FINWIRES · TerminalLIVE
FINWIRES

ASX:STX

11 stories mentioning ASX:STX

Every FINWIRES story that references ASX:STX, newest first.

Asia

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

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.

ASX:STX
Asia

Strike Energy's South Erregulla Peaking Power Station Achieves Mechanical Completion

Strike Energy (ASX:STX) said its 85-megawatt South Erregulla Peaking Power Station gas-fired peaking power project in Western Australia achieved mechanical completion, according to a Thursday Australian bourse filing.Mechanical completion confirms that all major plant and equipment have been installed and construction activities have substantially concluded, the filing added.The company said the project has entered the commissioning phase, which includes the introduction of South Erregulla gas into the facility and the start of live commissioning activities to test and verify the integrated operation of the power station's systems and equipment.

ASX:STX
Asia

Strike Energy's Recovery of Hydrocarbons to Surface at Western Australia Well is an Encouraging Indicator, Euroz Hartleys Says

Strike Energy's (ASX:STX) confirmation that hydrocarbons have been flowed to surface at the Walyering West-1 exploration well, onshore Perth Basin in Western Australia, is an "encouraging early indicator" ahead of the final test results, Euroz Hartleys said in a Tuesday note.The firm began flow testing operations at the well, with initial testing of the C1 Sand recovering hydrocarbons to the surface. The start of flow testing marks the next key step in determining the commerciality of the Walyering West discovery.The firm expects the evaluation and results from the testing program by the end of June.The investment firm retained its buy rating on Strike Energy with its AU$0.22 per share price target currently under review.

ASX:STX
Asia

Strike Energy Confirms Hyrdocarbon Recovery During Western Australia Well Flow Testing Operations

Strike Energy (ASX:STX) confirmed that hydrocarbons have been recovered to surface at the Walyering West-1 exploration well, onshore Perth Basin in Western Australia, during flow testing operations, according to a Tuesday Australian bourse filing.The program is designed to evaluate reservoir productivity and gather pressure and flow rate data from the A Sub1, C 1, and D 1- 4 sands within the primary target of the Cattamarra formation. The program and evaluation are expected to be completed by the end of June.Production from the Walyering gas field is undergoing a planned shutdown to facilitate the installation and commissioning of field compression facilities. Facility restart is anticipated on Wednesday.Its shares fell 2% in recent trading on Tuesday.

ASX:STX
Asia

Strike Energy's Downside Appears Limited, While Upside Exposure Remains Significant, Euroz Hartleys Says

Strike Energy's (ASX:STX) downside appears limited at current levels, while upside exposure remains "significant" through stronger domestic gas pricing, asset progression, exploration success, and potential mergers and acquisitions, Euroz Hartleys said in a note on Wednesday.Near-term catalysts include the Walyering West flow test results, binding terms on a downstream commercialization at West Erregulla expected via the nearby producing Waitsia gas plant, and first gas sales from the South Erregulla peaking plant targeted for Oct. 1.At steady state, Strike is forecast to generate around AU$90 million per year in earnings before interest, taxes, depreciation, and amortization (EBITDA) following South Erregulla's start-up, increasing to around AU$150 million per year once West Erregulla is online.The investment firm retained its buy rating on Strike Energy and a price target of AU$0.22 per share.

ASX:STX
Asia

Strike Energy Appoints CEO, Chair

Strike Energy (ASX:STX) appointed Shelley Robertson as new chief executive, effective June 1, according to a Monday Australian bourse filing.Robertson will succeed Peter Stokes as CEO, who has resigned with immediate effect, per the filing.John Poynton will retire as the company's non-executive chair on June 30, and Nev Power, currently deputy chair, will assume the role from July 1, the filing added.

