By David Press on 3/22/2011 4:21 PM


Strike Energy (STX-ASX) announced late last week that they have increased the company's interest in the Louise gas/condensate field and the Eaglewood JV. Strike have spent US$3.75m on increasing their interest in the Louise fields to 40% (from 30%), increasing net production for Strike to 2MMcfe/day (revenue of approximately $350 000 per month at current prices). The deal also increases the interest in the Eaglewood JV, giving strike a 40% interest in future discoveries.

 

Having recently sold it's Rayburn and Mesquite assets (blog here), STX are flush with cash (around $20m before the deal) and are embarking...
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