Insights

Strike Energy (ASX:STX) share price down in afternoon trade

What’s going on with Strike Energy today?
The post Strike Energy (ASX:STX) share price down in afternoon trade appeared first on The Motley Fool Australia. –

The Strike Energy Ltd (ASX: STX) share price is edging lower today in afternoon trade. At the time of writing, Strike Energy shares are down 1.54% at 32 cents a share.

That is in contrast with the S&P/ASX 200 Index (ASX: XJO). The ASX 200 is currently up 0.87% today to 7,337 points so far.

So what’s going on with Strike Energy today?

Well, earlier today, Strike Energy released an announcement before market open.

In this announcement, Strike advised that it has “completed production testing” at its West Erregulla 4 (WE4) well. The results from this testing “demonstrate similar productivity characteristics consistent with the regional Permian gas fairway wells from Waitsia and Beharra and supports the progression of the Phase 1 development“.

Strike also told investors that “gas sample analysis indicates WE4 has a similar gas composition to the WE2 well“. Going forward, the WE4 well will now be shut in order for Strike to “observe a long-term pressure buildup”, before it moves on to the next stage of development.

This announcement comes after a well-received update last week, which provided an update on Perth Basin gas projects. This includes a management target of developing Strike’s multi-well Perth Basin. Strike is now eyeing ~1,800 petajoules of prospective conventional gas resources for these projects over the second half of 2021.

About the Strike Energy share price

Despite the current share price, Strike Energy has been a very solid performer for investors over the past few years. The company is now up 14.5% year to date in 2021 so far, and up 66% over the past 12 months. It’s also up a very pleasing 201% over the past 5 years.

On the current Strike Energy share price of 34 cents a share, the company has a market capitalisation of $659.1 million.

The post Strike Energy (ASX:STX) share price down in afternoon trade appeared first on The Motley Fool Australia.

Should you invest $1,000 in Strike Energy right now?

Before you consider Strike Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Strike Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Strike Energy (ASX:STX) share price charges higher on “transformational” outlook
Here’s why the Strike Energy (ASX:STX) share price is surging today
What’s happening with the Strike Energy (ASX:STX) share price?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!