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@embryo Just took notice that you joined in 2010. Where have you been hiding in the past few years?
STX - Strike Energy
- Thread starter markor
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- strike energy strike oil stx
Good morning
STX announcement, more gas!!! apparently ... (see attached)
Of note:
- Logging and evaluation of the Walyering East-1 exploration well has been completed with independent petrophysical assessment indicating a potential gas discovery in the Cattamarra Formation made up of 13.4m of net gas pay with maximum porosities of 16% and pressures of 4,953 psi ; and
- Walyering East-1 has been cased and is being prepared for production testing.
STX has done well for rcw1 - milked like a cow ha ha ha ha
Since the SP drop earlier this year (as flagged in the thread) been heavy going with some swing trades ... rcw1 is a STX believer, there is gas, there is a market and there is so much promise. rcw1 opinion, so be best you conduct your own due diligence.
All the very best in 2025, may you all slay the stock market (s) and make millions of dollars... Happy New Year
EDIT: now attached
Kind regards
rcw1
% on the 100% owned!!!YES haven't sold any
rcw1 hasn't either, strapped in for the ride ha ha ha ha
Nice to see some positive share price movement today (08/01/25) ... @embryo ,breaking on through some resistance... interesting to see what the sp will get to...
3 minute chart
Have a very nice day today.
Holding
Kind regards
rcw1
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@rcw1 and @embryo i lost faith/interest in STX when it plummeted from around the 40c level to the current one. Sold out and cried over the loss, but then invested into another dog of a share WHK, though there is also some movement around the campfire with this mob today also.rcw1 hasn't either, strapped in for the ride ha ha ha ha
Nice to see some positive share price movement today (08/01/25) ... @embryo ,breaking on through some resistance... interesting to see what the sp will get to...
3 minute chart
View attachment 190704
Have a very nice day today.
Holding
Kind regards
rcw1
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yes m8, it is noted... never mind...
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@rcw1 STX is still on my Watchlist, but Isn't generating much interest for at present.
I have a bit of coin available if there is a serious movement down the track.
the goog believes 2025 will be STX's year ... ha ha ha ha ha
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@rcw1 I am still watching with a finger forever ready if needed on the buy button.
the fly apparently believes ready to explode outta the blocks with more gas ... yeah yeah yeah ha ha ha ha... rcw1 has said it before... luv to be fly on the wall in the board room to hear exactly what was said and by whommmmmmmmmmmmmmm Anyways, enough said, see what happens then bloke...
Have a good day m8
kind regards
rcw1
Perth Basin gas player unveils strategic review
Strike Energy and managing director Stuart Nicholls are parting ways as the company considers the future of its gas assets in the Perth Basin.Brad Thompson
January 17, 2025 - 5:00AM
The Australian Business Network.
Strike Energy and its managing director Stuart Nicholls are parting ways as the company embarks on a strategic review that could result in the sale of some of its onshore gas assets in the Perth Basin. The Strike board, led by John Poynton, believes the stock is undervalued and said the strategic review would look at a range of ownership and funding options.
Strike shares were trading around 46c this time last year but plunged after disappointing well testing at one of its key projects. The stock was down about 2 per cent to 21c in trading on Thursday.
Mr Nicholls led Strike for nearly eight years, including during a bidding war for Warrego Energy won by Gina Rinehart’s Hancock Energy that also involved billionaires Chris Ellison, through Mineral Resources, and Kerry Stokes, through Beach Energy.
The Warrego takeover tussle ended in 2023 with Hancock and Strike becoming partners is the West Erregulla gas project, which Mr Poynton said Strike remained keen to develop. Mrs Rinehart has since increased her footprint in the Perth Basin through the $1.13bn acquisition of assets from Ellison-led MinRes.
Mr Nicholls resigned from the board with immediate effect on Thursday, with his time as chief executive due to end on February 14. He said it was the right time to stand aside and hand the baton to a new chief executive with “refreshed energy to guide the company through its next stage of development and growth, which should see further significant shareholder value creation”. Mr Nicholls’ time in charge was marked by the acquisition of assets in the Perth Basin, gas discoveries and diversification into integrated peaking gas power. More than $300m was wiped from the company’s valuation last February on the back of failed appraisal testing at its South Erregulla gas field and the stock has not recovered.
Mr Poynton said the company was in good shape to develop its strategic gas and power projects in the Perth Basin. Strike opted in November to build a fully integrated peaking gas power station at South Erregulla and allocated $137m to the project. The move came after it ditched earlier plans for a $3bn fertiliser plant as part of a strategy to add value to gas rather than simply selling most of it into the domestic market.
