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Strike Energy Limited ( (AU:STX) ) has provided an announcement.
Strike Energy Limited has completed the workover of the South Erregulla-1 well and is progressing with the construction of the 85 MW South Erregulla Peaking Gas Power Station, targeting completion by October 2026. The company has announced a Reserve Capacity Price of $360,700 per MW for the 2027/28 Capacity Year, expected to generate significant capacity revenue. Additionally, Strike has certified 180 PJ of 2C Contingent Resource at Ocean Hill and received a strategic investment of $86 million from Carnarvon Energy to support its growth initiatives. The Western Australian gas market is experiencing temporary supply increases, but long-term demand is expected to rise, benefiting Strike’s strategic positioning.
The most recent analyst rating on (AU:STX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Strike Energy Limited stock, see the AU:STX Stock Forecast page.
More about Strike Energy Limited
Strike Energy Limited operates in the energy sector, focusing on gas-to-power projects. The company is involved in the development and production of gas resources, with a strategic emphasis on integrated upstream and downstream operations. Its market focus includes the Western Australian energy market, where it aims to capitalize on demand growth and the transition from coal to gas.
Average Trading Volume: 5,556,560
Technical Sentiment Signal: Sell
Current Market Cap: A$413.9M
See more data about STX stock on TipRanks’ Stock Analysis page.