New posts

Reply to thread

Message

Good afternoon

Quarterly published 24/10/24, highlighting the following:
Walyering
• quarterly gas and condensate sales volumes increased by 2% to 2.4 PJe with sales revenues of approximately $18.3 million.
• The flow testing program at Walyering-7 into the Walyering production facility was completed, confirming the discovery with a maximum recorded gas rate of 14 TJ/d and liquid rate of 900 bbls/d of condensate.

South Erregulla
• Strike was 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 published the 2026/27 year capacity price of $216,092 per MW per annum, which was at the higher end of Strike’s forecast.
• Strike entered into a $48.5 million contract with Clarke Energy to procure twenty (20) 4.5 MW Jenbacher gas reciprocating engines and commissioning services for the proposed peaking gas power plant. The fixed price contract was in line with Strike’s mid-case capital estimates.

West Erregulla
• DEMIRS issued Production licence L25 to the West Erregulla JV.
• Two high quality, low impurity conventional gas discoveries were made in the Erregulla Deep1 exploration well at depths never encountered in the Perth Basin. On flow test the ED1 well flowed exceptionally from the Kingia formation at a constrained, stabilised rate of 53 mmscfd with a FTHP of 5,515 psi on a 46/64” choke, confirming a high deliverability and low impurity gas accumulation. ED1 has one of the highest ever recorded flowing pressures from Perth Basin wells.

WA Domestic Gas Policy
• WA’s Domestic Gas Policy update delivered a positive outcome supporting the relaxation of the export ban. Strike will now be able to export 20% of its natural gas production from its Perth Basin assets until the end of 2030.

Corporate
• Facility documentation progressed with Macquarie Bank for the provision of the 5-year, $153 million financing package1 for its Perth Basin Gas Acceleration Strategy.

SP has failed to embrace this report.

Going through to read the 27-page report in its entirety the following passage revealed why shareholders have not fully responded in kind to the report:

*Total sales revenue was down 8% q-o-q. Lower revenues were primarily a result of FX effects (Santos gas contract being denominated in USD) and oil price (also denominated in USD).
*Gas sales revenues for the quarter were ~$16.2 million (~8% decrease q-o-q due to the above). *Averaged realised gas prices were ~$7.02 GJ (down 10% q-o-q). Condensate liftings and sales from Port Bonython totalled ~$2.04 million (down 6% q-o-q) and averaged ~$121/bbl (13% down q-o-q).

Overall STX financial position is sound.
Liquidity position of ~$62 million (~$45 million of cash and~$17 million of committed undrawn debt).

It was reported that Strike is now moving into a period where discretionary capital on exploration activities will slow as it focuses its balance sheet and free cash flow generation on its proposed two major construction projects at the West Erregulla gas field development and the South Erregulla peaking gas power station project.

Scheduled repayment of Strike’s existing Macquarie facility during the quarter was deferred pending finalisation of the transaction documentation for the $153 million financing package. Drawn debt that will be financed by this facility at the end of the quarter was $36.3 million.

rcw1 tapped into the Webinar on Thursday to have a listen to STX quarterly report card. No surprises.

Holding *hit loads

Kind regards
rcw1

<blockquote data-quote="rcw1" data-source="post: 1301821" data-attributes="member: 86427">Good afternoonQuarterly published 24/10/24, highlighting the following:Walyering • quarterly gas and condensate sales volumes increased by 2% to 2.4 PJe with sales revenues of approximately $18.3 million. • The flow testing program at Walyering-7 into the Walyering production facility was completed, confirming the discovery with a maximum recorded gas rate of 14 TJ/d and liquid rate of 900 bbls/d of condensate. South Erregulla • Strike was 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.&nbsp; • AEMO published the 2026/27 year capacity price of $216,092 per MW per annum, which was at the higher end of Strike’s forecast.• Strike entered into a $48.5 million contract with Clarke Energy to procure twenty (20) 4.5 MW Jenbacher gas reciprocating engines and commissioning services for the proposed peaking gas power plant. The fixed price contract was in line with Strike’s mid-case capital estimates.West Erregulla • DEMIRS issued Production licence L25 to the West Erregulla JV. • Two high quality, low impurity conventional gas discoveries were made in the Erregulla Deep1 exploration well at depths never encountered in the Perth Basin. On flow test the ED1 well flowed exceptionally from the Kingia formation at a constrained, stabilised rate of 53 mmscfd with a FTHP of 5,515 psi on a 46/64” choke, confirming a high deliverability and low impurity gas accumulation. ED1 has one of the highest ever recorded flowing pressures from Perth Basin wells.&nbsp; WA Domestic Gas Policy • WA’s Domestic Gas Policy update delivered a positive outcome supporting the relaxation of the export ban. Strike will now be able to export 20% of its natural gas production from its Perth Basin assets until the end of 2030. Corporate • Facility documentation progressed with Macquarie Bank for the provision of the 5-year, $153 million financing package1 for its Perth Basin Gas Acceleration Strategy.SP has failed to embrace this report.Going through to read the 27-page report in its entirety the following passage revealed why shareholders have not fully responded in kind to the report: *Total sales revenue was down 8% q-o-q. Lower revenues were primarily a result of FX effects (Santos gas contract being denominated in USD) and oil price (also denominated in USD). *Gas sales revenues for the quarter were ~$16.2 million (~8% decrease q-o-q due to the above). *Averaged realised gas prices were ~$7.02 GJ (down 10% q-o-q). Condensate liftings and sales from Port Bonython totalled ~$2.04 million (down 6% q-o-q) and averaged ~$121/bbl (13% down q-o-q).Overall STX financial position is sound.Liquidity position of ~$62 million (~$45 million of cash and~$17 million of committed undrawn debt). It was reported that Strike is now moving into a period where discretionary capital on exploration activities will slow as it focuses its balance sheet and free cash flow generation on its proposed two major construction projects at the West Erregulla gas field development and the South Erregulla peaking gas power station project. Scheduled repayment of Strike’s existing Macquarie facility during the quarter was deferred pending finalisation of the transaction documentation for the $153 million financing package.&nbsp; Drawn debt that will be financed by this facility at the end of the quarter was $36.3 million.rcw1 tapped into the Webinar on Thursday to have a listen to STX quarterly report card. No surprises.Holding *hit loadsKind regardsrcw1</blockquote>

