Ann: Walyering-7 Flow Test Update, page-36

On Bell Direct Website today;

"2311 GMT - Wilsons stays bullish on Strike Energy, despite the investment bank pushing back expectations for first gas from the West Erregulla project. Analyst James Karakatsanis now thinks West Erregulla won't start up until 2027, some 12 months later than forecast, given long development times in the Perth basin. Still, Wilsons sees the West Erregulla project becoming a more prominent proposition in Strike's portfolio after a price revision to supply Wesfarmers with gas and recent environmental approval for the development. "We adjust our modelling accordingly and adjust West Erregulla up A$0.03/share in our risked sum-of-the-parts valuation despite the risk to delays in startup," says Wilsons. It retains an overweight call on Strike's stock and A$0.33/share price target. Strike ended last week at A$0.215. ([email protected]; @dwinningWSJ)
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