Strike Energy : 29-01-2018 Revised Gas Sales Agreement with Orora (598 KB)

ASX Announcement

29 January 2018

The Company Announcement Officer ASX Ltd via electronic lodgement

REVISED GAS SALES AGREEMENT WITH ORORA

• • Strike announces revised 45PJ Gas Sales Agreement with Orora in line with revised development strategy for Strike's Southern Cooper Basin Gas Project

Strike Energy Limited (Strike - ASX:STX) is pleased to announce that it has revised the Gas Sales Agreement

(GSA) entered into with Orora Limited (Orora) in 2014 to better align the GSA with Strike's revised development strategy for its Southern Cooper Basin Gas Project (SCBGP) in PEL 96 (Strike 66.67% and Operator, Energy World Corporation 33.33%).

Pursuant to the revised GSA, Orora will have the option to purchase 45PJ of gas to be produced from the PEL 96 permit area, at 4.5PJ per annum over a 10 year term, commencing on or after 1 January 2020.

Orora's option remains conditional on the PEL96 Joint Venture making a final investment decision on a commercial project within PEL 96, but with the threshold project size being the planned Phase 1 50TJ/day project.

The revised option has been agreed on terms that support the commercial development of the SCBGP. Managing Director, Stuart Nicholls commented:

"The renegotiation of this agreement with Orora, who has been a big supporter and a foundation customer, is a clear indication that Strike is seeking to progress the commercial development of the Southern Cooper Basin Gas Project.

The renegotiation of the offtake agreement is evidence that the external environment is changing dramatically around Strike, and that forward gas demand continues to grow with supply tightening. The development of the Southern Cooper Basin Gas Project will provide a critical supply of gas into the East Coast market at a time of significant need."

Investor and Media Contacts

Stuart Nicholls	Justin Ferravant
Managing Director	Chief Financial Officer & Company Secretary
Phone: [phone]	Phone: [phone]
email:[e-mail]	email:[e-mail]

Strike Energy Limited ABN 59 078 012 745www.strikeenergy.com.au

P: [phone]

1/31-35 George St, Thebarton. South Australia 5031

E:[e-mail]