energy Limited (ASX:STX). Greenflame Energy Pty Ltd entered into a binding share sale and purchase agreement to acquire Strike Energy 96 Pty Ltd from Strike Energy Limited (ASX:STX) on August 16, 2021. Strike Energy 96 Pty Ltd holds interest in Cooper Basin permit PEL96. The transaction is conditional on obtaining all necessary third-party consents and approvals and on sale of these interests Strike does not expect to register any loss after fully impairing the assets in June 2020. Tillkännagivande • Aug 06
Strike Energy Limited Closes the Second Round of Its Urea Offtake Process for Project Haber's Proposed Urea Production Strike Energy Limited advised that it has closed the second round of its urea offtake process for Project Haber's proposed urea production. 4.75 mtpa of firm proposals with attractive pricing formulas were received for Project Haber's planned annual production of 1.4 mtpa of urea. The offers received were for up to 15 years in length which can support future bankability of the proposed development. Strike has subsequently short-listed parties to proceed to negotiate binding agreements and will look to conclude those negotiations over the coming quarter. Once binding offtake agreements are in place, Strike will then move to market and sell down the equity in the project and has appointed Azure Capital to support this process. Strike's Board of Directors will meet in the September quarter to review the pre-FEED outcomes from Technip Energies and Haldor Topsoe and will look to make recommendations on the ownership and operating structure for the proposed fertiliser development. These recommendations in conjunction with the latest capital estimate from the pre-FEED will be critical for informing the equity sell down process and subsequent debt sizing and structuring programs where Azure Capital will be supported in debt advisory by Natixis and ANZ. Strike will continue to update its shareholders as further critical developments and milestones are reached at Project Haber. Tillkännagivande • Jul 15
Strike Energy Limited Provides South Erregulla Update Strike Energy Limited provided an update on its wholly owned and operated South Erregulla Project in Exploration Permits 503 and 505 in the North Perth Basin. The Maior 2D seismic campaign, which is designed to define the final well location for South Erregulla-1 (SE-1) due to be drilled in October this year, has commenced. Terrex Seismic has mobilized and begun surveying the various lines. The campaign will capture 140km of new, modern 2D data. The survey lines have been located on various existing roads, firebreaks, clearings and gaps in paddocks within the region. This method of line choice was chosen to minimise landholder impact, accelerate approvals and allow for data generation in time for the earliest possible spud of SE1. With the permits only granted in January, Strike is continuing to demonstrate its ability to take projects forward in a very timely manner. The 2D campaign will be followed up by the proposed Minjiny 3D seismic survey post a successful SE1 well, and if land access and approvals are granted for a post-harvest acquisition. The West Erregulla appraisal campaign has continued to produce strong results and supports the regional Permian gas fairway play extension to the South and into the Dandaragan Trough. The parties to the West Erregulla joint venture currently have varying interpretations of the gas water contact in the field, however, positively, even if the most conservative viewpoint were to be adopted, the South Erregulla structure is interpreted to lie above the contact and in communication, and on that basis is likely to be co-charged with West Erregulla. Tillkännagivande • Jul 14
Strike Energy Limited Completes Production Testing At the West Erregulla 4 Well Strike Energy Limited advised that it has completed production testing at the West Erregulla 4 well. A series of flow tests were performed at various choke settings to enable characterisation of the well deliverability parameters. Production testing was performed over a 75-metre perforated interval in the Kingia Sandstone, with the top interval at 4,847 metres to the bottom section of 4,962 metres measured depth. The primary flow period was conducted over a 46-hour period at a rate of 35 mmscfd through a 76/64" choke, with approximately 1,770 psig flowing tube head pressure. Flow rates and pressures were stable throughout the extended flow period with no evidence of depletion from the test. Gas sample analysis indicates WE4 has a similar gas composition to the WE2 well, with WE4 also producing a small amount of regionally anomalous low salinity water whilst on test. This water declined from approximately 50 to 37 bbls/mmscf during the main flow test period and was continuing to decline prior to the shut in of the well. Based on detailed probability analysis of all the regional and West Erregulla field data to hand, it is interpreted that this water is being produced from