Key Highlights

  • Strike Energy released its FY26 Annual Report on 23 September 2026, reporting sales revenue of $62.8 million, underlying EBITDA of $17.6 million and cash of $46.3 million at 30 June 2026.
  • Net 2P Reserves at West Erregulla rose by approximately 20% to 251 PJ, and the company selected the Belisama Gas Processing Facility as its preferred processing solution.
  • Commercial operations at the 85 MW South Erregulla Peaking Power Project are targeted for the fourth quarter of calendar 2026.

Shares in Strike Energy Limited closed at $0.099 on 27 October 2026, up 1.02% for the session. By comparison, the ASX 200 closed at 8,850.1, up 0.46%, and the energy sector index ended at 11,074.7, up 0.63%. Brent crude oil slipped 0.60% to USD 115.15 as diplomatic efforts to ease the U.S.-Israeli war with Iran reduced concerns over further regional escalation. Strike Energy Limited (ASX:STX) describes itself as a Western Australian independent energy explorer and producer, developing gas from the Perth Basin and Mid-West region, with an integrated portfolio of gas and gas-to-power developments.

Latest Development: FY26 Full Year Results and Annual Report

On 23 September 2026, Strike announced that its Annual Report for the financial year ended 30 June 2026 had been released. The company reported the following financial figures for FY26, with FY25 comparatives in brackets.

  • Sales revenue of $62.8 million ($72.7 million)
  • Net cash inflows from operating activities of $6.4 million ($42.6 million)
  • Underlying EBITDA of $17.6 million ($41.6 million)
  • Cash and cash equivalents of $46.3 million at 30 June 2026 ($41.1 million at 30 June 2025)
  • Loss for the year of $27.2 million ($157.3 million), according to the reconciliation in Appendix 1

Latest Development: West Erregulla Reserves and Processing Pathway

Strike reported that, following an independently audited Reserves and Resources review, net 2P Reserves at West Erregulla increased by approximately 20% to 251 PJ. The release states that Strike holds a 50% interest and that the estimates were audited by Miller & Lents, Ltd.

After year end, Strike selected Hancock Energy's Belisama Gas Processing Facility as its preferred processing solution for West Erregulla, targeting 43.5 TJ/d of processing capacity net to Strike. The company described this as establishing a pathway towards a final investment decision (FID).

Latest Development: Funding Arrangements and South Erregulla Power Project

The company reported that $30 million of committed Macquarie Bank Limited financing capacity became available after year end. Strike and Hancock Energy also agreed in principle to up to $30 million of pre-FID funding support by way of a loan, to support Strike's share of West Erregulla development activities through to FID. The release refers readers to an ASX announcement of 31 August 2026 titled Company Update for loan terms.

On power generation, Strike said construction and commissioning of the 85 MW South Erregulla Peaking Power Project advanced substantially during FY26, with commercial operations targeted in the fourth quarter of calendar 2026.

Latest Development: Leadership Changes and Management Comments

Strike reported that Shelley Robertson was appointed Managing Director and CEO from 1 June 2026, and Nev Power was appointed Chair from 1 July 2026. Ms Robertson said the company is approaching a period in which Walyering, South Erregulla and, in time, West Erregulla can provide multiple sources of revenue and cash flow. She listed the priorities for FY27 as delivering South Erregulla into commercial operations, progressing West Erregulla towards FID and maintaining operational performance at Walyering, while returning greater focus to exploration across the Perth Basin portfolio.

Risks and Catalysts on Watch

The release and its notices identify the following items.

  • Commercial operations at South Erregulla are targeted in the fourth quarter of calendar 2026.
  • West Erregulla has a pathway towards FID, with pre-FID loan support of up to $30 million agreed in principle.
  • The company noted that its forward-looking statements involve known and unknown risks and uncertainties, many outside its control, and refers readers to the risk factors in the 2026 Annual Report.
  • Reserves and resources figures are subject to the cautionary notices in the release, which refer to an ASX announcement dated 18 March 2026.

Closing Summary

Strike Energy's 23 September 2026 release summarised FY26 as a year of activity across its portfolio, reporting revenue of $62.8 million, underlying EBITDA of $17.6 million and year-end cash of $46.3 million. The company also reported higher West Erregulla Reserves, a preferred processing solution, additional funding capacity and new leadership appointments.