Strike Mulls Suspending Sadie Well

- Strike Mulls Suspending Sadie Well

Wednesday, July 27, 2011
Strike Energy Ltd.

Strike reported the following progress on the testing of the Sadie 1 well (Homeplace Prospect) in the onshore Gulf Coast, Wilcox formation.

Initial fracking of deepest Wilcox zone in the Sadie 1 well has produced non commercial flow rates. The operator is now proposing to suspend the well pending further evaluation. Several shallower potential pay zones exist in the Wilcox and in the younger Cook Mountain interval. Consideration is being given to the testing of some of these intervals.

The work to connect this well to a nearby sales line has essentially been completed providing flexibility for further testing.

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Strike Preps for Testing at Sadie Well

Strike Preps for Testing at Sadie Well

Thursday, March 31, 2011
Strike Energy Ltd.

Strike advised that production casing has been set in preparation for testing at the Sadie-1 well at the onshore Homeplace prospect in the Gulf Coast, Texas, USA.

Gas shows encountered while drilling and subsequent wireline logging indicate potential gas pay intervals in the main Wilcox Formation objective.

The current plan is to test the well direct to sales. Options to tie into nearby pipelines are currently being investigated. It is anticipated that pipeline installation and scheduling of fraccing equipment will enable testing to commence in two to three months.

The Homeplace prospect in the Wilcox Formation, in which Strike holds a 40% working interest, has a prospective gas resource of 15-20 billion cubic feet (Bcf). The prospect has the potential to more than double the Company’s growing gas and condensate reserves.