a localised perched water lens at the base of the porous section of the Kingia. Strike expects to be in a position to confirm this on flow testing of the WE5 well, which is planned to commence later in July. The production testing at WE4 demonstrates similar productivity characteristics consistent with the regional Permian gas fairway wells from Waitsia and Beharra and supports the progression of the Phase 1 development. Strike's Joint Venture Partner has conducted their own analysis and made their own assumptions on the results at WE4; however, Strike remains confident on its interpretation based on the probabilities of the potential outcomes from the data observed. Under either interpretation, WE4 will be retained as a primary future producer under the Phase 1 development plan. Tillkännagivande • Jul 07
Strike Energy Limited Provides an Update on Domestic Gas Business in the Perth Basin Strike Energy Limited provided an update on its domestic gas business in the Perth Basin, which is set up for a potential series of transformational results. The South Erregulla-1 well is set to spud in October 2021 using one of the three Ensign 970 rig slots that Strike procured on favourable terms during the industry downturn in mid- 2020. South Erregulla represents potentially significant near-term multi-TCF upside for Strike and has been materially de-risked through the West Erregulla exploration and appraisal campaign. Strike has submitted and received approval for several of the permits required to commence drilling operations and has procured the ong lead items (casing, well head, hangers and other jewellery). Through the learnings at West Erregulla, the SE-1 well will target a sub-45 day completion timeline with a new optimised design that can facilitate high quality data acquisition. On success at SE-1, Strike will both reserve dedicated resources for its Project Haber fertiliser feedstock and market and sell gas from the field into Western Australia's growing domestic gas market. The construction of APA's new Midwest gas pipeline infrastructure, the Northern Goldfields Interconnect (NGI), will continue to open up new opportunities for domestic gas market sales to the booming Northern Goldfields region. Recently, Strike entered into a non-binding Memorandum of Understanding (MOU) with a Goldfields downstream project developer for a future gas supply agreement (GSA). The gas will supply a greenfield mineral processing and production facility and be transported via APA's NGI. Strike and the gas buyer have aligned on indicative key terms of 15-20 TJ/d for 5 years starting in 2024 and will work towards a binding term sheet before the end of 2021. In addition to the GSA, the parties are collaborating on other emissions reduction activities, including coal to gas conversion and where possible renewable energy opportunities. During July, and only 6 months after being granted the South Erregulla permit (EP503), Strike will acquire the `Maior 2D seismic survey'. This vindicates Strike's seismic strategy of new data sooner by focussing seismic acquisition over roads, cleared area and gaps in paddocks. This translates into not needing to wait for `post- harvest' seasons before being able to secure additional subsurface information that can support new well locations. The Maior 2D seismic survey will also provide valuable information over the Permian Sandstones in the Dandaragan Trough off the South Erregulla structure. The trough has the potential to host geothermal resources where Strike owns 100% of the over-lapping rights across the Basin. These over-lapping rights support the complementary development of critical subsurface information and potentially (where conventional quality Kingia reservoir is encountered) commercial outcomes for all well penetrations. Strike and Energy Resources Limited have agreed terms for the sharing of the Ensign Rig 970 during the second half of CY21. The rig will move to Lockyer Deep-1 during the remainder of July and August before coming back to Strike to drill Walyering-5, South Erregulla-1 and with a follow- on appraisal well or third opportunity that is currently being worked. Strike is preparing to spud the Walyering-5 appraisal well in September of this year. All major agreements and permits are now in place to facilitate the drilling operations, all long lead items have been purchased and the rig has been booked. Walyering is an excellent test-case for the geotechnical work Strike has carried out across the Jurassic Wet Gas Play in the Cattamarra sequence. Should the appraisal drilling prove up a commercial development, then Strike expects this will be a catalyst for a material uplift in valuation of its 1,853 km² acreage position across the play, which includes the large Ocean Hill structure where a significant contingent resource has been booked. The WA Department of Mines, Industry Regulation and Safety (DMIRS) has granted Strike exploration permit EP506, which it won in a bid round during the WA 2020 acreage release. The L20-3 block is located at the southern edge of the prolific Perth Basin Permian Gas Fairway. Strike has already mapped a future prospect in EP506 named "Eneabba Deep". The target has significant potential for stacked, Permian-aged reservoirs hosted in structural closure. This is analogous to the structural trapping mechanism in place in the Beharra Springs area. Strike mapping indicates that the prospective fairway for thickened Permian reservoir sands, with porosity preservation at depth caused by syndepositional clay coatings on sand grains, could extend as far South as the Cadda terrace in EP506. Tillkännagivande • Jun 17
