STX - Strike Energy

[Dona Ferentes]

... Not sure what is happening with well se2, now it too has problems. See attached. Not really that awe inspiring.

how deep are these wells?

I never was involved in getting a well into production, but the deeper they went, the more issues, was the rule of thumb. Sheer hydrostatic pressure.

 

[farmerge]

Hi @rcw1 I would be useless here as I swore off spec gas and oilers after the Neon Energy (NEN - now defunct) scam that caught me many years ago. Total amateur, was my first and only foray in this sector.
Seems like all the balls are up in the air but likely that the SE-3 well is a dud, although the second announcement, 7 days after the first, says that pressure had built up in the interval but they don't know what it is, i.e could be water under pressure in the formation or could be gas is how I take it fwiw, they didn't know. I didn't get your reading on SE-2 as being problematic as my read it from the second Feb 20 announcement was SE-2 being in a process of assessment, i.e neutral? Maybe there is a later announcement? But really, take no notice of my take. From my Neon Energy debacle I came to understand that there are observers who can spot a negative outcome long before it is explicit in an announcement.
You've got me a bit interested in spite of myself, I love a 'bargain'. Will check out the latest.

Not Held

Likewise for me to finicky I am also a watcher and pondering, after that last announcement that pulled the rug from under STX.
As it is one of my picks for the yearly comp I would be more than happy to see a substantial rise in the SP.

 

[Miner]

Good evening,
No trading halt this time round .. put in place before se3 results but but but but STX management in the middle of the trading day decide results for se2 to come out ha ha ha ha ha ha ...

Not sure what is happening with well se2, now it too has problems. See attached. Not really that awe inspiring.

SP is now down about 55% since this time last month or thereabouts.
Rightly or wrongly did accumulate, 50 000 @ $0.215

@finicky @Miner
Query please:
Does anybody know for sure what this actually means (when read with Announcement dated 13/02/24 - attached)

Since the testing equipment departed SE-3, approximately 431 psi of well head pressure has been observed to have built up in the SE-3 well head (and is continuing to rise) indicating some form of a pressure response from the primary formation in that well.
rcw1 speculates that STX don't know what the problem is yet.


Kind regards
rcw1

@rcw1 - thanks but asking a oil and gas query to a miner is too much expectation. Could pass this question to my son who is an oiler in a large oil exploration but probably keep family out of it.
Sorry mate - could not help

 

[farmerge]

STX Strike Energy Though the last announcement has hit the SP like a lead sinker on the end of a fishing line, one bore hole that may or may not be a goer won't make STK a dud. Has tonnes of gas. Living in hope that the last announcement might be turned around to a positive. Though a 50% drop in the SP has upset the applecart for me for the time being.

 

[farmerge]

Had a quick buy and sell with STX this morning. Big enough profit to take the cook out for morning tea.

 

[rcw1]

Good morning
Not much about SE2 and SE3 wells in the correspondence published by the company today (28/02/24). Maybe they still don't know... wish they would admit that and what is being done to find out and estimated timings involved.. and what is anticipated that happened amongst other things ... and finally are they both duds!!! SP no doubt affected by all this ...

Am going to tap into the Webinar in 7 minutes time Gotta hear stuff from the horses mouth even though there would be a predetermined script, reckon..

Subsequent events In January, Strike announced that it had entered into a firm 100% take or pay gas sales agreement for a total of 3.4 PJ delivered into the Parmelia Gas Pipeline from Strike’s Walyering Project over ~2 years starting in February 2024.

Strike’s South Erregulla 2 and 3 wells were perforated for well testing post-balance date. At SE-2, Strike announced on 20 February 2024 that gas and formation water had been produced to surface with samples of both collected, and that Strike was looking to mobilise additional equipment to conduct further flow testing operations. At SE-3, after not achieving an initial flow, the well was shut-in and a steady increase in tubing head pressure and an associated temperature drop was subsequently observed, where bleed offs of pressure/ gas were detected as hydrocarbons. Subsequent testing observed fluid levels ~250m from the surface. Strike announced on 13 February 2024 that a possible gaswater contact had been encountered at its South Erregulla 3 well and that fluid and gas sample analysis would be conducted.

