Strike Energy is an independent oil and gas exploration and production company founded in 1997 and listed on the Australian Stock Exchange in 2004 (ASX: STX). The Company is based in Sydney, Australia.
The Company’s primary focus is the rapid commercialisation of the large scale gas resource located within its Southern Cooper Basin Gas Project. We believe the successful development of this resource to supply the Australian East Coast Gas markets will deliver significant value to the Company’s shareholders and Eastern Australian gas users.
Strike has exploration permits and applications over approximately 2.3 million net acres (approx 9,232 km2) within the Cooper Basin. The Cooper Basin is Australia’s most prolific onshore oil and gas region and is now recognised globally for its untapped gas potential. Following a successful initial appraisal program in our Southern Cooper Basin Gas Project in 2013, the Company continues to focus on the rapid commercialisation of the large prospective gas resource (mean estimate 4.5 Tcf) in our operated (PEL 96) permit. To assist in funding the commercialisation process, Strike has entered into a small number of innovative gas off-take agreements with domestic consumers which provide both risk-capital and market for a portion of the Company’s gas resource.