Strike Energy Limited Provides an Update on the West Erregulla 5 Well Strike Energy Limited provides an update on the West Erregulla 5 well on behalf of the EP469 Joint Venture. Current Operations: Since the last update, Strike has continued drilling operations with WE5 currently drilling ahead at a measured depth of 4,895m, having passed through the primary reservoir in the Kingia Sandstone which was encountered at 4,771m. The Kingia was observed to be high- quality with significant gas shows, high background gas and associated drilling breaks. The LWD data corroborates the drilling observations and final resource and reservoir characteristics will be collected via wireline logging at completion of the drilling. Additional equipment has arrived at West Erregulla and WE4 is being rigged up with the new sand handlers and will recommence its clean-up before starting flow testing operations. Forward Plan: Strike will complete drilling operations at WE5, including drilling through the secondary target of the High Cliff Sandstone. Post drilling operations, Strike will commence the detailed wireline logging campaign collecting an array of resource and reservoir data. At the completion of the wireline campaign, Strike will run and cement the final casing string in place, before completing the well as a future producer and commencing its flow testing. Recent Insider Transactions • Jun 05
Independent Non-Executive Director recently bought AU$100k worth of stock On the 1st of June, Mary Hackett bought around 307k shares on-market at roughly AU$0.32 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$402k more in shares than they have sold in the last 12 months. Tillkännagivande • May 17
Strike Energy Limited Updates on the West Erregulla Appraisal Campaign on Behalf of the EP469 Joint Venture Strike Energy Limited provided an update on the West Erregulla Appraisal Campaign on behalf of the EP469 Joint Venture. WE5 has landed and cemented the surface casing string and is now drilling ahead at a depth of ~2,785m measured depth (MD). At WE4, Strike continues the production testing of the well where the well is in the clean-up phase and pressure conditions similar to WE2 have been encountered on initial flows. The high reservoir quality seen at WE4 has been confirmed by core results from the laboratory, which show permeability up to 430mD (unconfined) and porosity of up to 19.9% in the Kingia Sandstones. The extended flowing of WE4 will build further data in preparation for potential production operations at the West Erregulla Phase 1 development. Strike will continue the flow test program at WE4 until the well is sufficiently cleaned up and then Strike will perform a full production test. It is estimated it will take several more days of clean-up and stabilised flowing before this can be achieved. At WE5 Strike will continue to drill the 12-1/4" intermediate hole section down to a nominal depth of ~3,750mMD, at which time wireline logs will be acquired. This will then be followed by running of casing and cementing in place. The campaign comprises three appraisal wells drilled in the West Erregulla field, which is located in EP469. The appraisal wells are planned to be drilled down to ~5,000m. West Erregulla 4 and 5 will appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia /High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will also be appraised during West Erregulla 4 & 5. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E. West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E. West Erregulla 5: 29° 24' 1.72" S, 115° 18' 27.17" E. Tillkännagivande • May 07
