Strike (ASX:STX) secured $8 million R&D ATO refund

Company News

by Katrina Bullock

Oil and gas explorer, Strike Energy (ASX:STX) has received $8 million in deferred Research and Development refunds.

In late August Strike settled its R&D matters with Innovation & Science Australia.

Following settlement the Australian Tax Office completed the processing of the Company’s FY16, FY18 and FY19 amended income tax returns.

It expects a further R&D refund for its work in the Cooper Basin during FY20.

Shares in Strike Energy (ASX:STX) closed 1.75 per cent lower to $0.28 yesterday.