Strike Energy output, sales steady in September quarter
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The news: Oil and gas explorer Strike Energy has reported steady sales and production volumes for the September quarter from its wholly-owned Walyering gas field in WA.
The numbers: Sales and production volumes for the three months to September were steady at 2.4 petajoules (PJ), slightly higher than the 2.35 PJ in the June quarter. However, sales revenue was 8% lower than the prior quarter as a result of foreign exchange effects.
Strike shares are down 2.3% at 21 cents in early trading on the ASX.
The context: The company said it improved sales volumes at Walyering and confirmed new discoveries at Walyering-7 and Erregulla Deep-1 during the quarter.
The company said had $61.5 million in available liquidity at September-end and said it is now moving to a period where discretionary capital on exploration activities will slow as it focuses on the West Erragulla and South Erragulla projects.
Earlier this week, Strike announced "exceptional" production testing results at the Erregulla Deep-1 exploration well in Western Australia.
The source: ASX announcement
