Strike Energy (STX) Q1 2027 TU earnings summary

Executive summary

• Progressed West Erregulla processing and pre-FID funding arrangements; Walyering production and reserves increased, while South Erregulla advanced toward commissioning.

• Strong HSE performance maintained across operations and development activities.

Financial highlights

• Q1 FY27 sales revenue was $14.08 million, up 8% QoQ; gas revenue was $13.36 million and condensate revenue $0.72 million.

• Quarterly production was 1.13 PJe, up 14% QoQ; sales volume was 1.90 PJe, up 11% QoQ, including 0.78 PJ of third-party gas.

• Average realised gas price was $7.15/GJ, up 1% QoQ; condensate averaged $131.22/bbl, down 26% QoQ.

• Capital expenditure was $10.40 million: $9.14 million development and $1.26 million exploration and appraisal.

Outlook and guidance

• West Erregulla upstream FID targeted for mid-FY28, with first gas targeted for mid-CY29.

• South Erregulla grid energisation targeted for November 2026; AEMO commissioning is expected to take six to eight weeks before commercial operations.

• Walyering West-1 tie-back FEED progressed during the quarter.