Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Apr 2022quarterly activities report▲ GoodMajor
March quarter report: SE1 confirmed a Kingia gas discovery (14m net pay in a 52m gas column, ~6,800 psia, no water contact) plus the Wagina discovery. A Kingia flow test is planned for mid-May. Also covers Walyering results, the Perth Energy sale and Haber progress.
27 Apr 2022director officer appointment● Neutral
Nev Power's leave of absence ended and he resumes as Deputy Chair. He was not paid director fees during the leave. No reason for the leave is given, and the court matter from October 2021 is not mentioned.
26 Apr 2022well test result▲ GoodMajor
Walyering-5 interim tests were strong: C-Sand stabilised at 27 mmscfd and D-Sand at 10 mmscfd, with B-Sand peaking at 33 mmscfd. Walyering-6 has spud, and Momentum Engineering was awarded facility design for up to 30 mmscfd.
13 Apr 2022drilling progress report● Neutral
Walyering-5 formal flow testing restarts and is extended to up to 28 days to gather more data. RISC Advisory is appointed to assess reserves and resources after testing. Walyering-6 rig mobilises, with drilling due late April.
8 Apr 2022regulatory community update▲ Good
Strike won a $2m grant from the WA Government's Clean Energy Future Fund to support drilling Future State-1, its planned test of the Mid-West geothermal project. Small funding support for a project still awaiting its permit.
6 Apr 2022material agreement▲ GoodMajor
Strike signed a gas sales agreement to supply 14.6 PJ to Perth Energy (AGL) over 5 years, expected to start in 2024, from its Perth Basin gas. It is conditional on usual greenfield-development conditions. Strike's first named domestic gas sale of this scale in the provided history.
28 Mar 2022joint venture update● Neutral
Joint venture partner Talon (45% of Walyering) repeats Strike's 25 March results. It expects testing to upgrade resources and allow its maiden gas reserve booking. Nothing new on the field itself.
25 Mar 2022well test result▲ Good
Walyering-5 testing began: the D-Sand was perforated and flowed wet gas at about 7 mmscf/d (constrained by equipment), with 4,516 psi reservoir pressure and no H2S. Walyering-6 is permitted, with drilling expected in May. Full four-sand test still pending equipment.
23 Mar 2022investor presentation● Neutral
Australian Domestic Gas Outlook conference presentation. Text provided is garbled diagram labels only; nothing new can be read.
8 Mar 2022investor presentation● Neutral
Euroz Rottnest conference presentation. Text provided is only diagram labels on the gas supply chain; nothing new can be read.
7 Mar 2022other● Neutral
Text not readable. Title suggests South Erregulla success unlocking Project Haber, but no content is available, so nothing can be confirmed here.
1 Mar 2022drilling progress report● Neutral
SE1 recovered about 45m of Kingia core with gas shows during coring; it has gone to the lab. Drilling resumes to final depth in the Holmwood Shale, then wireline logging. No results from the core yet.
25 Feb 2022drilling progress report▲ Good
South Erregulla-1 reached the primary Kingia Sandstone at 4,859m, with gas shows and drilling breaks in the interpreted high-quality top section. Coring of 45m comes next. No flow or resource figure yet, but it is the first sign at the main target.
23 Feb 2022director officer appointment● Neutral
Deputy Chairman Nev Power has requested and been granted a leave of absence from the board until further notice. No reason is given in the text. Follows the October 2021 court summons notice, though the text does not link them.
23 Feb 2022half year report● Neutral
Half-year report to 31 Dec 2021. The text provided covers the directors' report opening only: focus on the West Erregulla NSAI reserve (300 PJ 2P gross, 150 PJ net), Walyering appraisal, Haber pre-FEED and SE1 preparation. Financial figures are truncated and not shown.
22 Feb 2022drilling progress report● Neutral
SE1 has cased and pressure tested the intermediate section and is drilling the production section at 4,535m, heading for the Kingia Sandstone, where coring is planned. No new result.