Strike Energy Limited Provides Update on Its Proposed Urea Development, Project Haber Based in Geraldton, W.A Strike Energy Limited provided an update on its proposed urea development, Project Haber based in Geraldton, W.A. Australia currently imports more than 95% of the urea it consumes for agricultural uses every year. This urea comes from various global sources, predominantly Saudi Arabia, Qatar, and China. This urea is produced using older ammonia and urea technologies and poor-quality energy feedstocks such as high impurity gas or in China's case, coal via gasification. The net result of Australia's reliance on these imports is a high carbon intensive product where Australian consumers have little control over the carbon footprint of the resultant commodity. This high carbon intensity is only further exacerbated by the long international supply chains and shipping distances that accompany the imports. Through the use of modern ammonia and gas processing technology, high quality nearby conventional gas, domestic supply chains and dedicated green hydrogen inputs, Project Haber has the potential to deliver significant carbon reduction to Australia's urea consumption. The net result of the commencement of Project Haber operations is, based on feasibility and pre-FEED studies completed by TechnipFMC, expected to result in the abatement of between 650,000 and 795,000 tonnes of CO2e per year. This is a 50% to 60% reduction in the carbon footprint of Australian urea fertilisers based lined against 2019, and would equate to some 16 million tonnes of CO2e over the first 20 years of the project life. This relatively low level of carbon intensity would position Australia in the top quartile of global regions with respect to carbon performance in the manufacturing of urea fertiliser. Below is a visualisation which shows the current CO2e production associated with the international supplies of Australia's imported urea consumption (0.93 t of CO2e per urea tonne). This visualisation then steps down through the key advantages of Project Haber to show that the Project has the potential to produce urea with a complete carbon footprint of 0.46t of CO2e per urea tonne. This excellent carbon performance can be further improved over time via the use of additional green hydrogen, which could be sourced from either Strike's proposed integrated renewable geothermal energy 1 or from the various green hydrogen projects positioned throughout the immediate Mid-West region. Strike commissioned leading economic advisory firm ACIL Allen to compose an Economic Impact Assessment of Project Haber. The results detailed a very compelling narrative and overview of the significant economic benefits that could be realised from the development of Project Haber in terms of its contribution to the Mid-West, Western Australian and the national economy. Project Haber's economic impact on the Mid-West region was estimated to be larger than the impact of a major LNG project across the whole of Western Australia. ACIL Allen estimates Project Haber will provide an $8.4 billion boost to Australia's economy during construction and over the operational life of the Project, with an average increase in GDP of $246 million per annum between 2022 and 2056. Project Haber is also estimated to drive significant benefits to the Mid-West region economy, with 94% of the boost to Australia's GDP within the region. The remaining benefits of the Project accrue to the rest of Australia as result of the increased income and taxation payments on economic activity. Once operational, Project Haber will be a major industry for the Mid-West region, with Gross Regional Product (GRP) estimated by ACIL Allen to grow by $230 million per annum. To put this into perspective, the increase in GRP is equivalent to a 3.8% boost to the Mid-West region's economy every year. ACIL Allen estimates Project Haber will generate $10.3 billion of real income benefits across Australia, or $303 million per annum between 2022-56. The significant real income gains (over and above the real output impacts) reflect the economic benefits from the import substitution effects, as less intermediate industry supply (i.e. fertiliser purchases by the agriculture industry) flows offshore. ACIL Allen estimates Project Haber will support approximately 1,135 full time equivalent (FTE) jobs per annum during the construction phase across Western Australia, with a peak workforce of 1,573 FTE jobs in 2024-25. Once operational, ACIL Allen estimates an average of 274 FTE jobs will be supported in the Mid-West region every year and with the strong desire for a local operational workforce to service the Project, Project Haber has the potential to draw in up to an additional 712 residents into the Mid-West region. Project Haber is expected to generate significant taxation benefits to the Commonwealth and State Governments over the project life. The tax payments resulting from the Project are likely to accrue to the Commonwealth Government are estimated by ACIL Allen to be $144 million in Commonwealth taxes per annum between 2022-56. Tillkännagivande • May 01
Strike Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Strike Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,666,667
Price\Range: AUD 0.3 Tillkännagivande • Apr 28
