What’s MM’s current view on Strike Energy (STX)?

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Question asked 04/03/2023

What’s MM’s current view on Strike Energy (STX)?

Message: back in September 2022 a contributor asked " does MM like STX?". Does MM hold an updated view on STX in view of mant favourable moves, announcements ( especially around WGO, TPD) since September last? The purported looming gas shortage in WA will become significant by 2025?

Answer

Hi David,

For those not familiar with Strike Energy (STX) it’s a $940mn SA petroleum exploration business which has trending higher post COVID albeit in a very volatile manner – it was trading at 38c on Friday afternoon. Our opinion is mainly based on a bullish outlook for the Energy Sector and the technical picture towards STX:

We are bullish STX looking for a breakout to new all-time highs above 41c.

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Strike Energy (STX)

LAST UPDATED 03/03/2023 12:49

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