Strike Energy Sells Carnarvon Basin Gas Assets

Strike Energy Ltd has agreed to sell its wholly owned subsidiary, Strike Energy Western Australia Pty Ltd to Torrens Energy for $3.5 million.

As per the deal Torrens will acquire acquire Strike Western Australia's four Carnarvon offshore and onshore permits. The assets also include the undeveloped Rivoli gas field,

Strike will continue to hold its 33.3% operated interest in WA-460-P, adjacent to WA-384-P where Shell is currently drilling the Palta 1 well. Approximately 18% of the 13.5Tcf Palta prospect is mapped to extend into WA-460-P.

The move comes as Strike wants to to focus its resources on developing the Southern Cooper Basin Gas Project and Eagle Ford Shale assets while “maintaining a meaningful exposure to a discovery at Palta.”