Strike Energy Limited Provides an Update on Its High Value Near Field Exploration Targets in the Greater Erregulla Region Strike Energy Limited provided an update on its high value near field exploration targets in the Greater Erregulla region. Exploration Incentive Scheme (EIS) Grant: Strike has been awarded an EIS grant of $200,000 (maximum available) to contribute towards the drilling of South Erregulla-1. This grant is both endorsement for Strike's technical work and the State's support in seeing these resources commercialised as quickly as possible. The South Erregulla-1 well is being prepared for a Q4/21 spud. Permit Award: The WA Department of Mines, Industry Regulation and Safety (DMIRS) has granted Strike exploration permit EP505. This is due to the conversion of EPA98 and resulting from endorsement from the various stakeholders with infrastructure inside the permit boundaries (gas pipeline) and the conclusion of the Geraldton Alternate Settlement Agreement and the corresponding Indigenous Land Use Agreement (ILUA). The grant of this permit by DMIRS allows for the progression of data acquisition over Strike's current opportunity in South Erregulla, starting with the `Maior 2D seismic survey' which is set to be shot in the mid part of 2021. Permian Gas Fairway Sustained Success: To date, all 15 penetrations of the Kingia Sandstone in and around the Dandaragan Trough, including all 9 deep penetrations (Kingia deeper than 3,000m subsea) have encountered commercial grade conventional reservoir development. This includes the 3 deepest penetrations (West Erregulla-2 and West Erregulla-4, as well as Beharra Springs Deep-1). Of these 9 deep wells, 8 have been the foundation for major conventional gas discoveries and tested gas charged and highly porous Kingia Sandstones (the only outlier being Irwin-1 which displayed nogeophysical signature of gas charge, but did find high quality, thick, permeable water wet Kingia). Post 2018, well results have been incorporated into revised isopach maps of the Upper Kingia Sandstone and, even in the most conservative scenario, indicates high confidence in extension of the reservoir fairway to the south and south-east. A regionally active, prolific source rock in the Carynginia and Irwin River Coal Measures are also consistently demonstrated by these wells. Two large kitchen zones adjacent to the Greater Erregulla structure (the Donkey Creek Terrace to the west and the deepest parts of the Dandaragan Trough to the east) are located optimally for consistent charge into axial closures along the fairway during hydrocarbon generation. The presence of effective dual top seal in (a) the Carynginia Shale and (b) the Kockatea Shale is demonstrated by ubiquitous presence of gas shows in the Dongara and Wagina sandstones in wells drilled in the deep parts of the basin, as well as by the presence of an over-pressured regional basin-centred gas accumulation in the Basal Wagina sandstones and by gas shows in the Carynginia Shale and Irwin River Coal Measures. This sustained track record in the Early Permian Gas Fairway supports Strike's methodology and lends continued confidence in testing the extent of this fairway to the south with the drill bit. South Erregulla Update: Results from the West Erregulla appraisal campaign have been applied to the South Erregulla prospect, resulting in an increase in the assessed probability of success (POS) to 61%. This is partly driven by increased confidence in the presence of commercial reservoir at the Kingia level and partly driven by the confirmation of a thick hydrocarbon column and deep gas-water-contact (GWC) in West Erregulla. The deep West Erregulla GWC shows that the field is "filled to spill". This GWC also notably lies well below the structural saddle connecting the West Erregulla and South Erregulla structures. By inference, West Erregulla and South Erregulla are co-charged, and based on existing seismic control, it is unlikely that one could be gas saturated and the other not. Trap shape and size are the remaining risks given the current 2D seismic control. The possibility exists that unimaged faults may compartmentalise the larger field into smaller blocks. However, by analogy with the structural and seismo-stratigraphic characteristics seen in the Trieste and West Erregulla 3D seismic surveys bounding the South Erregulla prospect to south and north respectively, Strike remains confident as to the positive potential outcome of the South Erregulla-1 well, and the current well supported interpretation. Tillkännagivande • Mar 19
Strike Energy Limited Provides an Update on the West Erregulla 4 Well on Behalf of the EP469 Joint Venture Strike Energy Limited provided an update on the West Erregulla 4 well on behalf of the EP469 Joint Venture. Current Operations: Since the last update, Strike has set and cemented the 9-5/8" casing and drilled through the Dongara and Upper Wagina. The well is currently in the Basal Wagina sandstones at 4,248m measured depth. After recording positive LWD results the decision was made to pull the bottom hole assembly out for a drill bit change and run advanced wireline logging to confirm the initial LWD results. Dongara & Wagina Sandstones: As prognosed, the LWD results indicate a large bimodal gas column in thick, blocky sand units where high porosity streaks are interbedded within a thick section of gas bearing sandstones.
