Time To Revisit Strike Energy (STX AU)

• Strike Energy (STX AU)‘s transition from a pure explorer to an upstream gas producer hasn’t exactly gone to plan.

• Strike started pumping & selling gas from its Perth-basin Walyering project in September 2023; and green lit a gas-fired peaking power plant in November 2024.

• The share price is now at a six-year low. Yesterday, Strike announced CEO, non-executive chair, and NED changes/retirements; and following an independent review, a move towards a smaller board.

Strike is not super liquid - look away now if this is not your thing.

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The Trade:

• Strike is down >40% in the past 12 months, and is currently at a multi-year low.

• The board overhaul and a new discovery at Walyering are positive.

• Taking Strike into its fold makes sense for Gina Rinehart’s Hancock Energy. Or possibly Beach.