Australia's Strike Energy eyes best day in over 18 months on finding better-quality gas

Talon Energy

06/12/2021 01:39

** Shares of energy and fertiliser co Strike Energy  STX.AX 
rise as much as 20% to A$0.180, set for their best session since
May 21, 2020
    ** Co says Walyering-5 (W5) well has confirmed presence of
high-quality, low-carbon dioxide, conventional gas accumulation
at suspended Walyering gas field within Perth Basin  urn:newsml:reuters.com:*:nASX440YJm
    ** Says results have exceeded co's pre-drill expectations
with thicker and better-quality gas charged sands being found
across several reservoirs
    ** Adds it will now work with its partner Talon Energy
 TPD.AX  to put together a plan for the project's development
    ** Shares hit their highest since Nov. 17
    ** Volumes are 1.5 times the 30-day average of 5.2 mln
shares
    ** As of last close, stock down 47.4% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))