Strike further announced on 20 February 2024 that approximately 431 psi of well head pressure had been observed to have built up in the SE-3 well head and was continuing to rise, indicating some form of a pressure response from the primary formation in that well (P7 Strike Financial Report For the Half-Year Ended 31 December 2023).

 

[rcw1]

Low Salinity Anomalous Water contained within SE2 and SE3 wells... not originally identified at current levels and not identical to SE1 well formation ...

Gotta say that lad Stuart Nicholls, Managing Director STX is impressive. Have heard him speak previously. Todays performance only stands to confirm what rcw1 already new about the lad. Questions without notice were asked by shareholders.

But.. still the jury is out on the SE2 and 3 debacles. Need to have another listen to the Webinar recording.

All in, see what gives in the foreseeable future. They got gas and they got coin. 40 Million available inclusive of undrawn debt from Macquarie. Looks to be 15% STX securities have exchanged hands since the notifications ... No evidence yet of any takeover.

Have a very nice day.

Kind regards
rcw1
EDITS: finished off a sentence properly and HOLDING.

 

[rcw1]

...
Query please:
Does anybody know for sure what this actually means (when read with Announcement dated 13/02/24 - attached)

Since the testing equipment departed SE-3, approximately 431 psi of well head pressure has been observed to have built up in the SE-3 well head (and is continuing to rise) indicating some form of a pressure response from the primary formation in that well.

...

rcw1 emailed the STX Managing Director, Stuart Nicholls this afternoon (28/02/24) seeking some clarity on the aforementioned statement. A response was forthcoming pretty much straight away and is self-explanatory. The only changes to the email exchange is removal of rcw1 identifying particulars...


Hi rcw1,

At SE2 the reservoir had enough permeability and gas charge that the gas was lifting the water to surface (albeit in amounts that are nothing to be excited about).

As SE3 post displacement the well refilled with reservoir fluid but only to the point of hydrostatic pressure (i.e. about 200m below surface). Post shutting in the well, gas pressure was observed at the well head, similar to that of SE2, so likely that some of the reservoir started producing gas similar to that of SE2.

Hope that helps clarify things. A challenging period of time, but one I am sure we can overcome and restore our value.

Thanks for your support.

Stu



Stuart Nicholls

Managing Director & Chief Executive Officer

Phone: +61 432 587 808

Email: stuart.nicholls@strikeenergy.com.au

Level 1, 40 Kings Park Rd, West Perth

Western Australia 6005
ABN 59 078 012 745

From:@outlook.com>

Sent: Wednesday, February 28, 2024 2:48 PM
To: Stuart Nicholls <stuart.nicholls@strikeenergy.com.au>
Subject: Query re: SE3

Good afternoon Stuart

Thanks for the advice today (28/02/24) at the Webinar. Most professional and informative session.

I am seeking some further advice / clarification on what this statement (contained within 20 February 2024 announcement) actually means:

… approximately 431 psi of well head pressure has been observed to have built up in the SE-3 well head (and is continuing to rise) indicating some form of a pressure response from the primary formation in that well.

I did ask this question during the Webinar however was not answered.

Respectfully request favourable consideration for a response.


Yours Faithfully

STX Shareholder

 

[IvoryWolf]

***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

February 2024 - Sure enough, as noted in the last update on 30th January previously, the support level of $0.445 from the 19th December was well and truly broken at the end of the month of trading. The poor announcement midway through the month certainly didn't help, but the damage was well and truly done on the charts preceding that, especially with the declining 10 and 30 day moving averages.

Has this company's shareprice hit the low at $0.20 on the 20th February? Time will tell - keep watching the market reaction to the $0.21 support level established by the open on the 21st February.

