Strike Energy Elevates West Erregulla Gas Reserves by 19%, Unlocking New Growth Potential

Significant Reserve Upgrade at West Erregulla

Strike Energy Limited (ASX:STX) has revealed a substantial 19% uplift in its 2P gas reserves at the West Erregulla field, now estimated at 251 petajoules (PJ) net to Strike. This upgrade, validated by the independent global advisory firm Miller & Lents, reflects new insights gained from the Erregulla Deep-1 well drilled in September 2024 and the comprehensive Natta 3D seismic survey conducted in May 2025.

The enhanced subsurface interpretation, integrating seismic and well data, notably extended the field’s outline northwestwards; an area previously unrecognised; thereby underpinning the reserve increase. West Erregulla remains the cornerstone asset within Strike’s L25 and L26 production licences, where the company holds a 50% operated interest.

Advances at Erregulla Deep and Surrounding Prospects

Alongside the reserve upgrade, Strike has partially converted prospective resources at the Erregulla Deep structure into contingent resources, signalling a maturing understanding of the gas potential in the Kingia sandstone formation. The Erregulla Deep area has been subdivided into five distinct prospects, each with independently audited resource estimates, highlighting near-field growth opportunities.

Additional prospective resources have also been identified across the Kingia sandstone in the L25 and L26 licences, including the West Erregulla Far North and Sundalara prospects. These findings reinforce the broader prospectivity of Strike’s northern Perth Basin portfolio.

Strategic Importance for Western Australia’s Energy Transition

Strike’s Managing Director, Peter Stokes, emphasised the strategic significance of these results amid Western Australia’s energy landscape. With the state facing the twin challenges of retiring coal-fired power and ensuring reliable energy supply, the West Erregulla project offers a secure onshore gas source to support the transition.

Independent forecasts from the Australian Energy Market Operator (AEMO) underscore the growing need for additional gas supply and firming capacity in the South West Interconnected System. West Erregulla’s expanded reserves position Strike to play a meaningful role in addressing these forecast shortfalls.

Development Outlook and Next Steps

Strike is progressing development workstreams for West Erregulla, targeting a final investment decision and project commencement in 2027, with first gas expected by 2029. While contingent resources require further appraisal drilling and testing to confirm economic viability, the company’s robust data foundation and independent audit provide confidence in the project’s potential.

Environmental approvals for upstream development have been secured, marking a critical milestone. As Strike continues to evaluate and unlock additional prospects within its licences, the West Erregulla project remains central to its growth strategy and contribution to Western Australia’s energy future.