Strike Energy Boosts Walyering 2P Gas Reserves to 16.4 PJ

Strike Energy (ASX: STX) has lifted 2P sales gas reserves at its Walyering field to 16.4 petajoules after adding the Walyering West discovery.

The estimate, assessed by independent consultant RISC Advisory as at 1 July 2026, includes 6.1PJ of 1P and 29.6PJ of 3P reserves. The 2P figure rose from 13.6PJ a year earlier despite 5.7PJ of production during fiscal 2026. The Walyering West discovery also pushed 2C contingent resources to 26.5PJ from 16.7PJ.

The revised booking primarily reflects the C1 sand at Walyering West 1, where maiden 2P reserves were booked after the discovery near the producing field. RISC attributed 8.7PJ of 2P additions to the combined field before a 0.2PJ downward revision. Walyering 5 and Walyering 6 showed modest increases in connected volumes while Walyering 7 volumes were removed.

"The addition of Walyering West to the Walyering Reserves booking is a great outcome for Strike," managing director and CEO Shelley Robertson said. "Strike will continue to focus on optimising production from the combined field and prudently managing its gas supply portfolio to support delivery under its existing gas sales agreements."

Front End Engineering and Design (FEED) work is underway for a tie-in of Walyering West 1 to the existing Walyering processing facility. A final investment decision is targeted for the fourth quarter of 2026. Reserves associated with the well remain classified as undeveloped until the tie-in is completed.

Strike expects compression across its existing well inventory to start in the third quarter of 2026. The recoverable quantities incorporate that planned work.

New contingent resources have been booked at Walyering West across the Asub1, D1, D2, D3 and D4 sands, adding 10PJ to the 2C category. Development of those resources depends on technical work including establishing a stable production method for liquids-rich fluids in the Asub1 interval and a workover to shut off a water zone and retest the D sands.

As at 1 July, Strike had about 16.3PJ of contracted gas remaining under its current firm Gas Supply Agreements. That volume compares with the combined field's 16.4PJ of 2P reserves, plus the contingent resources identified through the Walyering West discovery.

The annual review combines the producing Walyering field and Walyering West into a single booking because Strike plans to develop the new accumulation through existing infrastructure. Strike holds a 100% operated interest in licence L23, with all estimates reported net to the company and net of fuel, flare, and vent.

The estimates follow the Petroleum Resources Management System 2018. The contingent resources are un-risked; Strike estimates a 50% chance of development.