2317 GMT [Dow Jones]--Carnarvon Energy now owns 18-19% of Strike Energy's equity following the latter's capital raising, effectively securing a blocking stake in the Western Australia-focused natural- gas producer. That means Carnarvon "is now integral in any commercial negotiations if Hancock was seeking to fully consolidate the Perth basin Kingia acreage," says Macquarie. Hancock bought 50% of the West Erregulla natural-gas field in 2023 for A$450 million. Strike Energy owns the other 50% of West Erregulla. Macquarie resumes coverage of Strike Energy with a neutral call and A$0.10/share price target. Strike Energy ended Thursday at A$0.105. (david.winning@wsj.com)
(END) Dow Jones Newswires
September 25, 2025 19:21 ET (23:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.