 

[farmerge]

***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

February 2024 - Sure enough, as noted in the last update on 30th January previously, the support level of $0.445 from the 19th December was well and truly broken at the end of the month of trading. The poor announcement midway through the month certainly didn't help, but the damage was well and truly done on the charts preceding that, especially with the declining 10 and 30 day moving averages.

Has this company's shareprice hit the low at $0.20 on the 20th February? Time will tell - keep watching the market reaction to the $0.21 support level established by the open on the 21st February.

View attachment 171845

unfortunately STX is severely hurting my selections for the Yearly Comp. Dragged me into an abyss.

 

[Dona Ferentes]

unfortunately STX is severely hurting my selections for the Yearly Comp. Dragged me into an abyss.

knocked ivorywolf off the vertical, too

 

[IvoryWolf]

knocked ivorywolf off the vertical, too

All good @Dona Ferentes - not burned in real life though - a 50% reduction in share price would've been nasty - saved myself from that fate.

 

[rcw1]

Good evening,
some movement at the station ...

15 minute chart

Announcement 12/03/24 (see attached):
Walyering Production Update • Gas Transportation Agreement with APA executed to allow up to 10 TJ per day of sales gas to be delivered from the Parmelia Gas Pipeline into the Dampier to Bunbury Natural Gas Pipeline expected from late 2024. • ~95% of WA’s daily gas is sold and traded on the DBNGP which makes it a much larger, liquid and attractive market for Strike’s incremental sales. • The Walyering gas field exceeded its nameplate capacity on the 6th of February 2024, reaching 34 TJ/d and 265 bbls/d of condensate.

Have a very nice night.

Kind regards
rcw1

 

[farmerge]

Good evening,
some movement at the station ...

15 minute chart
View attachment 172758

Announcement 12/03/24 (see attached):
Walyering Production Update • Gas Transportation Agreement with APA executed to allow up to 10 TJ per day of sales gas to be delivered from the Parmelia Gas Pipeline into the Dampier to Bunbury Natural Gas Pipeline expected from late 2024. • ~95% of WA’s daily gas is sold and traded on the DBNGP which makes it a much larger, liquid and attractive market for Strike’s incremental sales. • The Walyering gas field exceeded its nameplate capacity on the 6th of February 2024, reaching 34 TJ/d and 265 bbls/d of condensate.

Have a very nice night.

Kind regards
rcw1

Keeping a watchful eye on STX.

 

[rcw1]

hmmmmmmm

 

[farmerge]

hmmmmmmm

View attachment 172798

One small step at a time Slowly climbing back up.

 

[rcw1]

hmmmmmmm

View attachment 172798

So a fortnight later... or there abouts back to $0.26.

Just a taste.

Holding

Happy Easter

Kind regards
rcw1

 

[debtfree]

I've copy/paste this for @farmerge as it was in the wrong thread.

STX Strike Energy
I took a gamble with STX as my No 4 pick in the yearly Competition.
All was going well until that announcement that the results were not what was hoped for.
STX has regained a bit of ground with it's SP finishing the month at 0.26c.
Still has a way to go, so maybe the next announcement will give it the 0.20c lift on it's SP to give a bit of positivity,
and perhaps give me 4 green.

 

[farmerge]

I've copy/paste this for @farmerge as it was in the wrong thread.

STX Strike Energy
I took a gamble with STX as my No 4 pick in the yearly Competition.
All was going well until that announcement that the results were not what was hoped for.
STX has regained a bit of ground with it's SP finishing the month at 0.26c.
Still has a way to go, so maybe the next announcement will give it the 0.20c lift on it's SP to give a bit of positivity,
and perhaps give me 4 green.

@debtfree Our wise and gracious one.
Thankyou.
Stuff-ups seem to be the way I am heading recently.
Must be extra work load of carting water twice a day !!!!!

 

[IvoryWolf]

***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

March 2024 - As noted in the previous monthly update on 29th February, the market reaction to the $0.21 support level established by the open on the 21st February appears to have been favourable, although this wasn't established until midway through the month, as shown in the chart below.

Watch to see now whether the former resistance of $0.25 from the open of 22nd February will act as support going forward...