Strike Energy Raises $30m to accelerate momentum across WA-projects
- Strike Energy (STX) taps investors for $30 million to accelerate work across its West Australian projects
- Local and international institutional, professional and sophisticated investors have made binding commitments for a placement of around 127.6 million shares at 23.5 cents each
- The proceeds will support gas production in the Walyering gas field, growing domestic sales through West Erregulla and securing strategic land at the recently acquired Precinct
- Additionally, STX says the funds will help momentum at its proposed Project Haber through submission of environmental approvals and finalising a formal offtake agreement
- Emerging from a trading halt, STX shares are down 10 per cent and are trading at 24.8 cents at 1:50 pm AEST
