Strike Energy Ltd
STX: XASX (AUS)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|>D | LOCK|<%F | LOCK|vs#@<fr |
Strike Energy: South Erregulla Reserve Recoupment in Support of Peaking Gas Plant Proposal
We make no change to our AUD 0.30 fair value estimate for no-moat Strike Energy. That’s despite the small Perth Basin hydrocarbon producer reporting positive developments since the disappointing South Errugulla drilling results in February 2024. We choose to wait for further progress before crediting recent apparent gains. Positives include encouraging Walyering 7 appraisal drilling and reinstatement of some reserves/resources at South Errugulla in support of a gas peaking plant proposal.
