Strike Oil vor dem möglichen Durchbruch

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Strike Energy Ltd 0,127 € +10,43% Perf. seit Threadbeginn:   -10,56%
 
permanent:

quarterly activities report

 
29.07.08 10:31

AS X Announcement

ASX Code: STX

2 5 July 2008

Strike Oil Limited

ABN 59 078 012 745

The Company Announcement Officer

Australian Stock Exchange Ltd

via electronic lodgement

Our Strengths

strong cash flow

Producer/Explorer with

discoveries

Track record of

portfolio

Geographically diverse

Highly experienced team

partners

Strong experienced

E&P

Innovative approach to

Strike Oil Limited

Level 9, Wesfarmers House

40 The Esplanade

Perth WA 6000

Tel: 08 6464 0400

www.strikeoil.com.au

QUARTERLY ACTIVITIES REPORT -

PERIOD ENDED 30 JUNE 2008

Please find attached Strike Oil Limited's Quarterly Activities Report for the

period ended 30 June 2008.

Yours faithfully

SIMON ASHTON

Managing Director

Further information:

Strike Oil Limited

Simon Ashton - Managing Director

T: 08 6464 0400

E:

strike@strikeoil.com.au

QUARTERLY ACTIVITIES REPORT

FOR THE PERIOD ENDED 30 JUNE 2008

HIGHLIGHTS FOR THE QUARTER

previous quarter;

Oil and gas revenue for the quarter was $9.22 million, up 165% on the

increased by 129%;

Gas production was up 88% for the quarter and oil condensate production

subsequent to end of quarter);

Four Rayburn wells successfully tested and brought onto production (one

focus on highly successful Gulf Coast programme;

Rocky Mountains assets sold for US$2.5 million - proceeds redirected to

Ltd;

US$11.7 million debt facility secured with Commonwealth Bank of Australia

operating cash flows and bank facility;

Further development drilling planned for Gulf Coast - fully funded from

reported range of $35-40 million.

Managing Director’s Report and Outlook

2008/09 revenues now targeting between $50-55 million - up from previously

Overall a very successful June 2008 Quarter which has strengthened the Company

through increased production and substantial monthly revenues that places the

Company in a strong position to develop its interests in the US and Australia.

The successful development of the Rayburn project has underpinned record quarterly

production and a 165% increase in sales revenues from the prior corresponding period.

The company successfully tested and produced from four wells at the Rayburn project,

lifting gross daily production from the Rayburn and Mesquite fields to 38 million cubic

feet of gas and 900 barrels of oil condensate and Strike Oil’s share of daily production

to 8.8 million cubic feet of gas and 219 barrels of oil condensate.

The strong lift in revenues, coupled with the USD debt facility secured in May, will

underpin Strike’s exploration and development activities in the US and Australia going

forward. Production is expected to increase substantially into the next quarter as

additional wells are tested and brought into production on the Rayburn Project.

The 2007/08 oil and gas revenues for the year totalled $15.7 million (up 82% on $8.7

million for 2006/07). The Company’s revenues have now reached record levels of $4

million per month (on track to exceed recent forecasts of $35-40 million for the 2008/09

financial year) and enabling the Company to revise its 2008/09 forecast to $50-55

million based only on estimated production from wells already drilled assuming gas

prices of US$10 per thousand cubic feet (mcf) and oil prices of US$120 per barrel.

Additional success from new wells could see the production increase above these

estimates.

Page 1 of 7

The increase of the Company’s interest in the Gulf Coast, Eaglewood Area

Participation Agreement from 25% to 30% holds the potential for additional revenues

and production from further exploration success.

A strategic decision to sell the Company’s interests in the Rocky Mountains Project

realised $2.5 million, focussing the Company's resources on its Gulf Coast interests.

In addition to its strong revenues , the Company’s US$11.7 million debt facility with the

Commonwealth Bank of Australia provides considerable flexibility to fund the

Company’s exciting exploration and development activities in the US and Australia.

In the development of its Australian interests, the Company progressed the FuturGas

Project, operated in South Australia by its wholly owned subsidiary Hybrid Energy

Australia Pty Ltd, to focus on the project’s significant coal to liquids potential.

Steps were taken to develop the Company’s Carnarvon Basin interests through a

proposal to the Department of Defence for the supply of gas from the Rivoli gas field to

its communication station north of Exmouth. The Department of Defence continues to

fund work to progress the development. The Company also pursued strategies to

secure a cost effective drilling rig for its shallow water acreage in the Carnarvon Basin

Outlook

Going forward Strike Oil is well positioned to effectively develop its interests in both the

US and Australia during the coming year.