The LWD data indicates 35-40m of conventional net pay is present across a gross interval of 206m at an average porosity of 6%. These preliminary results are comparable to those seen in the equivalent reservoirs at WE2 and WE3. Wireline logging and testing will now take place and in order to confirm the materiality of these reservoirs. Despite penetrating the Dongara/Wagina section approximately 35m downdip of WE2, no indications of a water leg have been seen. At the time of deciding to pull the bottom hole assembly to surface WE4 was approximately midway through the basal Wagina and was still in gas bearing sands. These initially interpreted pay zones correlate to strong gas shows seen in the well and are similar to other conventional Dongara and Wagina discoveries which have been made across the northern Perth Basin. West Erregulla Appraisal Campaign: Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m. West Erregulla 4 (and 5) will appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia /High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will also be appraised during West Erregulla 4 & 5. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E. West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E. West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E. Tillkännagivande • Mar 15
Strike Wins Highly Prospective Perth Basin Block Strike Energy Limited announce that it has been selected as the successful bidder for Perth Basin block L20-3 at the end of the WA Petroleum Acreage Release 1 of 2020. The L20-3 block is located at the southern edge of the prolific Perth Basin Permian Gas Fairway, which has yielded more than 3 TCF of discoveries to date (including Strike's West Erregulla gas discovery). The block is flanked by gas discoveries, with the Permian Beharra Springs complex and West Erregulla fields to the North, the Permian Woodada field to the West and the Ocean Hill Jurassic wet gas discovery to the East. The block is perfectly situated from an infrastructure perspective, with both the Parmelia Gas Pipeline and the Dampier to Bunbury Natural Gas Pipeline, running adjacent to either side of the block. On success this pipeline optionality may deliver discoveries even faster to market and enable further cost
reductions in what is regionally already understood as a low-cost development. In the South West of the block, industrial gas user Illuka operates its Eneabba mineral sands and rare earths mine, which may provide a nearby energy customer for any successful discovery. The permit sits within the area of land that was the centre of the Yamatji Nation Indigenous Land Use Agreement, and as such will be progressed straight to exploration permit award without the need to secure a Native Title Agreement over the area. Tillkännagivande • Mar 05
Strike Energy Limited Provides an Update on Behalf of the EP469 Joint Venture Strike Energy Limited provided an update on behalf of the EP469 Joint Venture. Since the last update, Strike has drilled the second intermediate hole section in 12-1/4" down to a final section depth of 3,906m into the Kockatea Shale. During the drilling of this section hydrocarbon shows have been observed throughout and as a result, wireline logs will be run through the section. The presence of these hydrocarbons is supportive of Strike's geological models and the results are analogous to observations seen in the West Erregulla 2 well. After completion of wireline logging operations, Strike will commence running of 9-5/8" casing before cementing in place and drilling ahead to the well's secondary (Basal Wagina Sandstones) and primary targets (Kingia & High Cliff Sandstones). The bottom hole assembly for this section will include several logging while drilling tools for live data acquisition with real time feedback. Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to 5,000m. West Erregulla 4 (and 5) will appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia /High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will also be appraised during West Erregulla 4 & 5. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E. West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E. West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E. Strike Energy Limited operator and the holder of a 50% joint venture interest in EP469, and Warrego Energy a holder of the other 50% joint venture interest. Tillkännagivande • Feb 22
