Strike Energy (ASX: STX) is heading to market with a capital raising, with the ASX granting the company a trading halt this morning.
STX's shares are currently in pre-open.
The company is focused on the development of a substantial gas resource in the Southern Cooper Basin to meet Eastern Australian gas market demand.
During 2012/13 production was 100,698 boe, with revenue for the period $4.6 million.
The halt will remain in place until the opening of trade on Tuesday 11th March 2014, or earlier if an announcement is made to the market.
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