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Lets hope so rcw would like to see the SP climb substantially.
STX - Strike Energy
- Thread starter markor
- Start date
-
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- strike energy strike oil stx
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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****
August 2024 - Following up on the previous monthly update at the end of July, this stock continues to provide more heartburn rather than gas for shareholders. Or could the fortunes be changing? The company was placed in a trading halt at the eleventh hour, right at the end of the month, with an announcement due at the beginning of next week in relation to one of it's explorations (Erregulla Deep-1) - shareholders await with bated breath, but one thing is evident - the share price needs to break through the dreaded price barrier of $0.205 that is the resistance above (see chart below). Should this resistance area continue to be problematic, as discussed in the previous update, the prior level of support that was reached last week ($0.16/$0.165) will most likely be the 'status quo' since shareholders will see the "writing on the wall" in the face of relentless selling from shareholders trying to break-even or minimise losses.
August 2024 - Following up on the previous monthly update at the end of July, this stock continues to provide more heartburn rather than gas for shareholders. Or could the fortunes be changing? The company was placed in a trading halt at the eleventh hour, right at the end of the month, with an announcement due at the beginning of next week in relation to one of it's explorations (Erregulla Deep-1) - shareholders await with bated breath, but one thing is evident - the share price needs to break through the dreaded price barrier of $0.205 that is the resistance above (see chart below). Should this resistance area continue to be problematic, as discussed in the previous update, the prior level of support that was reached last week ($0.16/$0.165) will most likely be the 'status quo' since shareholders will see the "writing on the wall" in the face of relentless selling from shareholders trying to break-even or minimise losses.
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STX started as the golden goose with a clutch of golden eggs or appeared as so.
Unless the forthcoming announcement is a ripper in the affirmative, then unfortunately I see STX sliding down one of its exploration holes.
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@rcw1 well if it's gas then money, money, money.Good evening
For mine
25% chance water; and
75% chance gas. …
Proof in the pudding tomorrow
Kind regards
rcw
Announcement published …
Looking forward to market response …
Strike’s Managing Director and Chief Executive Officer Stuart Nicholls said:
“The discoveries at Erregulla Deep are higher quality than Strike anticipated prior to drilling, with reservoir quality, formation pressures and lower CO2 content all exceeding expectations relative to the West Erregulla wells.
The Erregulla Deep-1 well is the most easterly and deepest penetration of the Kingia-High Cliff
Sandstones in the basin to date and is a significant play extender to the East and at depth for
Strike’s 100% acreage.
Highly significant gas discoveries
at Erregulla Deep-1
• Two high quality, low impurity conventional gas discoveries made in the Erregulla
Deep-1 exploration well with an aggregate 28m of net gas pay at depths never
encountered in the Perth Basin. The discoveries include:
o 26m of net gas pay within the Kingia Sandstone with an average porosity of
13%, reservoir pressures of ~7,623 psia; and
o 2m of net gas pay within the High Cliff Sandstone with an average porosity of
11%, reservoir pressures of ~7,807 psia.
• Multiple gas samples have been acquired in both discoveries and have confirmed
good permeabilities, gas gradients and materially lower CO2 contents than
observed at West Erregulla.
• A further zone of over pressured high prospectivity was encountered from 4m of
net gas pay within the Irwin River Coal Measures with porosities up to 10% and
reservoir pressures of ~8,399 psia.
• The Erregulla Deep-1 well was drilled to 5,225m (MD) making it the deepest well
ever drilled onshore Australia.
• The Erregulla Deep-1 well extends the Permian gas play to the East where Strike
has a commanding 100% owned acreage position in EP503, 504 and 505.
Kind regards
rcw1
Looking forward to market response …
Strike’s Managing Director and Chief Executive Officer Stuart Nicholls said:
“The discoveries at Erregulla Deep are higher quality than Strike anticipated prior to drilling, with reservoir quality, formation pressures and lower CO2 content all exceeding expectations relative to the West Erregulla wells.
The Erregulla Deep-1 well is the most easterly and deepest penetration of the Kingia-High Cliff
Sandstones in the basin to date and is a significant play extender to the East and at depth for
Strike’s 100% acreage.
Highly significant gas discoveries
at Erregulla Deep-1
• Two high quality, low impurity conventional gas discoveries made in the Erregulla
Deep-1 exploration well with an aggregate 28m of net gas pay at depths never
encountered in the Perth Basin. The discoveries include:
o 26m of net gas pay within the Kingia Sandstone with an average porosity of
13%, reservoir pressures of ~7,623 psia; and
o 2m of net gas pay within the High Cliff Sandstone with an average porosity of
11%, reservoir pressures of ~7,807 psia.
