Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2023business combination▲ Good
Talon's scheme booklet for Strike's 0.4828-share offer was registered with ASIC. The independent expert (BDO) found the scheme fair and reasonable absent a superior proposal; Talon directors still recommend it. Vote set for 7 December 2023.
3 Nov 2023business combination● Neutral
The Federal Court ordered Talon to hold a shareholder meeting on Strike's scheme, set for 7 December 2023, and approved sending the scheme booklet. This is the first court step of the 0.4828-share offer. Talon's directors still recommend it.
18 Oct 2023investor presentation● Neutral
Text not readable. Conference slides with only bullet markers extracted; no content can be confirmed.
11 Oct 2023business combination● Neutral
Strike and Talon signed an amended Scheme Implementation Deed on 10 October to accommodate Talon's deal with TMK Energy over the Mongolian Gurvantes project. Strike says the consideration (0.4828 Strike shares per Talon share) and conditions are unchanged.
11 Oct 2023business combination● Neutral
Talon's version of the amended deed with Strike: it enables the TMK transaction, with no change to the consideration. Talon's directors still unanimously recommend the scheme, absent a superior proposal. The scheme booklet is expected in November and the meeting in December.
9 Oct 2023production update▲ GoodMajor
Walyering began firm gas sales on 1 October at a steady 20 TJ/d, with condensate around 200 bbl/d. Final cost was $30m gross ($16.5m net to Strike), higher than forecast, with payback expected in about two quarters. Strike offered Talon a letter of comfort to lift its facility if needed.
9 Oct 2023production update▲ Good
Talon's version of the Walyering update: firm sales to Santos of 20 TJ/d began 1 October, with condensate near 200 bbl/d. Final development cost was $30m gross, above forecast. Talon received Strike's letter of comfort to increase the facility if needed.
5 Oct 2023drilling result▲ GoodMajor
South Erregulla-2 found 16m of net gas pay in the Kingia Sandstone at 4,843m, extending the 100%-owned field south and west. It also found 76m of potential CO2 storage reservoir. Together with SE-3 results, it may support converting contingent resources to reserves.
26 Sept 2023production update▲ GoodMajor
The Walyering gas field began exporting commissioning gas on 25 September 2023, with firm sales to Santos due in early October. Strike (55%) calls it its move from explorer to producer, ending the construction delays flagged in July.
26 Sept 2023production update▲ Good
Talon's version of the Walyering first-gas news: the field began exporting sales gas on 25 September 2023, with firm sales to Santos expected in early October. Talon holds 45% and is the target of Strike's pending scheme.
22 Sept 2023annual report● Neutral
Appendix 4G for the year to 30 June 2023: Strike confirms its corporate governance statement, current at 22 September 2023, is on its website. Administrative filing with no new financial or operational information.
22 Sept 2023annual report● Neutral
Strike's 2023 Corporate Governance Statement, approved by the board, says it complied with the ASX recommendations unless otherwise indicated. It notes a female director was appointed in 2023 and the 30% gender target was met. Administrative; no new business information.
22 Sept 2023annual report● Neutral
Strike's annual report for the year to 30 June 2023. The extracted text is only the contents page, notices and introduction, so no financial results or new developments can be confirmed from it.
13 Sept 2023regulatory community update▲ GoodMajor
South Erregulla production licence L24 was granted, so Strike can now file the safety case and environment plan needed for Phase 1 construction after a final investment decision. The SE-2 appraisal well spudded on 22 August and has drilled to 4,259m.
7 Sept 2023investor presentation● Neutral
Text not readable. Conference slides with only bullet markers extracted; no content can be confirmed.
28 Aug 2023business combination● Neutral
Strike declared its 0.4828 offer for Talon its best and final, absent a superior proposal. It says the deal is not critical to its strategy. If it fails, Strike will call in the drawn funds on the $6m facility and may enforce security over Talon's Walyering interest after 60 days. Scheme timetable runs to December.
28 Aug 2023business combination● Neutral
Talon's response to Strike's best-and-final statement: Strike cannot raise its price unless a superior proposal appears. If the scheme fails, the secured convertible facility must be repaid within 60 days, not converted into shares. Talon's board still recommends the scheme.
14 Aug 2023business combination● Neutral
Talon's version of the binding scheme with Strike: 0.4828 Strike shares per Talon share (implied $0.212), board unanimously recommends it absent a superior proposal. Mongolian interest may be spun out with $850,000 cash. Scheme booklet expected November 2023.
14 Aug 2023business combination▲ GoodMajor
Despite the earlier breakdown, Strike signed a binding deal to buy all of Talon by scheme: 0.4828 new Strike shares per Talon share (implied $0.212, ~21% premium), leaving Talon holders with ~11%. Strike gives a $6m convertible facility, and Talon's Mongolian asset is to be demerged. This would give Strike 100% of Walyering.
1 Aug 2023business combination● Neutral
Talon's account: Strike's revised proposal of 26 July offered 0.4828 Strike shares per Talon share (implied $0.21, a 20% premium) plus a convertible facility of up to $6m. It was withdrawn when terms could not be agreed before trading resumed.
1 Aug 2023business combination● NeutralMajor
Strike says talks to buy Talon at 0.4828 Strike shares per Talon share, plus a $6m interim funding facility, ended without agreement after due diligence and negotiation of the facility. Strike will keep operating Walyering as normal.
1 Aug 2023listing compliance notice● Neutral
ASX notice that Strike's trading suspension will be lifted immediately after it releases its announcement on the proposed material transaction. Administrative only.
31 July 2023listing compliance notice● Neutral
At Strike's request, ASX suspended its shares pending an announcement about a proposed material transaction. Strike asked for the halt to last until trading on 1 August or until the announcement. This relates to the Talon talks.
25 July 2023business combination● NeutralMajor
Talon says Strike made an unsolicited, non-binding proposal on 19 July to acquire it for 0.4586 Strike shares per Talon share (about 10.8% of the merged group), with Talon's Mongolian assets demerged. Strike withdrew it on 23 July when Talon asked for more time.
21 June 2023investor presentation● Neutral
Text not readable. Investor showcase slides with only bullet markers extracted; no content can be confirmed.
19 June 2023production update● Neutral
Talon's update on Walyering: Strike expects mechanical completion within two weeks, then commissioning and production. A condensate trucking agreement with Road Trains Australia was signed. First gas, earlier targeted before end of June quarter, is slipping slightly.
19 June 2023production update● Neutral
Text not readable. Only a bullet marker was extracted, so nothing about the Walyering update can be confirmed.
15 June 2023material agreement▲ GoodMajor
Strike finished gas marketing for South Erregulla and is negotiating a 5-year, 20 TJ/d binding supply deal with a major WA industrial user. Enerflex is engineering the 40 TJ/d Phase 1 plant, estimated at $90m (excluding export pipeline), with late-2024 start-up targeted. Neighbouring Trigg-1 reduced appraisal risk.
8 June 2023regulatory community update▲ Good
WA Government gave Strike's gas acceleration strategy Lead Agency Service, providing case management and coordinated approvals across departments. Supports the end-2025 target for four gas projects; no funding or approvals are granted.
17 May 2023contract award▲ Good
Walyering JV (Strike 55%) signed condensate processing and sales agreements with Santos, with gross revenue forecast above A$10m a year at 250 bbl/d and US$75 Brent. Construction continues, with start-up still targeted before end of June quarter.
