Strike Energy has bowed to the power and deep pockets of Gina Rinehart’s Hancock Energy to end the battle for control of one Perth Basin onshore gas player.
Strike Energy chief executive Stuart Nicholls says the company has achieved most of its objectives and is content with “second prize” after officiallyStrike bowed to the power and deep pockets of Gina Rinehart’s Hancock Energy on Wednesday as the war over one Perth Basin onshore gas player came to a close.
Strike, which instigated the takeover action in October, is Warrego’s equal partner in the West Erregulla gas project and has the operating rights. “What we were determined to do is to go out there and ensure that there was a greater reflection of the value in the Strike portfolio than what was occurring back in September-October last year.
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