- Strike Energy (STX) shares are up this morning after updating the market on its Western Australian projects
- The energy company has assets in the Perth Basin, which includes its joint venture project, West Erregulla
- Just last week, the company completed the drilling of its second hole at the West Erregulla 4 well to a final depth of 3906 metres
- Strike is expecting a final investment decision on West Erregulla by mid-2021
- The company is also advancing Project Haber, which is a development opportunity for a potential 1.4 million tonnes of urea fertiliser production facility
- On the market today, Strike is up 4.69 per cent and trading at 33.5 cents per share
Strike Energy (STX) shares are up this morning after updating the market on its Western Australian projects.
The energy company has exploration assets in the Perth Basin, which include the West Erregulla project approximately 230 kilometres northeast of Perth.
West Erregulla is a joint venture project with Warrego Energy (WGO) and both companies are developing the asset into a domestic gas supply operation. Strike and Warrego expect a final investment decision on West Erregulla, by mid-2021.
Just last week, the company completed the drilling of its second hole at the West Erregulla 4 well to a final depth of 3906 metres.
During the drilling, Strake says hydrocarbon shows similar to those found in the West Erregulla 2 well were observed.
Project Haber
Strike is also advancing Project Haber, which is a development opportunity for a urea fertiliser production facility that could produce 1.4 million tonnes per annum, situated near Geraldton, Western Australia.
The project will supply competitively priced fertiliser to Australia’s agricultural industries by processing Strike’s gas resources in the Perth Basin.
Strike says Project Haber could replace more than $1 billion of imports (10 per cent of which come from China) and generate some of the world’s first green fertiliser.
“Project Haber is an enabler to the Mid-West hydrogen vision and is supported by the 900 megawatts of local renewable energy,” the company said.
On the market today, Strike is up 4.69 per cent and trading at 33.5 cents per share at 11:32 am AEDT.