Warrego Energy notes the announcement by Strike Energy Limited this morning that it intends to make an off-market takeover offer to acquire all of the shares in Warrego that it does not already own for a consideration of 1 new Strike share for each Warrego share. Strike has indicated that it expects to lodge its Bidder's Statement in respect of its offer prior to the end of calendar year 2022. There would then be a 14 day period before Strike can open the offer, followed by a minimum offer period of one month.

Warrego shareholders do not need to take any action in relation to the proposed Strike Takeover Offer at this time.

As previously advised, Warrego is currently preparing its Target's Statement in response to the earlier takeover offer by Hancock Energy to acquire all of the shares in Warrego at an offer price of $0.28 per share.

The Warrego Board will now also consider the proposed Strike Takeover Offer against the Hancock Takeover Offer, to determine which offer, in the Board's view, is superior.

KeyFacts Energy: Warrego Energy Australia country profile   l   Strike Energy Australia country profile