In the US its prime focus will be on progressing its successful activities in the Gulf

Coast, Texas which include an intensive development and exploration programme

through to the end of the 2008/09 financial year designed to substantially increase

production and revenue.

In the development of its Australian interests, the company continues to explore

funding options to advance to bankable feasibility study stage the 10,000 bbl per day

coals to liquids project, FuturGas, operated in South Australia by its wholly owned

subsidiary Hybrid Energy Australia Pty Ltd. The company has secured a technology

agreement with the University of Adelaide and with current strong demand for costeffective

liquid fuels there will be significant opportunities to negotiate with industry and

investors in the coming 12 months

In addition, the Company will continue its efforts to finalise a cost effective drilling rig for

its extensive Carnarvon Basin portfolio of prospects and to identify the conventional

and non conventional petroleum potential of its Cooper Basin interests.

Simon Ashton

Managing Director

Page 2 of 7

SIGNIFICANT PROJECT ACTIVITIES

PRODUCTION ACTIVITIES

USA

Revenue Interest)

Rayburn Project, Gulf Coast, Texas (22.8% Working Interest, ~ 17.5% Net

Activities during the quarter continued to be focused on drilling, testing and producing

wells which will have an immediate positive affect on cash flow.

Test Results, rates /day

Well Status Gas Oil Condensate

Duncan 1 On production 10.1 mmcf 260 bbl

Gilbert Freeman 1 On production 3.8 mmcf 126 bbl

Duncan 2 On production 10 mmcf 224 bbl

Hlavinka Duncan 1 On production <50 mcf

Duncan 3 On production 10 mmcf 234 bbl

Gilbert Freeman 2 Awaiting testing

Gilbert Freeman 3 Awaiting testing

Hlavinka GU 1-1

1 Drilling

1

The initial discovery well, Duncan 1, continued to flow for the whole quarter at daily

rates of approximately 10 mmcf of gas and 270 bbl of oil condensate. The well has

now produced over 2.1 billion cubic feet of gas and over 58 thousand barrels of oil

condensate since coming on stream in December 2007.

The Duncan 2 (currently producing 10 mmcf and 230 bbl per day) and Gilbert Freeman

1 (currently producing 4 mmcf and 140 bbl per day) wells were successfully tested and

brought onto production in early April. In late April, production (less than 50 thousand

cubic feet per day) was added from a zone above the Wilcox Formation in the Hlavinka

Duncan 1R well.

The testing of Duncan 3, the fifth successful well on the Rayburn Project, commenced

in the last week of June with all test gas and oil condensate being sold. Results

subsequent to the end of the quarter recorded a test result of 10 mmcf of gas and 234

bbl of oil condensate per day.

The Gilbert Freeman 2 and 3 wells, which have previously encountered gas and were

cased awaiting facilities to be installed, will be tested in the next quarter.

Subsequent to the quarter’s end, the Hlavinka Gas Unit 1-1 well was spudded. This

well is targeting multiple objectives in the Wilcox Formation which could add new

reserves to the project.

Up to two more development wells are planned to be drilled next quarter.

well spudded subsequent to 30 June 2008

Page 3 of 7

Mesquite Project, Gulf Coast, Texas (26.25% Working Interest, ~20% Net Revenue

Interest)

Production from the Mesquite Project was lower than the previous quarter due primarily

to natural decline. Average gross daily production for the quarter was approximately

3.25 mmcf of gas and 52 bbl of oil condensate.

PRODUCTION REVENUE

Strike Oil's Working Interest revenue from gas and oil condensate sales for the quarter

was $9.22 million. This is an increase of 165% on the previous quarter. This result

reflects the substantial impact of bringing the additional wells into production at the

Rayburn Project and strong oil and gas prices.

Production

(Strike Oil WI)

June

Quarter

March

Quarter Movement

Gas

(mmcf) 537 285 88%

Oil

(bbl) 15,310 6,695 129%

Revenue

(Strike Oil WI)

June

Quarter

($'000)

March

Quarter

($'000)

Movement

Gas

7,243 2,693 169%

Oil

1,977 789 151%

Total 9,220 3,482 165%

RESERVES

At Rayburn, the Wilcox wells are targeting 5 bcf per well with upside potential to 10 bcf

per well.

An independent reserve report at Rayburn is planned for next quarter.

EXPLORATION ACTIVITIES

USA

Gulf Coast Projects, Texas

During the quarter the Company increased its working interest in the Eaglewood Area

Participation Agreement in onshore Gulf Coast, Texas from 25% to 30%.

The Agreement controls the relationship that Strike Oil has with Cypress E&P

Corporation in the Gulf Coast exploration programme where prospects containing

greater than 400 bcf of prospective resource have been located and are being

prepared for drilling.

