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Strike Oil Provides June 2009 Quarterly Activities Report
Friday July 31, 2009, 11:21 am

Original Announcement: Quarterly Activities Report

Strike Oil provided its June 2009 quarterly activities report, reporting at its onshore gulf coast production is the USA, record year to 30 June, revenue up 127% to $41.1m on over 200% production increase; produced 930 boe per day (7.6 MMcf gas, 175 bbl oil-condensate) from the Rayburn and Mesquite projects for the quarter, delivering: $4.4m oil and gas sales revenue, and 69% gross margin; and 17% increase in Estimated Ultimate Recovery from Rayburn and Mesquite - more than replaces production for the six months to 30 June 2009. The Company also reported that at its Southern Cooper Coal Seam Gas Project in Australian, PEL 96 granted following execution of Native Title agreements: 8,000 to 20,000 PJ prospective CSG resource; low CAPEX, early cashflow project: EPIC Moomba to Adelaide pipeline crosses permit - up to 150 TJ capacity available; and thick coal seams (up to 18m, composite up to 80m) mapped from previous seismic interpretation and petroleum drilling. Drilling is planned to commence in the final quarter of 2009.

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