Company Interview / Strike-ing a renewed path to growth

Strike Energy (ASX: STX) faces a significant transition following a major gas reserve downgrade, but MD & CEO Peter Stokes maintains that the company is well-positioned for future growth. Stokes points to the compartmentalised nature of the Perth Basin’s gas reserves as a key challenge, but says consistent production continues from the Walyering West well.

Stokes says the company has secured sufficient cash through a Carnarvon Energy (ASX: CVN) placement to progress a range of projects, including final investment decisions on West Erregulla and facility works at South Erregulla, as well as the upcoming drilling at Ocean Hill—expected before mid-2025. Stokes addresses recent asset writedowns, clarifying these are non-cash and within recently guided ranges.

Looking ahead, Stokes says the importance of ongoing gas supply to complement renewables and confirms that delivering on project milestones is expected to drive future shareholder value through share price uplift.

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