Strike Energy Achieves Strong Flow Rates from Western Australian Well; Shares Up 8%

MT Newswires Live10-21

Strike Energy (ASX:STX) completed its flow testing program at the Erregulla Deep-1 discovery well in exploration permit 469 (EP469), achieving strong flow rates and one of the highest flowing pressures in the Perth Basin in Western Australia, according to a Monday filing with the Australian Securities Exchange.

The well will be suspended as a future producer and testing equipment will be demobilized from the site, the filing said.

Strike Energy is the operator of EP469 holding a 50% stake, with Warrego Energy 469 owning the other half, according to the filing.

Strike Energy shares rose 8% in midday trade on Monday.

Price (AUD): $0.23, Change: $+0.02, Percent Change: +8.09%

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