The latest Hancock bid, during what turned into aWarrego would augment Hancock’s growing portfolio of gas assets, which includes a minority stake in Queensland-based domestic gas producer Senex Energy, alongside majority owner and steel maker Posco of South Korea, and a stake of about 3 per cent in Norwest Energy, another Perth Basin explorer.The deal, though, may not be the end of Rinehart’s ambitions.
Strike Energy has increased its stake in Warrego to 19.9 per cent and shapes as a potential kingmaker in the fight. Strike boosted its stake through a one-for-one exchange of shares with various Warrego shareholders that strengthens its hand in the takeover tussle and increases its say in the future of West Erregulla.
“We continue to believe that the interest in Warrego and its non-operating interest in West Erregulla provides strong validation of the exploration potential and technical/economic feasibility of Strike’s Perth Basin assets from two high-profile energy sector participants, and that the corporate interest in Warrego may be a precursor to broader Perth Basin energy consolidation.
Talon Energy TalonEnergyLtd are next in the Perth Basin. gas perthbasin $STX $MIN $TPD
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