ASX:STX
Asia

Strike Energy's Western Australia Exploration Well 'Appears Commercial', Euroz Hartleys Says

Strike Energy's (ASX:STX) result from the Walyering West-1 exploration well, onshore Perth Basin in Western Australia, "appears commercial," however, likely not at the full pre-drill 2U prospective resource, Euroz Hartleys said in a Friday note.Strike announced a gas discovery at the Walyering West-1. The well delivered a total of 27.5 meters of net pay in a number of reservoir zones in the Jurassic Cattamarra Coal Measures, with an average porosity of 11.4% and peak porosity up to 17.7%. Flow testing should begin in around a month to confirm commerciality.Walyering West-1 was targeting a 2U prospective resource of 46 petajoules, and currently, the analysts assume a risked volume of gas has been discovered.The investment firm maintained its buy recommendation on Strike Energy and raised its price target to AU$0.22 per share from AU$0.21 per share.

ASX:STX
Asia

Strike Energy Confirms Presence of New Conventional Gas Accumulation in Western Australia Prospect, Shares Jump 7%

Strike Energy (ASX:STX) drilled and evaluated the Walyering West-1 well in the Perth Basin in Western Australia to a total depth of 3,650 meters and confirmed the presence of a new conventional gas accumulation in the Walyering West prospect, according to a Friday Australian bourse filing.Mud logs, logging-while-drilling logs, and pressures were used to evaluate the conventional sandstone intervals in the Jurassic Cattamarra Coal Measures targeted by the well.The firm was unable to complete wireline fluid sampling due to wellbore conditions, which will now be conducted during flow testing. The drill rig is currently preparing to run seven-inch casing and cement in place.Its shares jumped 7% in recent trading on Friday.

ASX:STX
Asia

Strike Energy Reports Smooth Progress at Western Australia Well; Shares Fall 4%

Strike Energy (ASX:STX) has safely cased the intermediate section of its Walyering West-1 exploration well at 2,596 meters and is continuing drilling at 2,670 meters within the Cattamarra coal measures, marking steady progress in its fully owned L23 license, according to a Thursday filing with the Australian bourse.The well is planned to be drilled to a total depth of around 3,639 meters to assess the reservoirs in the Cattamarra formation, followed by wireline logging operations, per the filing.Initial results are expected in early May, and if successful, the well will be cased and suspended for further testing, including possible production evaluation, the filing added.The company's shares fell 4% in recent Thursday trade.

ASX:STX
Asia

Strike Energy's Spud of Walyering West-1 in Western Australia Deemed 'Near-Term, High-Impact' Catalyst, Euroz Hartleys Says

Strike Energy's (ASX:STX) spudding of the Walyering West-1 exploration well in Western Australia is deemed a "near-term, high-impact" catalyst for the company with its proximity to infrastructure and potential to extend the life of its producing asset, Euroz Hartleys said in a Thursday note.The company recently started drilling at the well to test a 46-petajoule 2U prospective resource within a proven hydrocarbon system, with total depth planned at about 3,639 meters measured depth rotary table.Drilling will last about 20 days, with initial results expected in early May, the financial services firm said.If successful, the well can be tied back to the existing Walyering processing facility for commercialization, potentially within 12 months.Additionally, the project has the potential to extend the production life of the Walyering gas field by five to seven years.Euroz Hartleys reaffirmed its buy recommendation and AU$0.21 price target on Strike Energy.

ASX:STX
Asia

Strike Energy Starts Drilling at Exploration Well in Western Australia

Strike Energy (ASX:STX) commenced drilling at its Walyering West-1 exploration well under its L23 production license in Western Australia's Perth Basin, according to a Thursday filing with the Australian bourse.The well is drilling ahead at 1,006 meters measured depth rotary table (MDRT). Drilling operations are expected to take roughly 20 days and return preliminary results early in May, per the filing.Walyering West-1 is targeting sandstone reservoirs within the Cattamarra Coal Measures formation, with the aim of evaluating gas and condensate potential, the company said.

ASX:STX
ASX:STX News | FINWIRES