Strike Energy Limited · ASX:STX
Strike Energy — Shareholder Meeting (November 2023)
23 slides from Strike Energy's shareholder meeting presentation, Nov 23, 2023
Slide 1: Chairman's AGM Address and MD Presentation
23rd November 2023 ASX: STX The Company Announcement Officer ASX Ltd via electronic lodgement Chairman’s AGM Address and MD Presentation Please find attached the following items to be presented at Strike Energy Limited’s Annual General Meeting to be held at 11:00 am (AWST) today. • Chairman’s 2023 A
Slide 2: Chairman's 2023 Annual General Meeting Address
Chairman’s 2023 Annual General Meeting Address Good morning, ladies and gentlemen, and welcome to the 2023 Annual General Meeting of Strike Energy Limited. My name is John Poynton, and I am the Chair of Strike Energy. Firstly, I would like to acknowledge the Traditional Owners of the land on which w
Slide 3: Chairman's Address (continued)
These challenges aside, our financial flexibility, coupled with prudent risk management, underpins our capacity to drive sustainable growth and shareholder return. This has been recently demonstrated by our entry into a Scheme Implementation Deed to acquire our Walyering joint venture partner, Talon
Slide 4: Annual General Meeting Managing Director's Report
Annual General Meeting Managing Director's Report November 2023 For personal use only On the journey to be the lowest cost and lowest carbon onshore producer of gas and energy in Australia.
Slide 5: Cautionary note and disclaimer
Cautionary note and disclaimer Summary information This presentation contains summary information and statements about Strike Energy Limited (ASX:STX) (Strike), its subsidiaries and their respective activities, which is current as at the date of this presentation (unless otherwise indicated). The in
Slide 6: Commitment to safety & the environment
Commitment to safety & the environment 2023 Highlights For personal use only Zero LTIs and significant environmental incidents Walyering One of the first greenfield gas field developments in Australia to be powered by solar and batteries Zero Hectares of native vegetation disturbed 3
Slide 7: Strike's leadership continues to drive value
Strike’s leadership continues to drive value Strike Share Price Performance Board of Directors $ per share monthly, during current Management & Board tenure (21 Nov 23) 0.5 For personal use only Chair D. Chair MD & CEO John Neville Stuart 0.4 Poynton AO Power Nicholls 0.3 Mary Andrew Jill Stephen Ha
Slide 8: Another strong year of performance against our peers
Another strong year of performance against our peers Strike Share Price Relative Performance. YTD 2023 EV/ 2P+2C Versus various ASX listed E&P peer group Versus ASX listed E&P peer group, A$ GJ (17 Nov-2023) % change YTD 1.49 For personal use only 40% 1.13 20% 1.02 0.97 0% 04/01/23 20/11/23 0.95 -20
Slide 9: Strike has a unique culture
Strike has a unique culture Our Values Resourceful 75% of staff Agile 38% female less than 45 For personal use only workforce years of age Collaborative An industry leader in A staff with runway Open workplace diversity Long term focused Competent Strike’s workforce 97% of employees is made up of on
Slide 10: The largest holder of Perth Basin Reserves & Resources
The largest holder of Perth Basin Reserves & Resources Strike Energy Limited Lockyer Mid-West North Erregulla Geothermal (STX 100%) 100% operated Perth Basin Net Reserves & West Erregulla (STX 50%) Waitsia Infer Res 226 MW 2P: 422 PJ Resources, Independently Certified 2C: 30 PJ Erregulla Deep (STX 5
Slide 11: 2023 in review - key events
2023 in review - key events ~$1 bn of South Successful Perth Basin Erregulla For personal use only M&A Eneabba 2D Appraisal of acquisition South foundation transpires gas sale Ongoing definition of high Erregulla Miners swoop in, West impact exploration ~42 PJ and ~60% of Erregulla 50% sold for 16m
