Strike Energy up on Western Australia gas field reaching 'payback' milestone

Strike Energy

28/05/2024 04:23

** Shares of Australian oil and gas explorer Strike Energy
 STX.AX  rises as much as 9.8% to A$0.225, marking their biggest
intraday pct jump since April 29
    ** STX top gainer in the ASX 200 benchmark index  .AXJO ;
touches its highest level since May 17
    ** Trading 7.3% higher at A$0.220 as at 0250 GMT
    ** Says Walyering gas field in Western Australia has reached
'payback' of its total development capital spend of ~A$30 mln
($20.00 mln) only 8 months after it came online
    ** Adds total gross income received to date from Walyering
project is ~A$47 mln
    ** STX down 57.3% this year as of last close


($1 = 1.4997 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))