Strike Energy Limited has announced promising progress across its key exploration assets in the Perth Basin, a region recognized for its emerging gas potential and close proximity to vital pipeline infrastructure. The company recently completed detailed mapping and interpretation of a 3D seismic survey at its Ocean Hill prospect, revealing multiple attractive exploration and appraisal well locations. Enhanced seismic processing, including Pre‐Stack Time Migration and Pre‐Stack Depth Migration techniques, has led to the identification of stacked channels with fewer large-scale faults than previously mapped with 2D surveys. This improved data quality suggests that the original Ocean Hill-1 discovery well may have been drilled in a less-than-optimal position, leaving room for significant upside in the future resource potential. In parallel, Strike’s 2D seismic survey at the Kadathinni prospect has indicated strong potential at both Jurassic and Permian levels. The Kadathinni area, which covers over 1,000 square kilometers in survey area and 484 kilometers of 2D seismic lines, is showing encouraging signals from the Kingia and emerging Eneabba formations. Preliminary prospective resource estimates – with probabilistic success factors of 28% for Kingia and 23% for Eneabba, and a development probability of 60% for both prospects – suggest that Kadathinni could offer substantial volumes of natural gas. These findings set the stage for a planned Tathra-1 exploration well, which the company aims to have drill ready by 2026. Strike Energy’s dominant acreage position in the Perth Basin, coupled with its strategic advantage of low-cost, fast-to-market development—especially at Ocean Hill due to its proximity to a compressor station on the Dampier to Bunbury Natural Gas Pipeline—bolsters the company’s long-term value proposition. Executive Director and Acting CEO Jill Hoffmann highlighted that the seismic results reaffirm the significant growth potential of their 100% owned and operated portfolio, underscoring a disciplined approach to unlocking future value. Bullish sentiment is supported by the technical advancements in seismic data interpretation and the clear potential for material upside to existing contingent resource estimates. The advances at Ocean Hill and the promising initial results at Kadathinni signal an opportunity to capitalize on attractive exploration prospects in a tightening domestic gas market. Conversely, there is a degree of caution among market observers, as both prospects remain in the exploration phase. The planned appraisal programs and uncertainties inherent to exploration investments, particularly with probabilistic resource estimates and the need for further drilling, continue to present risks that could temper near-term optimism. Overall, the latest exploration update from Strike Energy Limited emphasizes a positive directional shift in its exploration strategy within the Perth Basin, offering nuanced insights for traders and investors balancing growth potential with inherent exploration risks.