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Strike Energy Limited ( (AU:STX) ) has shared an update.
Strike Energy Limited’s subsidiary, Talon (L7) Pty Ltd, is facing legal proceedings initiated by Triangle Energy Onshore Pty Ltd in the Supreme Court of Western Australia. The dispute involves Talon L7’s withdrawal from a Joint Operating Agreement and obligations under a Farmout Agreement related to Production Licence L7(R1) and Exploration Licence EP 437. Triangle Energy is seeking damages of $3,838,780. Talon L7 plans to defend the proceedings vigorously, and Strike Energy will keep its security holders informed of any significant developments.
The most recent analyst rating on (AU:STX) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Strike Energy Limited stock, see the AU:STX Stock Forecast page.
More about Strike Energy Limited
Strike Energy Limited is an energy company involved in the exploration and production of oil and gas. The company focuses on developing energy resources and operates primarily in Australia, with a market focus on sustainable and efficient energy solutions.
Average Trading Volume: 5,556,560
Technical Sentiment Signal: Sell
Current Market Cap: A$413.9M
Find detailed analytics on STX stock on TipRanks’ Stock Analysis page.