Page 4 of 7

In addition to the increase in its overall interest under the Agreement, Strike Oil

increased its interest in the Flint Prospect from 25% to 35%. The Flint Prospect is a

specific exploration project within the Eaglewood Agreement which has a 50 bcf

prospective resource.

Further exploration drilling is planned later in the year.

Rocky Mountains Projects, Colorado

During the quarter Strike Oil entered into a Purchase and Sale Agreement with a

privately held US company, Pine Ridge Oil & Gas, LLC, to sell the Rocky Mountains

interests that it held in Joint Venture with Comet Ridge Limited.

Settlement on the deal occurred on 26 June 2008 at which time the Company received

approximately US$2.5million as payment of the purchase price and cost

reimbursement.

As previously announced the cash payments and cost savings, in the order of US$4.5

million, will enable Strike Oil to redirect additional funds to its expanded Gulf Coast

programme.

Although Strike Oil will no longer have a direct interest in the Rocky Mountain Projects,

it will, through its 8.34% shareholding in Comet Ridge, retain exposure to the projects,

particularly the imminent 2-3 well Florence drilling programme.

AUSTRALIA

Carnarvon Basin

Efforts continue to secure a suitable, cost effective drilling rig for drilling in the shallow

waters of the Carnarvon Basin. The first well planned to be drilled will be on the

Baniyas Prospect (prospective resource size of P

The Department of Defence is considering a proposal to supply gas from the Rivoli gas

field (Strike Oil WI: 44.5%) to its communications station located north of Exmouth. In

the meantime the Department of Defence continues to fund further work including the

gathering of environmental information to ensure an early and comprehensive

stakeholder engagement upon project sanction.

mean to P10 of 61 to 111 bcf of gas).

Cooper-Eromanga Basins

Two wells drilled in ATP633P in Queensland operated by Joint Venture partner Beach

Petroleum were plugged and abandoned. Oil shows in the Coolangatta 1 well indicate

oil has been generated in the vicinity. Further seismic data may now be acquired to

better define migration pathways and prospective traps.

Progress has recently been made towards the granting of a permit over the PELA 96 in

the southern Cooper Basin in South Australia. The joint venture is working towards

having all the prerequisite documentation in place during the next quarter. The permit

has conventional petroleum potential and non conventional potential in the form of coal

seam gas and insitu coal gasification.

Page 5 of 7

DRILLING SCHEDULE AND PROSPECT INVENTORY

Drilling during the second half of the 2008 calendar year is again expected to be

concentrated in the Gulf Coast, Texas. Efforts are underway to locate drilling services

in the Gulf Coast to add to the current drilling rig under contract.

No drilling is scheduled within Australia during the next two quarters.

The provisional drilling schedule to mid 2009 is attached.

The proposed drilling times are susceptible to change due to rig availability, climatic

conditions, joint venture and regulatory approvals and operator schedules.

BUSINESS DEVELOPMENT

Hybrid Energy Australia Pty Ltd – FuturGas Project

In late June the Company provided an update on the development of its FuturGas

Project, to be located near Kingston in South Australia.

The project has been advanced to incorporate a coal to liquids gasification facility with

integrated electricity generation, and will evaluate carbon capture and storage

technology. The FuturGas facility will have a potential production output of 10,000

barrels of petroleum liquid fuels per day and 40MegaWatts of electricity.

Development of the project to Bankable Feasibility (“BFS“) is planned in a number of

stages culminating in the completion of the BFS, which will include pilot plant testing,

initial liquids production and electricity generation, by the end of 2012.

Funding options to take the project through to BFS continue to be evaluated.

HEALTH SAFETY AND ENVIRONMENT

The company did not record any safety or environmental incidents during the quarter.

CORPORATE

The Company's cash balance at 30 June 2008 was $8.4 million.

In May the Company announced that it had secured a definitive borrowing base facility

agreement (“Facility”) with the Commonwealth Bank of Australia (“CBA“). Under the

agreement CBA will make available to the Company a debt facility of US$11.7 million,

to be repaid over a term of five years.

The Facility is a conventional borrowing base arrangement, secured against the

Company’s production assets at the Mesquite and Rayburn gas fields.

The Facility will be used to support the Company’s intensive Gulf Coast drilling

programme. The Company has the ability to increase the facility limit should additional

reserves be recognised at its production assets.

At 30 June 2008 the Company had drawn down $7.6 million of the Facility.

