Strike Energy Limited (AU:STX) has released an update.
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Strike Energy Limited has announced updated reserves and resources for the South Erregulla field, with a total of 82 PJ of 2P Reserves and 2C Contingent Resources, a significant asset for the company’s proposed South Erregulla Peaking Power Plant. However, due to recent appraisal outcomes, part of the field’s resources have been downgraded to Prospective Resources, indicating a reduced volume and necessitating further exploration. The positive reclassification supports over 25 years of operation for the planned power plant, showcasing the field’s long-term potential.
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