Strike Energy Limited · ASX:STX
Strike Energy — 1H FY26 Earnings Presentation
20 slides from Strike Energy's earnings presentation, Feb 26, 2026
Slide 1: FY26 Half Year Results
FY26 HALF YEAR RESULTS 26 February 2026 ASXSTX FY26 Half Year Results | 1
Slide 2: Disclaimer and Important Notices
DISCLAIMER AND IMPORTANT NOTICES Summary information (US Securities Act) and may not be offered or sold in the United States except in transactions exempt from, This presentation contains summary information and statements about Strike Energy Limited (ASX:STX) or not subject to, the registration req
Slide 3: 1H 2026 Financial Summary
1H 2026 FINANCIAL SUMMARY FY26 HALF YEAR RESULTS
Slide 4: 1H FY26 Summary
1H FY26 SUMMARY UNDERLYING NPAT 1H FY26 RESULTS ($12 m) ▲ 20% vs 1H FY25 3.8 PJe TOTAL PRODUCTION ▼ 18% vs 1H FY25 UNDERLYING EBITDA1 AVG REALISED GAS PRICE $7.37 /GJ $14 m ▼ 10% vs 1H FY25 ▲ 3% vs 1H FY25 TOTAL CAPITAL EXPENDITURE $99.5 m ▲ 113% 1H FY25 REVENUE $36 m ▲ 1% vs 1H FY25 FINANCIAL POSIT
Slide 5: Operations Review
OPERATIONS REVIEW FY26 HALF YEAR RESULTS
Slide 6: Operations Overview
OPERATIONS OVERVIEW West Erregulla & Erregulla Deep South Erregulla STX 50%, Operator STX 100%, Operator Pre-FID status 85 MW integrated peaking gas power Midstream development options being advanced Under construction Strike’s independent certification update of reserves and On budget a
Slide 7: West Erregulla Overview
WEST ERREGULLA OVERVIEW A strategically located, forecast-critical gas resource for WA Strike Energy 50% (Operator) | Hancock Energy 50% Legend Project Name: West Erregulla Status: Pre-FID Gas to Power (In construction) Lockyer Location: Perth Basin (L25 & L26) Reserves: Under Review Gas Processing
Slide 8: South Erregulla Overview
SOUTH ERREGULLA OVERVIEW Delivering capacity-backed, critical energy infrastructure for WA Strike Energy 100% (Operator) Project Name: South Erregulla Status: In construction 85 MW Peaking Gas Power Plant Reserves: 45 PJ 2P / 37 PJ 2C1 Location: Perth Basin (L24) Target on-line date: 1 Oct 2026 Cr
Slide 9: South Erregulla Operational Update
SOUTH ERREGULLA OPERATIONAL UPDATE Project Name: South Erregulla Status: In construction Structural Steel 100% complete at Western Power Switchyard 85 MW Peaking Gas Power Plant Reserves: 45 PJ 2P / 37 PJ 2C1 Location: Perth Basin (L24) Target on-line date: 1 Oct 2026 Overall project completion at
Slide 10: Walyering Overview
WALYERING OVERVIEW Established domestic gas production and infrastructure Strike Energy 100% (Operator) Project Name: Walyering Status: Online Location: Perth Basin (L23) Reserves: 14 PJ 2P/ 17 PJ 2C1 Nameplate Capacity: 33 TJ/day Current Rate: 10 TJ/day2 Established Perth Basin gas production sup
Slide 11: Walyering Operational Update
WALYERING OPERATIONAL UPDATE Established domestic gas production and infrastructure Strike Energy 100% (Operator) Project Name: Walyering Status: Online Location: Perth Basin (L23) Reserves: 14 PJ 2P /17 PJ 2C1 Nameplate Capacity: 33 TJ/day Current Rate: 10 TJ/day2 Additional heat exchanger instal
Slide 12: Ocean Hill Overview
OCEAN HILL OVERVIEW Material exploration upside defined by 3D seismic Strike Energy 100% (Operator) Project Name: Ocean Hill Status: Appraisal Location: Perth Basin (EP 495) Resources: 180 2C / 190 2U1 3D seismic defines multiple exploration and appraisal targets Improved reservoir continuity vs
Slide 13: Kadathinni Overview
KADATHINNI OVERVIEW Frontier exploration with transformational potential Strike Energy 100% (Operator) Project Name: Kadathinni Status: Exploration Location: Perth Basin (EP503 & EP504) Resources: 385 2U1 West Erregulla (STX 50%) Large-scale multi-play frontier prospectivity South Erregulla 2D s
Slide 14: Outlook & Strategic Priorities
OUTLOOK & STRATEGIC PRIORITIES FY26 HALF YEAR RESULTS
Slide 15: WA Energy Market Update
WA ENERGY MARKET UPDATE Energy Transition and Supply Decline Driving the Need for Reliable Domestic Gas Investment WA GAS SUPPLY & DEMAND FORECAST 1 RESERVE CAPACITY PRICE (RCP) 2 GSOO 2025 ($000s/MW/YEAR) PJ 1,500 450 360 1,000 270 500 180 SE Online 90 0 0 2026 2030 2035 2040 2045 2018 2020 2022 20
Slide 16: 2026 Near-Term Value Inflection Points
2026 NEAR-TERM VALUE INFLECTION POINTS Building Momentum Through 2026 West Erregulla & West Erregulla Erregulla Deep Walyering STX Target Final Certified Reserves West-1 Investment Decision & Resources Test South Erregulla Update Walyering (contingent) Peaking Power Plant West-1 Online Spud 2026 Q1
Slide 17: 2026 Strategic Priorities
2026 STRATEGIC PRIORITIES Focussed on advancing a multi-asset Perth Basin gas platform to unlock long-term shareholder value Positioning Strike as a trusted independent gas explorer & developer in Western Australia Deliver South Erregulla Power Project on time and on budget Optimise Walyering produc
Slide 18: Powering Progress for the Energy Transition
POWERING PROGRESS FOR THE ENERGY TRANSITION ASXSTX FY26 Half Year Results | 18
Slide 19: Appendix A: Underlying EBITDA Reconciliation
APPENDIX A: UNDERLYING EBITDA RECONCILIATION 1H26 1H25 Underlying EBITDA Reconciliation $’000 $’000 Revenue from gas and oil sales 36,002 35,810 Cost of goods sold excluding depreciation and amortisation (D&A) (13,777) (9,392) Other income 778 1,866 Other expenses excluding abandonment expense and D
Slide 20: Forward Looking Statements and Other Information
FORWARD LOOKING STATEMENTS AND OTHER INFORMATION Reserves and Resources Estimates fluctuations and general economic conditions, increased costs and demand for production inputs, the Information in this presentation relating to the Reserve and Resource Estimates for: speculative nature of exploration