• Multiple gas samples have been acquired in both discoveries and have confirmed
good permeabilities, gas gradients and materially lower CO2 contents than
observed at West Erregulla.
• A further zone of over pressured high prospectivity was encountered from 4m of
net gas pay within the Irwin River Coal Measures with porosities up to 10% and
reservoir pressures of ~8,399 psia.
• The Erregulla Deep-1 well was drilled to 5,225m (MD) making it the deepest well
ever drilled onshore Australia.
• The Erregulla Deep-1 well extends the Permian gas play to the East where Strike
has a commanding 100% owned acreage position in EP503, 504 and 505.
Kind regards
rcw1
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Baby steps of course, but movement
5 minute chart
Might have something to do with this announcement today (19/09/24):
Summary being:
WA’s Domestic Policy update delivers positive outcomes supporting the investment climate for gas projects in Western Australia.
Holding *hit loads...
Have a very nice day today
Kind regards
rcw
Might have something to do with this announcement today (19/09/24):
Summary being:
WA’s Domestic Policy update delivers positive outcomes supporting the investment climate for gas projects in Western Australia.
- Export ban has today been lifted and Strike will now be able to export natural gas from its Perth Basin assets, limited to 20% of total production until end 2030
Holding *hit loads...
Have a very nice day today
Kind regards
rcw
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Looks like someone's heart monitor gone astray.
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STX Strike Energy.
Has turned into the original anchor and dragged my selections into the nether regions.
Promiss so much, and I guess with time those promises may come to fruition.
Certainly having second thoughts about this stock.
50/50 each bet on a hold.
Has turned into the original anchor and dragged my selections into the nether regions.
Promiss so much, and I guess with time those promises may come to fruition.
Certainly having second thoughts about this stock.
50/50 each bet on a hold.
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@rcw1 "when the boat comes in" you will be able to buy the local race course
Race course S
ha ha ha ha
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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****
September 2024 - Following up on the previous monthly update at the end of August, initial reaction to the announcement regarding the Erregulla Deep-1 exploration was not terrific, with the share price respecting the resistance level price barrier of $0.205 noted last month to the downside before finally finding it's feet and stabilising itself above the price barrier towards the end of the month (noting that we have one business day left in September, as well as an upcoming earnings / quarterly report due out at the time of writing this summary).
Overall, a similar conclusion to last month, but a little more upbeat for shareholders this time around. Will the closest support/resistance level of $0.205 hold after the earnings / quarterly report and, if not, will the prior level of support previously established ($0.16/$0.165) hold as the ultimate 'line in the sand' under the worst case scenario? Should local support hold here and momentum continue, it is quite possible that a test of prior resistance at $0.25 could be the next target in the short-term.
September 2024 - Following up on the previous monthly update at the end of August, initial reaction to the announcement regarding the Erregulla Deep-1 exploration was not terrific, with the share price respecting the resistance level price barrier of $0.205 noted last month to the downside before finally finding it's feet and stabilising itself above the price barrier towards the end of the month (noting that we have one business day left in September, as well as an upcoming earnings / quarterly report due out at the time of writing this summary).
Overall, a similar conclusion to last month, but a little more upbeat for shareholders this time around. Will the closest support/resistance level of $0.205 hold after the earnings / quarterly report and, if not, will the prior level of support previously established ($0.16/$0.165) hold as the ultimate 'line in the sand' under the worst case scenario? Should local support hold here and momentum continue, it is quite possible that a test of prior resistance at $0.25 could be the next target in the short-term.
Good morning STX believers
Couple of announcements today (01/10/24) before open ...
Erregulla Deep-1 Flowtest Commences
• The Erregulla Deep-1 (ED1) discovery well has commenced its flow testing program with very high-pressure gas flows initiated to surface; and
• ED1 is currently conducting a clean-up flow before continuing with the remainder of the testing program.
South Erregulla Power Project Receives Full Network Access Quantity
- Strike has been awarded the full 85 MW of Certified Reserve Capacity Credits and its requested Network Access Quantity by AEMO for its proposed South Erregulla peaking gas power station in WA;
- AEMO has published the 2026-year capacity price of $216,092 per MW per annum, which is at the higher end of Strike’s forecast; and
- These awards and confirmation of price are further significant de-risking events as the project proceeds towards its Final Investment Decision.
rcw1
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Was SL earlier in the week..was too tight lesson..
