Strike Energy (STX) Q3 2026 TU earnings summary

Executive summary

• South Erregulla 85 MW Peaking Gas Power Project reached 86% completion, targeting online by 1 October 2026.

• No major HSE incidents during active periods at South Erregulla and Walyering.

• Walyering West-1 drilling campaign advanced, with well reaching total depth and evaluation underway.

• Significant upgrade to West Erregulla 2P Reserves, up 20% to 251 PJ net.

Financial highlights

• Q3 FY26 sales revenue was $13.72 million, down 20% quarter-on-quarter; YTD revenue at $49.71 million, down 9% year-over-year.

• Production for Q3 FY26 was 1.12 PJe, down 30% quarter-on-quarter; YTD production at 4.91 PJe, down 29% year-over-year.

• Average realised gas price was $7.05/GJ, down 4% quarter-on-quarter.

• Cash and cash equivalents at quarter end were $37.13 million, down 47% from previous quarter.

• Capital expenditure for the quarter was $36.69 million, with $32.10 million in development and $4.59 million in exploration.

Outlook and guidance

• South Erregulla project remains on track for October 2026 commissioning.

• Walyering West-1 results pending; further production increases expected post-compression installation.

• Market signals support project economics with a 35% increase in Benchmark Reserve Capacity Price for 2028/29.