Strike Energy secures gas supply deal

Company News

Strike Energy Limited (ASX:STX) has inked a gas supply deal with Orora Limited (ASX:ORA), the recently demerged Australasian and packaging distribution division of Amcor.
 
Strike will produce the gas from its Southern Cooper Basin Gas Project at a fixed price over a 10 year term from 2017, when the project is expected to commence.
 
Managing Director David Wrench says the agreement is another milestone in the rapid commercialisation of its gas resource in the Southern Cooper Basin, following the successful appraisal drilling program completed in December.
 
He says Strike is well-positioned to play an important role in supplying gas to meet demand in Eastern Australia.
 
Strike Energy posted a net loss of $14.2 million in fiscal 2013.