Strike Energy Limited Announces Executive Changes Strike Energy Limited announced the appointment of Mr. Kevin Craig to the role of Chief Operating Officer. Mr. Craig will replace the company's current Chief Operating Officer Mr. Pax Barkla, who will be departing Strike as it transitions its head office from Adelaide to Perth. Mr. Craig brings 30 years of experience from the energy industry, having held senior operations roles at Royal Dutch Shell in the North Sea, onshore Nigeria, Russia and Australia. Since 2017 Mr. Craig has fulfilled the role of Director and Executive General Manager- West of Upstream Production Solutions. Mr. Barkla will leave Strike as one of its longest serving employees, having started with the company in 2015. Mr. Barkla leaves the company in a much stronger position, having been a major part of the company's success to date and a key member of the leadership team since the significant Management and Board changes in 2017. Mr. Barkla presided over Strike's operational journey from explorer and pioneer in the Cooper Basin to establishing itself as a future gas producer in the Perth Basin, Western Australia. Mr. Craig will commence his role from the start of April 2021 after a period of handover from Mr. Barkla and requisite onboarding. Tillkännagivande • Feb 16
Strike Energy Limited Provides an Update on the Drilling Operations At We4 Behalf of the Ep469 Joint Venture Strike Energy Limited provides an update on the drilling operations at WE4 behalf of the EP469 Joint Venture. Since the last update, Strike has successfully completed drilling the 17-1/2" first intermediate hole section to 2,635m and is currently running the 13-3/8" casing. Prior to reaching the casing point, hydrocarbon shows were observed in the Cattamarra Coal Measures as seen during the drilling of WE2 and WE3. Strike will finish casing and cementing of the first intermediate hole section and will then commence drilling the 12-1/4" second intermediate hole section. Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m. West Erregulla 4 (and 5) will appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia /High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will also be appraised during West Erregulla 4 & 5. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E; West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E; and West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E. Tillkännagivande • Feb 08
Strike Energy Limited Provides West Erregulla Update Strike Energy Limited provides an update on the drilling operations at WE4 behalf of the EP469 Joint Venture. Current Operations: Since the last update, Strike has successfully completed drilling the surface hole to a chosen casing point at 1,003m and has landed and cemented in place the 20" surface casing. Strike has subsequently conducted routine pressure testing of the BOP and has started preparing to run in hole to start drilling the first intermediate 17-1/2" section. As personnel movement restrictions around the State have been eased in accordance with the reduction of the Western Australian COVID-19 lockdown measures, normal drilling operations and logistics have recommenced. Strike will commence drilling the first intermediate 17-1/2" hole section down to a nominal depth of 2,550m. Tillkännagivande • Feb 02
Strike Energy Limited Provides an Update on the West Erregulla Appraisal Strike Energy Limited provided an update on the West Erregulla Appraisal Campaign well on behalf of the EP469 Joint Venture. Since the last update, Strike has drilled the 26" surface hole section of WE4 down to 707m and is drilling ahead. During the previous period, a section of the Rig 970's mud system became inoperable and several days of downtime were observed whilst waiting for delivery of a replacement part. Outside of this unavoidable downtime, progress has been good, and drilling has been smooth. Upon announcement on the afternoon of the 31st of January 2021 that the West Australian Government was moving into a 5-day lock down /quarantine period, Strike mobilised all of the required personnel to site in order for the operations to continue without the need to stand down whilst quarantine was observed. Strike will complete drilling the 26" surface hole section to a nominal depth of 1,200m and will then proceed to case and cement the section before assessing the current personnel movement restrictions in the State and drilling ahead. Three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m. WE4 and 5 are designed to appraise the reservoir distribution in the central fault block. After various coring and logging operations the wells will be flow tested (on success) and completed as future producers across the Kingia and High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in WE2 will be appraised during WE4 & 5. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E (suspended). West Erregulla 4: 29° 25' 8.89" S, 115° 19' 18.15" E. West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E. The company operator and the holder of a 50% joint venture interest in EP469, and Warrego Energy a holder of the other 50% joint venture interest. Tillkännagivande • Jan 25
