Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Jan 2024quarterly activities report▲ Good
First quarter of production: Walyering produced 1.9 PJe gross, with $14.4m gross revenue. Cash was $67m at quarter end (liquidity ~$114m with $47m undrawn debt) after paying down $6.7m of Macquarie debt. Walyering is now 100% Strike. Reserves review with RISC underway.
25 Jan 2024investor presentation● Neutral
Strike announced a webinar on 29 January 2024 after its Q2 FY24 quarterly report. Administrative notice with no new results.
11 Jan 2024resource reserve update● Neutral
Triangle Energy, operator of the L7 and EP 437 permits, reported new oil prospects: 36 MMbbl best-estimate prospective resource (gross). Talon's 25% stake in the JV is now Strike-owned; wells are targeted for 2024. Prospective only, not drilled; Strike's share is not stated here.
3 Jan 2024production update▲ GoodMajor
Walyering reached its 33 TJ/d nameplate gas rate and 265 bbl/d condensate on 24 December 2023, within 90 days of start-up. Strike also signed a firm take-or-pay deal with Alinta for 3.4 PJ over about 2 years from February 2024, adding to the Santos contract.
27 Dec 2023business combination▲ GoodMajor
Strike's acquisition of Talon was implemented: all Talon shares transferred to Strike, and 322,268,051 new Strike shares (0.4828 per Talon share) were issued. Talon directors resigned and Nicholls, Hackett and Hoffman joined its board; delisting expected 28 December 2023.
27 Dec 2023business combination▲ Good
Strike confirmed the Talon scheme was implemented, so it now owns 100% of Talon. Talon holders received 0.4828 new Strike shares each; ineligible and small holders' shares go to a sale nominee to be sold within 15 business days. Duplicates Talon's own notice.
14 Dec 2023business combination▲ GoodMajor
Strike's acquisition of Talon became effective, giving Strike 100% of Walyering's free cash flow and, per its own statement, 1,022 PJ of Perth Basin 2P reserves and 2C resources. Talon holders get 0.4828 Strike shares each, issued 27 December 2023.
14 Dec 2023business combination● Neutral
Talon confirmed the scheme took effect on 14 December 2023 after court orders were lodged with ASIC. Talon shares are suspended from close of trading, with Strike shares to be issued on 27 December and delisting on 28 December.
13 Dec 2023business combination▲ GoodMajor
The Federal Court approved the scheme under which Strike acquires Talon for 0.4828 new Strike shares per Talon share. Talon shares are expected to be suspended after trading on 14 December, with implementation on 27 December 2023.
4 Dec 2023drilling result▲ GoodMajor
South Erregulla-3 found 13m of net gas pay in the Kingia Sandstone, confirming the field continues to the northwest, plus 75m of net potential CO2 storage sand. With SE-2, it will feed an independent review for converting contingent resources to reserves. Flow tests are expected from late January 2024.
23 Nov 2023investor presentation▲ Good
Chair and CEO AGM address and presentation. The chair calls Walyering the move from explorer to producer, cites the $136m Warrego sale proceeds and the Talon deal, said to nearly double free cash flow, with implementation on 27 December. Mostly repeats known facts.
23 Nov 2023agm notice● Neutral
All nine AGM resolutions passed on 23 November 2023. Jill Hoffmann's election and her option grant were approved, the latter with the weakest support at about 57.8% of proxy votes in favour (40.4% against).
17 Nov 2023material agreement▲ GoodMajor
Strike signed foundation gas sales for South Erregulla Phase 1: 36.5 PJ to Worsley Alumina JV (South32) over 5 years, and 5.75 PJ to Perth Energy (AGL) over 3 years, covering about 60% of capacity. Both depend on a final investment decision. This follows the earlier negotiation with a major industrial user.
14 Nov 2023regulatory community update▲ GoodMajor
South Erregulla's Phase 1 40 TJ/d development received its primary environmental approval, completing the primary government approvals needed before a final investment decision can be considered. SE-3 spud 21 October and had drilled to 4,373m, with heavy gas seen in the Beekeeper Formation.
13 Nov 2023annual report● Neutral
Strike's FY23 Sustainability Report, covering July 2022 to June 2023, describes its sustainability approach and climate disclosures, and presents the company as moving from explorer to producer. Extracted text shows no new financial or operational figures.
7 Nov 2023business combination● Neutral
Talon posted the scheme booklet and proxy forms to its shareholders on 7 November 2023, ahead of the 7 December vote on Strike's takeover. Procedural step with no new terms.
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.
25 Oct 2023quarterly activities report● Neutral
September quarter cash report: cash fell to $103.5m from $127.9m, driven by $14.9m exploration and $6.9m oil and gas asset spending. Facilities total $79m with $32.25m drawn. Narrative text was not extracted, so operational detail is unconfirmed.
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.
28 Sept 2023agm notice● Neutral
Strike will hold its 2023 AGM on 23 November 2023, with director nominations due by 5 October 2023. Notice of meeting to follow in October. Administrative.
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.
