Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Nov 2021drilling progress report● Neutral
Ensign Rig 970 was handed over from Lockyer Deep on 1 November and is mobilising to Walyering-5. Spud is expected mid-November, with a 33-day drilling and completion campaign. Strike holds 55% and Talon 45% of EP447.
26 Oct 2021remuneration report● Neutral
CEO Stuart Nicholls forfeits his FY21 short-term incentives, so AGM Resolution 3 (performance rights grant) is withdrawn. He cites the material fall in market value after the West Erregulla appraisal campaign. The AGM is on 15 November 2021.
25 Oct 2021director officer appointment▼ Bad
Deputy Chairman Nev Power has been summoned to court over a matter relating to Western Australia's quarantine laws. Strike says he will continue as a director. No further detail is given.
22 Oct 2021quarterly activities report● Neutral
Quarterly report restates the 300 PJ 2P maiden reserve, Haber pre-FEED completion and geothermal progress. Walyering rig mobilisation is expected late October for a November spud. CEO notes the reserve rests on only three well penetrations. No new figures beyond known items.
20 Oct 2021drilling scheduled● Neutral
Partner Talon says Walyering-5 site works are finished and the rig is still awaiting release from Lockyer Deep-1, then about two weeks to mobilise. The spud timing slips from October. This is the partner's release repeating known Strike operations.
11 Oct 2021resource reserve update● NeutralMajor
NSAI certified West Erregulla's maiden Perth Basin reserve: 300 PJ gross 2P (150 PJ net to Strike), up to 372 PJ 3P, plus 128 PJ 2C and 198 PJ 2U. It supports Phase 1 and bank mandates, but the text says the resource base is lower than Strike's 2019 estimate.
20 Sept 2021other▲ GoodMajor
Haber's Pre-FEED study is complete: base capital estimate US$1.64bn (±25%), 6% below the January 2021 estimate. Haldor Topsoe autothermal reforming cuts gas need to 80 TJ/d. Shortlisted buyers negotiate binding terms for all 1.4 mtpa in Q4; FEED follows success at SE-1.
17 Sept 2021annual report● Neutral
Annual report for the year to 30 June 2021 includes the chairman's letter, directors' and remuneration reports, financial statements and climate disclosures. Only the opening pages were provided, so no financial figures can be stated here.
17 Sept 2021other● Neutral
Appendix 4G governance checklist, signed by Justin Ferravant, pointing to the corporate governance statement on the company website. Administrative filing with no new substance.
17 Sept 2021other● Neutral
Corporate governance statement for FY2021, stating the company followed the ASX recommendations unless noted. Mentions a new target of at least 30% of each gender on the board by 2023. Administrative, no new substance.
15 Sept 2021material agreement▲ Good
Strike signed non-binding MOUs with ATCO and Infinite Blue Energy on Mid-West infrastructure and possible green hydrogen supply to Project Haber. Haber would start with its own 10MW electrolyser (about 2% of hydrogen feedstock). Nothing is binding, and no price or volume is committed.
8 Sept 2021investor presentation● Neutral
Text not readable.
7 Sept 2021regulatory community update▲ Good
The 5-month heat needle survey for the 100% owned Mid-West geothermal project is finished. Strike plans to apply for a permit over up to 1,750 km² in Q4 2021 and expects an independent inferred resource booking next quarter, with a Delft Inversion seismic study co-funded by a government grant.
3 Sept 2021other▲ Good
Strike announces its inclusion in the S&P/ASX 300 index from the September rebalance, which the CEO calls acknowledgment of progress on its gas, fertiliser and geothermal strategy. No operational or financial change.
3 Sept 2021other● Neutral
S&P Dow Jones quarterly index rebalance notice. It lists Strike Energy as an addition to the S&P/ASX 300 effective 20 September 2021. It is a third-party notice, not a Strike announcement.
26 Aug 2021drilling scheduled● Neutral
Site works have begun at Walyering-5 in the central Perth Basin, with spud now estimated for October after Lockyer Deep-1. It tests a Jurassic wet-gas play (86 BCF best-estimate prospective, 100% basis) and could lift Ocean Hill's 360 BCF contingent resource. Talon's 45% farm-in registration is expected Q3.
26 Aug 2021drilling scheduled● Neutral
Farm-in partner Talon says Strike has started Walyering-5 site works, with spud expected late September to early October. Talon is earning 45% of EP447 and is fully funded. This is the partner's release repeating Strike's news.
17 Aug 2021well test result▼ BadMajor
WE5 flowed only 13.1 mmscf/d instantaneous and 5.1 mmscf/d over 77 hours, which Strike attributes to near-wellbore skin and an ineffective completion. A recompletion and retest are planned, and NSAI resource and reserve work now begins.
16 Aug 2021asset acquisition disposition● NeutralMajor
Strike agreed to sell its Cooper Basin PEL96 interest (Klebb and Jaws) to Talon-majority-owned Greenflame for a nominal fee, releasing it from commitments and rehabilitation. Settlement needs third-party consents. No loss expected, as the asset was fully impaired in June 2020.
4 Aug 2021material agreement▲ GoodMajor
Round 2 of Project Haber's urea offtake closed with 4.75 mtpa of firm proposals of up to 15 years, against 1.4 mtpa of planned output. Strike has short-listed buyers to negotiate binding deals and appointed Azure Capital for the equity sell-down.
30 July 2021quarterly activities report● Neutral
June quarter report recaps WE4's 35 mmscf/d test, WE5's results, the Warrego stake, gas plant commitments and the $85m raising. It says geothermal acquisition completed and offtake round 2 closed. Largely repeats known events.
29 July 2021well test result● Neutral
Text not readable beyond the title WE5 Production Test Update; the result followed on 17 August.
20 July 2021other● Neutral
Warrego responded to Strike's 8.16% stake, valuing it at $22.3m and saying it does not regard Strike as independent given the joint venture. It says Phase 1 is moving into construction. This is the partner's statement, not a Strike announcement.
20 July 2021asset acquisition disposition● NeutralMajor
Strike bought 8.16% of partner Warrego Energy for about $22m, lifting its economic interest in West Erregulla to 54% from 50%. It says it has no intention on a further transaction with Warrego and remains fully funded.
16 July 2021investor presentation● Neutral
Macquarie conference presentation restating the integrated gas, geothermal and fertiliser strategy and Net Zero 2030. It sets out Strike's perched-water view against its partner's, and cites WE5 net pay of 32m. Repeats known information.
15 July 2021regulatory community update● Neutral
The 140km Maior 2D seismic survey at South Erregulla has started, to fix the SE-1 well location for an October spud. Strike notes the joint venture partners differ on the field's gas-water contact, but says South Erregulla would sit above it on either view.
12 July 2021well test result● NeutralMajor
WE4 flowed 35 mmscf/d over 46 hours from 75m of Kingia, below WE2's 69 mmscf/d, with some low-salinity water. Strike calls it a perched water lens; its joint venture partner interprets it differently. WE4 stays a Phase 1 producer.
6 July 2021drilling scheduled▲ GoodMajor
Strike laid out its second-half 2021 Perth Basin program: South Erregulla-1 spuds in October, Walyering-5 in September under Talon's free carry, and EP506 was granted. A non-binding MOU covers 15-20 TJ/d of South Erregulla gas for 5 years from 2024.
5 July 2021contract award▲ GoodMajor
Title says Strike committed to gas plant procurement at West Erregulla; the body text was not provided. The Q2 report says long lead items were committed to secure gas delivery for early 2023. No cost or supplier is available here.
1 July 2021drilling progress report● Neutral
Text not readable.