17 Feb 2022drilling result▲ GoodMajor
SE1 confirmed a conventional gas discovery in the Wagina Sandstone: 160m of gas-charged sand, 16m net pay in high-quality flow units and 61m lower-quality gasifier, pressure over 7,500 psi. Strike calls it an upside to the main Kingia target; no resource figure yet, flow testing needed.
16 Feb 2022drilling progress report▲ Good
Walyering-5 flow test equipment arrives late February, with a 15-20 day test of four sands. Core permeability was upgraded to 280mD. Walyering-6 long lead items and rig slot secured. Concept is now 2 wells and up to 30 TJ/d, up from the earlier 20 TJ/d.
14 Feb 2022drilling progress report▲ Good
SE1 reached 4,421m and hit strong gas flows in the Wagina Sandstone, with preliminary data suggesting a conventional gas reservoir; wireline testing will assess significance. It also found 103m of net Jurassic sandstone, a potential carbon storage reservoir. Kingia target not yet reached.
10 Feb 2022investor presentation● Neutral
Bell Potter conference presentation (February 2022) on Strike's gas, fertiliser and renewables strategy. It refers back to previously announced reserves and resources; the text provided shows nothing new.
2 Feb 2022regulatory community update▲ Good
The Federal Government granted Project Haber Major Project Status, giving access to the Major Projects Facilitation Agency for approvals support. Strike says this completes State and Federal recognition. It does not remove Haber's dependence on proving gas at South Erregulla, finance and binding offtake.
24 Jan 2022drilling progress report● Neutral
SE1 has cemented surface casing at 1,940m and is running in to drill the intermediate section to 4,330m. No new geological result yet.
17 Jan 2022drilling spud● NeutralMajor
South Erregulla-1 spudded 15 January 2022 and was drilling at 1,045m. Strike expects the Kingia Sandstone at 4,369m, up to 200m shallower than at West Erregulla-2. The well, 100% Strike, targets about 350 PJ to supply Project Haber.
10 Jan 2022drilling progress report● Neutral
The Ensign 970 rig is fully mobilised to South Erregulla-1, with spud expected within the week. Minor delay came from getting crew through quarantine before WA border closures. This slips the late-December spud target slightly. SE1 aims to prove about 350 PJ for Haber.
15 Dec 2021regulatory community update▲ GoodMajor
Project Haber won a $2m federal Supply Chain Resilience grant and WA Lead Agency Status. Strike has committed to negotiate a full-form offtake for 100% of the 1.4 mtpa, conditional on South Erregulla-1 success. SE1 spud targeted late December; FEED early works and tender started.
8 Dec 2021drilling result▲ Good
Walyering-5 is cased and pressure tested, with gross cost about $8.5m, under budget. Strike targets a fast, low-capital restart, with a concept of up to 20 TJ/d from about 2 wells, subject to the Q1 2022 test. Ocean Hill and Jurassic leads are upgraded in confidence.
6 Dec 2021drilling result▲ Good
Partner Talon's release repeating Strike's Walyering-5 result: four gas sands, 51m net pay, 45% interest. It adds Talon's own view and its Condor prospect, but nothing new about Strike's position.
6 Dec 2021drilling result▲ GoodMajor
Walyering-5 confirmed four gas-charged sands with 51m net pay, under 1% CO2, and results Strike says exceeded pre-drill expectations. No gas-water contact seen yet. A Q1 2022 production test will feed an independent resource statement.
29 Nov 2021drilling progress report▲ Good
Walyering-5 reached 3,435m total depth in 13 days, 8 days ahead of schedule. Elevated gas and good-quality sands were seen in the A, B and deeper C sands. Wireline logs are running to establish significance.
24 Nov 2021drilling progress report● Neutral
Walyering-5 reached 2,380m and 9-5/8 inch casing is cemented and pressure tested. Strike is preparing to drill the final section to 3,274m, expecting the main A and B sands at about 3,073m and 3,195m. No new result yet.
