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Strike Energy Limited (ASX:STX)

ALERT: Price-sensitive ASX Announcement for STX
Current share price for STX : $0.103 -0.018 (-14.58%)+
Announcement
Release
27 Aug 2025 8:50AM
Price at Release
$0.120
Full Release
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Summary
Strike Energy Limited has provided an update on its Ocean Hill project, located in the North Perth Basin, Western Australia. The company reviewed historical and current well data from Ocean Hill-1 and, using geological analogues from nearby fields, estimated a Best Estimate (2U) Prospective Resource of 360 Bcf of conventional gas (gross) in the Kingia and High Cliff Sandstones. The resource assessment adheres to industry standards and demonstrates the significant gas potential of the area. Strike, as the 100% owner and operator of permit EP495, is considering a future appraisal well to further delineate and potentially convert the prospective resources into contingent resources, strengthening its overall gas resource base in the region.
Key Points
  • Strike Energy Limited (Strike) has released an update regarding the Ocean Hill conventional gas resource.
  • Strike completed a review of the Ocean Hill-1 well and surrounding data to estimate the prospective gas resource.
  • The Ocean Hill-1 well, located in permit EP495 in the North Perth Basin, Western Australia, encountered significant gas shows in the Kingia and High Cliff Sandstones.
  • Strike estimates a Best Estimate (2U) Prospective Resource of 360 Bcf of conventional gas (gross) in the Kingia and High Cliff Sandstones at Ocean Hill.
  • The resource evaluation was based on wireline logs, pressure data, and geological analogues from the nearby and successful Waitsia, West Erregulla, and South Erregulla fields.
  • Strike is the operator and 100% owner of the Ocean Hill permit EP495.
  • The Kingia and High Cliff Sandstones are interpreted as high-quality reservoirs with the potential for significant gas accumulations.
  • A future appraisal well at Ocean Hill is being considered to confirm and potentially book a contingent resource.
  • The resource assessment is compliant with the SPE-PRMS standards and definitions.
  • Strike continues to advance its exploration program in the North Perth Basin focused on building a significant gas resource base.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.