Slide 12: Reducing gas supply against increasing demand
Reducing gas supply against increasing demand WA (oil and gas) wells drilled per Under Investment 2P reserves write downs (PJe) Write Downs, Exploration Basin per year Failures & Declines 194 180 For personal use only x 158 x x 32 108 x 89 -84% 73 x 60 61 51 35 33 38 17 21 17 Increasingly 9 11 120 d
Slide 13: WA's minerals industry driving gas consumption
WA’s minerals industry driving gas consumption WA – Consumption of gas by industry category Estimated demand for gas from WA Lithium Industry (%) (Average TJ/day) For personal use only Nickel 6% Current Gold 7% Forecast Commercial 10% 26 Chemicals 14% Iron Ore 17% 46 2 Electricity 20% Diesel fired p
Slide 14: WA's energy transition is driving gas pricing
WA’s energy transition is driving gas pricing WA – Wholesale Electricity Market by Max quarterly WA spot gas price ($/GJ) fuel type (%) For personal use only 10 100 100 15 11 8 7 7 6 31 +51% 47 4 45 2 32 Jun-21 Jun-23 Q1/15 Q1/17 Q1/19 Q1/21 Q1/23 Coal Gas Solar PV Wind Other Source: Compiled using
Slide 15: WA Govt endorsed gas acceleration strategy
WA Govt endorsed gas acceleration strategy 51 PJ net 2P plus 2C Up to 33 TJ/d with 250 bbls/d 2P Walyering condensate 63% 37% 2C For personal use only 55% operator 399 PJ net 2P plus 2C 2 x 40 TJ/d Phased modular South development, Phase 1 2P 32% Erregulla targeting production in 2025 68% 2C 100% op
Slide 16: Contracted to some of WA's biggest companies
Contracted to some of WA’s biggest companies Strike’s Independently Certified 2P Strike’s contracted Reserves Reserves & 2C Resources1 Net PJe Net PJe AGL | Perth Energy For personal use only 16% 3% 21% 22% 981 PJ 161 PJ 12% 62% 62% Uncontracted 2P Reserves 2C Resources Contracted 2P Reserves Strike
Slide 17: Walyering – Production & Proven Project Developer
Walyering – Production & Proven Project Developer 21 months from discovery to first production 55% & Operator Gross 2P 54 PJe, 2C 33 PJe1 For personal use only W5 well and flow line PGP connection W6 and facility Q1-FY24 ramp up production W7 proposed Nameplate of 33 TJ/d has been location, dril
Slide 18: Scheme of Arrangement with Talon
Scheme of Arrangement with Talon Talon Shareholders Fully Paid Ordinary Shares, undiluted Strategic Rationale for the 9% Known STX Shareholders transaction STX Friendlies & TPD Board For personal use only 6% Hedge Funds Strong balance sheet, larger cash flow & wider Other access to financing, redu
Slide 19: South Erregulla – Preparing for Development
South Erregulla – Preparing for Development Successful appraisal to start the SE2 16m net pay pathway to FID porosity up to 18% 100% & Operator For personal use only SE3 Gross 2P 128 PJ, 2C 271 PJ1 Spudded 21st October Drilling final hole section Production Licence issued Primary approvals secured F
Slide 20: A catalyst rich months ahead
A catalyst rich 12 months ahead exploration production & appraisal development For personal use only South Erregulla 2 & 3 South Erregulla gas sales appraisal drilling contracts Walyering production operations, with USD and Walyering-7 appraisal South Erregulla primary international oil pr
Slide 21: Central to WA's energy transition
For personal use only Central to WA’s energy transition
Slide 22: Reserves and resources information
Reserves and resources information Reserves and resources estimates Information in this presentation relating to the Reserve and Resource Estimates for: • The West Erregulla Project is set out in the ASX announcement dated 27th July 2022 entitled “West Erregulla Reserves Upgraded by 41%”. Strike equ
Slide 23: Forward Looking Statements and other information
Forward Looking Statements and other information Forward looking statements This presentation contains forward looking statements about Strike. Often, but not always, forward looking statements can be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “