Shares of Strike Energy (ASX:STX) rose as high as 9.5% to A$0.230, marking their most significant intraday gain since February 21st.

The shares achieved their greatest level since February 23rd.

The energy explorer announced it has entered into a two-year gas transportation contract with APA Group.

The agreement allows for a total of 10 terajoules per day of gas to be delivered into the Dampier to Bunbury Natural Gas Pipeline from Strike’s Walyering gas processing facility, starting in late 2024.

Despite this win, Strike Energy’s stock is down approximately 56% for the year as of the last closure.

Strike Energy is a leading energy exploration company based in Australia.