Business
Why the Strike Energy (ASX:STX) share price powered up today
The Strike Energy Ltd (ASX: STX) share price has been rising today. The positive movement comes after the company announced it would enter the renewable energy market.
At the time of writing, shares in the oil and gas explorer are trading for 33 cents each – up 4.76%. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.56%.
Let’s take a closer look at Strike Energy’s announcement.
What did Strike Energy announce?
In a statement to the ASX, Strike Energy announced it had signed a “nonbinding term sheet to acquire 100% of the existing geothermal rights of the Perth Basin via the acquisition of Mid-West Geothermal Power Pty…
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