The share price of ASX-listed Strike Energy closed nearly 90% higher on Tuesday after the company announced a ‘significant’ gas discovery at the Strike-Warrego joint venture (JV), in the Perth Basin.
The discovery, dubbed Kingia, was encountered at 4 753 m with gas on rock showing a gross gas column of at least 97 m. Strike noted that the lower section from 4 790 m onwards was made up of several high-quality large units of clean sand with thick blocky porosity development.