The West Australian government eased its gas reservation policy last year, saying it would allow onshore producers like Strike a six-year window to sell 20 per cent of their gas to more lucrative LNG export markets.
Strike has appointed Jill Hoffmann, who was a non-executive director, as acting chief executive. Strike deputy chairman Nev Power will help with the strategic review.
rcw1 comment - Not entirely sure what favourable outcomes this will bring, moreover who the company has in mind to take over.... and whether that person will have sufficient 'sway' to undertake any needed change. Personally, something had to eventuate, whether Nicholls falling on his sword is the answer, dunno, but Nicholl certainly wasn't able to bring about any favourable change, past 12 months. Again shareholders will have to wait and see with bated breath!!
@mullokintyre fyi bloke. Is a rcw1 stock in the Annual competition.
Have a very nice weekend
edit stx announcement now attached
Kind regards
rcw1
Strike Energy and managing director Stuart Nicholls are parting ways as the company considers the future of its gas assets in the Perth Basin.Brad Thompson
January 17, 2025 - 5:00AM
The Australian Business Network.
Strike Energy and its managing director Stuart Nicholls are parting ways as the company embarks on a strategic review that could result in the sale of some of its onshore gas assets in the Perth Basin. The Strike board, led by John Poynton, believes the stock is undervalued and said the strategic review would look at a range of ownership and funding options.
Strike shares were trading around 46c this time last year but plunged after disappointing well testing at one of its key projects. The stock was down about 2 per cent to 21c in trading on Thursday.
Mr Nicholls led Strike for nearly eight years, including during a bidding war for Warrego Energy won by Gina Rinehart’s Hancock Energy that also involved billionaires Chris Ellison, through Mineral Resources, and Kerry Stokes, through Beach Energy.
The Warrego takeover tussle ended in 2023 with Hancock and Strike becoming partners is the West Erregulla gas project, which Mr Poynton said Strike remained keen to develop. Mrs Rinehart has since increased her footprint in the Perth Basin through the $1.13bn acquisition of assets from Ellison-led MinRes.
Mr Nicholls resigned from the board with immediate effect on Thursday, with his time as chief executive due to end on February 14. He said it was the right time to stand aside and hand the baton to a new chief executive with “refreshed energy to guide the company through its next stage of development and growth, which should see further significant shareholder value creation”. Mr Nicholls’ time in charge was marked by the acquisition of assets in the Perth Basin, gas discoveries and diversification into integrated peaking gas power. More than $300m was wiped from the company’s valuation last February on the back of failed appraisal testing at its South Erregulla gas field and the stock has not recovered.
Mr Poynton said the company was in good shape to develop its strategic gas and power projects in the Perth Basin. Strike opted in November to build a fully integrated peaking gas power station at South Erregulla and allocated $137m to the project. The move came after it ditched earlier plans for a $3bn fertiliser plant as part of a strategy to add value to gas rather than simply selling most of it into the domestic market.
The West Australian government eased its gas reservation policy last year, saying it would allow onshore producers like Strike a six-year window to sell 20 per cent of their gas to more lucrative LNG export markets.
Strike has appointed Jill Hoffmann, who was a non-executive director, as acting chief executive. Strike deputy chairman Nev Power will help with the strategic review.
rcw1 comment - Not entirely sure what favourable outcomes this will bring, moreover who the company has in mind to take over.... and whether that person will have sufficient 'sway' to undertake any needed change. Personally, something had to eventuate, whether Nicholls falling on his sword is the answer, dunno, but Nicholl certainly wasn't able to bring about any favourable change, past 12 months. Again shareholders will have to wait and see with bated breath!!
@mullokintyre fyi bloke. Is a rcw1 stock in the Annual competition.
Have a very nice weekend
edit stx announcement now attached
Kind regards
rcw1
One Minute
Didn't sell any shares
Still holding a &hit load ...
Only change being big Stuey got the arse... Air in the sails subsiding ....
We will see very shortly...
Have a very nice day, whats left of it
EDIT: delete duplication.
Kind regards
rcw1
Didn't sell any shares
Still holding a &hit load ...
Only change being big Stuey got the arse... Air in the sails subsiding ....
We will see very shortly...
Have a very nice day, whats left of it
EDIT: delete duplication.
Kind regards
rcw1
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Started to get excited and proceed to push the buy button, but decided to reinvest into CHN for the time being.One Minute
View attachment 191761
Didn't sell any shares
Still holding a &hit load ...
Only change being big Stuey got the arse... Air in the sails subsiding ....
We will see very shortly...
Have a very nice day, whats left of it
EDIT: delete duplication.
Kind regards
rcw1
Closely watching though.
