Strike Energy Boosts Walyering 2P Reserves to 16.4 PJ Including Walyering West

Reserves Upgrade Reflects Walyering West Discovery

Strike Energy (ASX:STX) has completed its annual reserves and resources review for the Walyering gas field, delivering a notable upgrade in 2P sales gas reserves to 16.4 petajoules (PJ) net to the company. This increase incorporates maiden 2P reserves for the recently discovered Walyering West C1 sand, marking a significant addition to the company’s Perth Basin portfolio.

The independent assessment by RISC Advisory confirms that after accounting for FY26 production of 5.7 PJ, 1P reserves stand at 6.1 PJ, while 3P reserves reach 29.6 PJ. The upgrade primarily stems from the Walyering West 1 well, which has demonstrated promising reservoir characteristics adjacent to the existing Walyering field. Notably, modest increases were recorded for the Walyering 5 and 6 wells, while reserves associated with Walyering 7 were removed from the booking.

Contingent Resources Expanded Across Multiple Sands

Alongside the reserves upgrade, Strike has booked new contingent resources at Walyering West across the Asub1, D1, D2, D3, and D4 sands, adding approximately 10 PJ (2C) to its contingent resource base. These volumes remain contingent on further appraisal and development activities, including establishing stable production methods and workovers to manage water zones.

The combined Walyering field now presents a more substantial and diversified resource base, underpinning Strike’s strategy to optimise production and support ongoing gas supply commitments in Western Australia.

Development Plans Advance with FEED and FID Scheduled

Strike is progressing Front End Engineering and Design (FEED) for the tie-in of Walyering West 1 to the existing Walyering gas processing infrastructure. The company anticipates making a final investment decision (FID) in the fourth quarter of calendar year 2026. This development path leverages proximity to existing facilities, aiming to expedite commercialisation and production ramp-up.

Managing Director and CEO Shelley Robertson emphasised the importance of Walyering as a domestic gas supply source for Western Australia, highlighting the company’s focus on prudent portfolio management to meet firm gas sales agreements. As of 1 July 2026, Strike has approximately 16.3 PJ of contracted gas remaining to be delivered under these agreements.

Independent Certification and Reporting Standards

The reserves and contingent resources estimates comply with the Petroleum Resources Management System (PRMS) guidelines, ensuring robust and transparent reporting. The evaluation incorporated data from drilling, coring, seismic, and production testing across multiple wells and formations. RISC Advisory, an independent petroleum consultancy, provided the certification, with qualified personnel overseeing the assessment.

This rigorous approach lends credibility to the reserves upgrade and supports investor confidence in Strike’s resource base and development plans.