Past year: ▼ 5%(9.70c – 12.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Mar 2023other▲ GoodMajor
Strike launched a 'fully funded' gas acceleration strategy: 5 wells and seismic, aiming for up to four gas sources online by end-2025, funded after ~$136m from selling its Warrego shares. Funding also counts an $80m Macquarie facility that is still uncommitted.
28 Feb 2023other● Neutral
Administrative Listing Rule 3.4.1 notice after the Warrego bid closed, attaching Strike's shareholder distribution and top 20 holders. Strike has 2,510,851,718 shares on issue; Justin Ferravant signs as CFO and Company Secretary.
23 Feb 2023half year report● Neutral
Half-year financial report to 31 December 2022 for Strike. The extract shows only the contents, notices and resource references (West Erregulla 50%, South Erregulla 100%, Walyering 55%, Ocean Hill 100%); no results figures are readable.
15 Feb 2023asset acquisition disposition▲ GoodMajor
Strike closed its Warrego bid holding ~30.4% (377m shares) and will accept Hancock's $0.36 cash offer, realising $136m. That resolves the takeover contest and, with earlier funding, gives $203m available; Hancock becomes West Erregulla JV partner holding Warrego's 50%.
9 Feb 2023investor presentation● Neutral
Text not readable. Title indicates a Bell Potter conference presentation; no figures can be confirmed from this text.
8 Feb 2023business combination▼ BadMajor
Hancock's $0.36 cash offer became unconditional after its 40% acceptance condition was met, taking Hancock to 52.17% and control of Warrego. This effectively decides the contest against Strike's scrip bid; the Strike board is reconsidering its position (text truncated).
3 Feb 2023business combination● Neutral
Strike declares its Warrego offer 'best and final', with no increase in the one-for-one ratio. Its voting power is 24.91%, with a further 1.57% expected, up from 20.57% on 17 January.
3 Feb 2023business combination● Neutral
Strike corrects the CHESS acceptance code in its sixth supplement to WGOSTK, and gives the required status notice: offer unconditional since 17 January, voting power 24.91%. Offer closes 13 February 2023. Administrative.
30 Jan 2023quarterly activities report▲ Good
Quarterly report: Walyering licence granted and still on track for gas by end Q1 2023, 36.5 PJ Santos-WA deal signed, Warrego offer open with Strike at ~21%. Also, $153m Macquarie financing, Haber FEED awarded to Technip, and gas plant sited at Mid West precinct.
23 Jan 2023business combination● Neutral
Warrego lodged its target's statement responding to Strike's scrip offer, also setting out directors' views on Hancock's cash offer. The extract is cover pages and contents only, so the recommendation cannot be confirmed from this text.
23 Jan 2023other● Neutral
Text not readable. Title indicates a rig has been secured for a multi-well campaign, matching the same-day fifth supplement on the Ensign 970; no details can be confirmed from this text.
23 Jan 2023drilling scheduled▲ GoodMajor
Strike secured Ensign 970 rig slots for 2023-24, shared with Mineral Resources' subsidiary. Two South Erregulla (100%) updip appraisal wells start mid-2023, targeting conversion of 178 PJ 2C to reserves; up to three wells follow in early 2024 at Southwest Erregulla, Erregulla Deep and possibly Ocean Hill.
17 Jan 2023business combination● Neutral
Strike's fourth supplement confirms a court order fixed a late quotation filing, satisfying that condition, and that it has waived its last condition. The one-for-one Warrego offer is unconditional; acceptances will be processed with consideration paid within 7 business days.
17 Jan 2023business combination▲ GoodMajor
Strike waived its last defeating condition, so its one-for-one Warrego offer is now unconditional. Strike and associates hold 20.57% of Warrego, so acceptances will lock in rather than depend on a threshold.
17 Jan 2023business combination● Neutral
Warrego says ASIC allowed electronic delivery of its target's statement on Strike's offer, due by 27 January 2023. Holders are told to take no action until then. Administrative; no recommendation yet.
12 Jan 2023business combination● Neutral
Strike notified that one defeating condition in its Warrego offer, tied to events before the offer opened, was fulfilled when the offer opened. Procedural; the offer was still subject to one remaining condition.
12 Jan 2023regulatory community update▲ GoodMajor
Talon reports Production Licence L23 for Walyering was granted to the joint venture (Strike 55% operator, Talon 45%). Procurement is ~98% complete and start-up is still targeted by end of Q1 2023, a key approval won on schedule.
12 Jan 2023regulatory community update● Neutral
Text not readable. Title indicates the Walyering Production Licence grant, matching Talon's same-day announcement; no figures can be confirmed from this text.
12 Jan 2023business combination● Neutral
Strike's third supplement says Hancock holds 25.91%, not the 32.6% it implied, after Regal sold to Mineral Resources, whose intentions are unclear. Strike intends to waive its remaining condition, making its offer unconditional.
11 Jan 2023business combination● Neutral
Strike began sending its bidder's statement, two supplements and acceptance form to Warrego holders; the one-for-one offer is now open for acceptance. Administrative step in the takeover contest.
11 Jan 2023business combination● Neutral
Statutory notice that Strike has finished sending its bidder's statement and supplements to Warrego holders on the 24 Dec 2022 register. Administrative only; no new terms.
11 Jan 2023business combination● Neutral
Text not readable. Title indicates the Strike offer for Warrego opened; consistent with the same-day despatch notices.
6 Jan 2023business combination● Neutral
Strike's second supplementary statement notes Hancock proposes lifting its cash bid from $0.28 to $0.36 if it reaches 40% acceptances. Strike says its offer, worth $0.375 per share at 5 Jan close, is still 4.2% higher, and expects to open 11 Jan.
30 Dec 2022business combination▲ Good
Strike's first supplementary statement says Warrego Chairman Greg Columbus recommends rejecting Hancock's $0.28 and accepting Strike's offer, absent a superior proposal. Strike's offer was worth $0.32 per Warrego share at 29 Dec close, a 14.3% premium.
30 Dec 2022business combination● NeutralMajor
Warrego lodged its target's statement responding to Hancock's unconditional cash takeover bid. It also set out the directors' views on Strike's competing scrip offer, and said both bids were now open for its shares.
23 Dec 2022material agreement termination● NeutralMajor
Strike will build its Greater Erregulla gas plant at its own Precinct and not extend the Phase 1 arrangements with Warrego and AGIG past end-2022. It also ended the gas balancing agreement with Warrego. Reverses the earlier 87 TJ/d EP469 plant plan; a third-party builder is yet to be found.
23 Dec 2022business combination● NeutralMajor
Strike formally lodged its bidder's statement for the off-market takeover of Warrego, offering one Strike share per Warrego share. This turns the Dec 2022 proposal into a formal bid against Hancock's cash offer; offer dates were still blank, so it was not yet open.
20 Dec 2022drilling scheduled▲ GoodMajor
The EP469 JV (Strike 50%, Warrego 50%) formally approved a budget for Erregulla Deep-1 and Southwest Erregulla-1, plus 2D seismic reprocessing. Rig slots are being negotiated for late 2023/early 2024, committing the partners to the December 16 exploration targets.
19 Dec 2022business combination● NeutralMajor
Warrego noted Strike's plan for an off-market takeover at 1 Strike share per Warrego share, competing with Hancock's earlier $0.28 per share offer. Bidder's Statement expected by year end. Warrego holders told to take no action until its Target's Statement, due by 29 December.
19 Dec 2022debt financing● Neutral
Text not readable. Title indicates a $153m domestic gas financing package, but no terms, lenders or purpose can be confirmed from the provided text.
