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Strike Energy Limited (ASX:STX)

ALERT: Price-sensitive ASX Announcement for STX
Current share price for STX : $0.099 -0.021 (-17.50%)+
Announcement
Release
23 Sep 2026 8:30AM
Price at Release
$0.120
Full Release
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Summary
Strike Energy Limited’s FY26 Full Year Results announcement outlines a year of portfolio advancement as the company moved toward a broader and more diversified earnings base. Key developments included substantial progress on construction and commissioning of the 85 MW South Erregulla Peaking Power Project, with commercial operations targeted in Q4 CY26; a roughly 20% increase in West Erregulla net 2P Reserves to 251 PJ following an independently audited review; and, after year end, selection of Hancock Energy’s Belisama Gas Processing Facility as the preferred processing solution for West Erregulla, targeting 43.5 TJ/d net to Strike and providing a pathway toward FID. The company also reported ongoing production and appraisal success at Walyering, supporting increased 2P Reserves after FY26 production. Financially, FY26 sales revenue was $62.8 million, net cash inflow from operating activities was $6.4 million, underlying EBITDA was $17.6 million, cash and cash equivalents were $46.3 million at 30 June 2026, and the statutory loss for the year was $27.2 million. Post year end, Strike added funding flexibility through $30 million of committed Macquarie Bank financing capacity and agreed in-principle up to $30 million of pre-FID funding support from Hancock Energy for West Erregulla, while leadership changes saw Shelley Robertson become Managing Director and CEO on 1 June 2026 and Nev Power become Chair on 1 July 2026.
Key Points
  • FY26 Full Year Results were announced by Strike Energy Limited on 23 September 2026.
  • Construction and commissioning of the 85 MW South Erregulla Peaking Power Project advanced substantially during FY26, with commercial operations targeted in Q4 CY26.
  • West Erregulla net 2P Reserves increased by approximately 20% to 251 PJ following an independently audited reserves and resources review.
  • After year end, Strike selected Hancock Energy’s Belisama Gas Processing Facility as the preferred processing solution for West Erregulla, targeting 43.5 TJ/d net processing capacity and supporting a pathway to FID.
  • Walyering continued producing gas and condensate during FY26, and the Walyering West-1 drilling and testing program supported an increase in Walyering 2P Reserves after production.
  • FY26 sales revenue was $62.8 million compared with $72.7 million in FY25.
  • Net cash inflows from operating activities were $6.4 million compared with $42.6 million in FY25.
  • Underlying EBITDA was $17.6 million compared with $41.6 million in FY25.
  • Cash and cash equivalents at 30 June 2026 were $46.3 million, up from $41.1 million at 30 June 2025.
  • The statutory loss for the year was $27.2 million, compared with a loss of $157.3 million in FY25.
  • Post year end, Strike gained access to $30 million of committed financing capacity from Macquarie Bank Limited.
  • Strike and Hancock Energy agreed in principle up to $30 million of pre-FID funding support via loan for West Erregulla development activities through to FID.
  • Management stated FY27 priorities are to deliver South Erregulla into commercial operations, progress West Erregulla toward FID and maintain Walyering operational performance.
  • Shelley Robertson was appointed Managing Director and CEO from 1 June 2026 and Nev Power was appointed Chair from 1 July 2026.
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.