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Strike Energy's Power Station Milestone an 'Important' Derisking Event, Says Euroz Hartleys

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Strike Energy's (ASX:STX) mechanical completion of the South Erregulla Peaking Power Station project delivers an "important" de-risking event, according to a Thursday note by Euroz Hartleys.

The company on Thursday said its 85-megawatt South Erregulla Peaking Power Station gas-fired project in Western Australia achieved mechanical completion.

The research firm said the completion also improves cash flow visibility in the short to medium term, decreasing balance sheet risk.

Euroz Hartleys kept a buy rating on Strike Energy with its AU$0.22 price target under review.

The company's shares fell almost 3% in recent Thursday trade.

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