[QUOTE="rcw1, post: 1301821, member: 86427"] Good afternoon Quarterly published 24/10/24, highlighting the following: [B]Walyering[/B] • quarterly gas and condensate sales volumes increased by 2% to 2.4 PJe with sales revenues of approximately $18.3 million. • The flow testing program at Walyering-7 into the Walyering production facility was completed, confirming the discovery with a maximum recorded gas rate of 14 TJ/d and liquid rate of 900 bbls/d of condensate. [B]South Erregulla[/B] • Strike was 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 published the 2026/27 year capacity price of $216,092 per MW per annum, which was at the higher end of Strike’s forecast. • Strike entered into a $48.5 million contract with Clarke Energy to procure twenty (20) 4.5 MW Jenbacher gas reciprocating engines and commissioning services for the proposed peaking gas power plant. The fixed price contract was in line with Strike’s mid-case capital estimates. [B]West Erregulla[/B] • DEMIRS issued Production licence L25 to the West Erregulla JV. • Two high quality, low impurity conventional gas discoveries were made in the Erregulla Deep1 exploration well at depths never encountered in the Perth Basin. On flow test the ED1 well flowed exceptionally from the Kingia formation at a constrained, stabilised rate of 53 mmscfd with a FTHP of 5,515 psi on a 46/64” choke, confirming a high deliverability and low impurity gas accumulation. ED1 has one of the highest ever recorded flowing pressures from Perth Basin wells. [B]WA Domestic Gas Policy[/B] • WA’s Domestic Gas Policy update delivered a positive outcome supporting the relaxation of the export ban. Strike will now be able to export 20% of its natural gas production from its Perth Basin assets until the end of 2030. [B]Corporate[/B] • Facility documentation progressed with Macquarie Bank for the provision of the 5-year, $153 million financing package1 for its Perth Basin Gas Acceleration Strategy. SP has failed to embrace this report. Going through to read the 27-page report in its entirety the following passage revealed why shareholders have not fully responded in kind to the report: *Total sales revenue was down 8% q-o-q. Lower revenues were primarily a result of FX effects (Santos gas contract being denominated in USD) and oil price (also denominated in USD). *Gas sales revenues for the quarter were ~$16.2 million (~8% decrease q-o-q due to the above). *Averaged realised gas prices were ~$7.02 GJ (down 10% q-o-q). Condensate liftings and sales from Port Bonython totalled ~$2.04 million (down 6% q-o-q) and averaged ~$121/bbl (13% down q-o-q). [B]Overall STX financial position is sound.[/B] Liquidity position of ~$62 million (~$45 million of cash and~$17 million of committed undrawn debt). It was reported that Strike is now moving into a period where discretionary capital on exploration activities will slow as it focuses its balance sheet and free cash flow generation on its proposed two major construction projects at the West Erregulla gas field development and the South Erregulla peaking gas power station project. Scheduled repayment of Strike’s existing Macquarie facility during the quarter was deferred pending finalisation of the transaction documentation for the $153 million financing package. Drawn debt that will be financed by this facility at the end of the quarter was $36.3 million. rcw1 tapped into the Webinar on Thursday to have a listen to STX quarterly report card. No surprises. Holding *hit loads Kind regards rcw1 [/QUOTE]

Verification