Updated thoughts on Strike Energy (STX) please
Hi Guys, I'd appreciate your thoughts on Strike based on the most recent update and how you see their outlook for CY24 as well as the sector in general. Thanks, Phillip
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Answer
Hi Phillip,
We’ve had a number of questions on STX over the years although we haven’t actually invested in the SA based $1.2bn oil & gas business ourselves. The news that STX is set to replace Costa Group (CGC) in the ASX200 should be bullish and will take the stock more onto the MM radar.
The quarterly activities report in late January hasn’t help the stock breach the 50c resistance area and we have to adopt a neutral stance with STX rotating between 35c and 50c since March last year.
