Gina Rinehart’s surprise $1.1 billion buyout of Mineral Resources’ West Australian onshore gas assets is proof that WA gas explorers are unappreciated by the market, the boss of Hancock Prospecting partner Strike Energy said.
Through her flagship company Hancock, Australia’s richest woman last month agreed to buy two onshore gas projects in the Perth Basin from the Chris Ellison-backed MinRes – the latest deal in a scramble for a piece of the WA gas industry.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
