Strike Energy (ASX: STX) is focused on unconventional and conventional oil and gas projects, and is currently preparing to make an capital raising announcement.
The ASX has granted Strike a trading halt today, with its shares placed in pre-open.
Strike has recently been making substantial progress at its Southern Cooper Basin Gas Project, with the company now positioned to accelerate evaluation activities.
The Cooper Basin is known as Australia’s most prolific onshore hydrocarbon basin, with appraisal expenditures in excess of $500 million are delineating the unconventional resource potential including, gas composition, flow rates and ultimately the commerciality of these resources.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 1st August 2013.
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