Strike Energy Limited Provides an Update on the West Erregulla Appraisa Campaign Strike Energy Limited provides an update on the West Erregulla Appraisa Campaign well on behalf of the EP469 Joint Venture. Since the last update, Strike has successfully suspended WE3 with a series of cement plugs. Subsurface, Engineering and Procurement works are ongoing with regards to the plan on taking WE3 to final depth. Post the suspension of WE3, Rig 970 packed down, moved and setup at the WE4 lease. The operations went smoothly without incident and the efficient move has allowed for several maintenance programs to be carried out. After the completion of the pre-spud checklist, WE4 was officially spud over the weekend and drilling operations have commenced. Tillkännagivande • Jan 22
Strike Energy Limited Provides an Update on High Value Near Field Exploration Targets in the Greater Erregulla Region Strike Energy Limited provided an update on its high value near field exploration targets in the Greater Erregulla region. The WA Department of Mines, Industry Regulation and Safety (DMIRS) has granted Strike exploration permits EP503 and 504. This is due to the conversion of EPA82 and EPA98 resulting from the conclusion of the Geraldton Alternate Settlement Agreement and the corresponding Indigenous Land Use Agreement (ILUA). EPA98 is expected to convert shortly after other Government processes are completed. The grant of these high prospective Permits by DMIRS allows for the commencement of data acquisition over Strike's current opportunity in South Erregulla, starting with the `Maior 2D seismic survey' which is set to be shot in the first half of 2021. Strike has awarded the Maior 2 seismic survey to Velseis Seismic. The seismic campaign is expected to support the prospective resource already identified at South Erregulla, which has been booked via Strike's interpretation of the Beach/Mitsui Trieste 3D seismic survey which it attained via data trade, and Strike's reprocessing of the historical 2D lines from the area. This survey will help identify a potential well location on the South Erregulla structure for later this year. The 140-line kilometre campaign has been designed to follow firebreaks, roads, tracks and existing cleared areas to minimise environmental and landholder impact and allow approvals and acquisition to be carried out in a timely fashion. Recent Insider Transactions • Jan 08
Deputy Chairman recently bought AU$270k worth of stock On the 6th of January, Neville Power bought around 1m shares on-market at roughly AU$0.27 per share. This was the largest purchase by an insider in the last 3 months. Neville has been a buyer over the last 12 months, purchasing a net total of AU$590k worth in shares. Is New 90 Day High Low • Jan 06
New 90-day high: AU$0.31 The company is up 10.0% from its price of AU$0.28 on 09 October 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 22% over the same period. Tillkännagivande • Dec 16
Strike Energy Limited Provides an Update on Behalf of the EP469 Joint Venture Strike Energy Limited provided an update on behalf of the EP469 Joint Venture. Current Operations: Since the last update, Strike has completed wireline logging operations in the second intermediate hole section across the Jurassic and Triassic formations and cased and cemented the 9-5/8" casing in place. Post this, Strike commenced drilling operations and the well is currently at 4,024m (measured depth). The wireline logs across the Jurassic and Triassic sequences revealed several conventional quality sands with good porosity development and evidence of historical hydrocarbon migration. However, these formations were measured with only residual amounts of retained oil and or gas. During the drilling of the final section of the well, consistent hydrocarbons shows have been observed throughout the Dongara and upper Wagina sandstones. Forward Plan: The drill string has been pulled to surface to change out the drill bit and add the logging while drilling tools onto the bottom hole assembly. Strike is currently running back in hole and the well
will shortly encounter the basal Wagina and then the primary Permian objectives, the Kingia and High Cliff Sandstones. West Erregulla Appraisal Campaign: Up to three appraisal wells will be drilled in the West Erregulla field, which is located in EP469. The appraisal wells will be drilled down to ~5,000m with West Erregulla 3 designed to test the continuation of the commercial gas accumulation in the northern fault block and West Erregulla 4 (and 5) to appraise the reservoir distribution in the central fault block. After various coring and logging operations all three wells will be flow tested (on success) and completed as future producers across the Kingia /High Cliff sequences for the proposed Phase 1 production operations. The Wagina gas discovery made in West Erregulla-2 will be appraised during the West Erregulla 4 & 5 wells. The West Erregulla wells are to be executed at the following coordinates: West Erregulla 3: 29° 22' 40.79" S, 115° 18' 30.70" E; West Erregulla 4 (proposed): 29° 25' 8.89" S, 115° 19' 18.15" E; West Erregulla 5 (proposed): 29° 24' 1.72" S, 115° 18' 27.17" E. Strike Energy Limited operator and the holder of a 50% joint venture interest in EP469, and
Warrego Energy (ASX: WGO) a holder of the other 50% joint venture interest. 