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Strike Energy Limited (ASX:STX)

ALERT: Price-sensitive ASX Announcement for STX
Current share price for STX : $0.105 0 (0%)+
Announcement
Release
14 Oct 2025 8:59AM
Price at Release
$0.105
Full Release
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Summary
Strike Energy Limited has provided an update on its South Erregulla Peaking Power Plant project. The first Jenbacher engines have arrived and are being installed, marking a significant milestone. The South Erregulla-1 well has undergone a workover and production simulation to ensure readiness for gas supply. Construction of the 85 MW Peaking Power Plant is on schedule, with the first generation expected by 1 October 2026. The plant will participate in Western Australia's Reserve Capacity Mechanism, ensuring a stable revenue stream. A significant increase in the Reserve Capacity Price is anticipated, potentially boosting expected Capacity Credit revenue significantly by year two of operations. Ongoing efforts include further installations and the construction of transmission connections, supporting Western Australia's shift towards a cleaner energy system.
Key Points
  • First Jenbacher engines arrived and installation begun at South Erregulla site.
  • South Erregulla-1 workover and production simulation completed for gas supply readiness.
  • 85 MW Peaking Power Plant construction progress with target of first generation by 1 October 2026.
  • Participation in Western Australia's Reserve Capacity Mechanism for stable revenue.
  • Expected Capacity Credit revenue of approximately $30.7 million by year two, independent of energy sales.
  • Significant increase in Reserve Capacity Price anticipated for the 2027/28 Capacity Year.
  • Further installations and construction of transmission connection expected by year-end.
  • Project aligns with Western Australia’s transition to a cleaner energy system.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.