Strike Energy Provides Project Haber Update

Source: www.gulfoilandgas.com 8/4/2021, Location: Not categorized

• Round 2 of the urea offtake process has closed with 4.75 mtpa of firm offers
• Offtake proposals are for up to 15 years in length which supports future bankability of project

Strike Energy Limited is pleased to advise that it has closed the second round of its urea offtake process for Project Haber’s proposed urea production.

4.75 mtpa of firm proposals with attractive pricing formulas were received for Project Haber’s planned annual production of 1.4 mtpa of urea. The offers received were for up to 15 years in length which can support future bankability of the proposed development.

Strike has subsequently short-listed parties to proceed to negotiate binding agreements and will look to conclude those negotiations over the coming quarter.

Once binding offtake agreements are in place, Strike will then move to market and sell down the equity in the project and has appointed Azure Capital to support this process. Strike’s Board of Directors will meet in the September quarter to review the pre-FEED outcomes from Technip Energies and Haldor Topsoe and will look to make recommendations on the ownership and operating structure for the proposed fertiliser development. These recommendations in conjunction with the latest capital estimate from the pre-FEED will be critical for informing the equity sell down process and subsequent debt sizing and structuring programs where Azure Capital will be supported in debt advisory by Natixis and ANZ.

Strike will continue to update its shareholders as further critical developments and milestones are reached at Project Haber.

This announcement is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company’s Continuous Disclosure Policy.


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