Page 6 of 7

NEXT QUARTER ACTIVITIES

Complete drilling of the Hlavinka GU 1-1 well at the Rayburn Project;

sales;

Flow test the Gilbert Freeman 2 and 3 wells on the Rayburn Project directly to

Drill up to two more development wells at the Rayburn Project;

Carryout an independent reserve assessment of the Rayburn Project;

Progress the grant of PELA 96 in the Cooper Basin, South Australia;

Western Australia;

Progress the development of the Rivoli gas field, in the Carnarvon Basin,

Continue the project evaluation and funding process for Hybrid Energy.

For further information contact:

STRIKE OIL LIMITED

Registered Office: Share Register Enquiries:

Level 9, Wesfarmers House Computershare Investor Services

40 The Esplanade Level 2, 45 St George’s Terrace

Perth, Western Australia, 6000 Perth, Western Australia 6000

Email:

Website: www.strikeoil.com.au Facsimile: (61-8) 9323 2033

Telephone: (61-8) 6464 0400

Facsimile: (61-8) 6464 0401 Australian Stock Exchange Code: STX

strike@strikeoil.com.au Telephone: (61-8) 9323 2000

Page 7 of 7

 


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permanent:

Angesichts der operativen Erfolge

 
30.07.08 10:31

mit deutlich steigenden Produktions- und Umsatzzahlen kann angesichts des Strike Oil Aktienkurses schon ein wenig Frustration aufkommen.

-outstanding test results duncan 3, von dieser Meldung hatte ich mir ansich ein wenig mehr Schubkraft für den Aktienkurs von Strike Oil gewünscht. So bleibt allerdings die Berfürchtung auch bei kommenden Produktionsdaten nicht mehr Rückenwind zu erhalten.

-quarterly activities report , hier gab es eigentlich keine Überraschungen. Die Produktionsdaten waren mehr oder minder bekannt, somit konnte man sich die Produktions- und Umsatzdaten in etwa selber ausrechnen. Strike Oil ist an dem Punkt angekommen, die laufenden Projekte aus dem Cash Flow finanzieren zu können. Die Produktionsdaten werden in den kommenden Monaten (duncan 3, sowie kommende Wells) weiter deutlich steigen. Ob die Umsätze parallel anziehen werden hängt massgeblich von den Preisentwicklungen bei Öl und Gas ab. So war im QAR deutlich zu sehen wie die Umsätze den Produktionsdaten davongeeilt sind. Eine leicht gegenläufige Entwicklung sollte aber einkalkuliert werden. Auch wenn ich gerade beim NatGas nicht mehr viel Potential nach unten sehe (vgl. Posting 150, Shortpositionen sind bereits auf einem sehr hohen Niveau), so ist der Preis in den letzten Wochen doch bereits deutlich unter die Räder gekommen.

-Börsenklima: Das derzeitige Börsenklima ist nicht förderlich für den Strike Oil Aktienkurs. Mehr gibt es zu diesem Thema eigentlich nicht zu sagen.

Was bedeutet das für mein Strike Oil Engagement?

-Das Management macht einen excellenten Job

-Die Kommunikations- und Informationspolitik ist hervorragend

-Die Finanzlage von Strike Oil ist komfortabel und verbessert sich stetig, der Cash Flow sollte weiterhin stark anziehen. Für das FJ 2008/2009 ist mit einem signifikanten Überschuss zu rechnenen.

-Waschtumstreiber beim Umsatz bleibt das Rayburn Field, neue Wells stehen stehen in Kürze vor dem Produktionsbeginn, daneben wird es neue Bohrungen geben (nähere Infos finden sich im QAR).

-Neue Projekte stehen in Ausstralien auf der Agenda (auch hier der Verweis auf den QAR).

-Langfristig besteht grosses Potential in der Tochter Hybrid Energy.

Es ist wichtig jedes finanzielle Engagement immer wieder in Frage zu stellen um eine Neueinschätzung herbeizuführen. Die Börse mag den Wert von Strike Oil aktuell nicht vernünftig wiederspiegeln, das ist kurzfristig sicher mitunter ein wenig frustrierend, dem langfristigen Investor bietet sich in dieser Situation die Gelegenheit seine Positionen in guten Werten weiter auszubauen. Ich werde in den kommenden Tagen nochmals zukaufen.  Wobei meine grundsätzlich negative (bärische) Haltung zum Aktienmarkt mich hier ein wenig zur Zurückhaltung ermuntert.

Gruß

Permanent

permanent:

operations update

 
30.07.08 11:30

ASX Announcement

Australian Stock Exchange Ltd

ASX Code: STX 30 July 2008 Strike Oil Limited ABN 59 078 012 745 Our Strengths Producer/Explorer with strong cash flow Track record of discoveries Geographically diverse portfolio Highly experienced team Strong experienced partners Innovative approach to E&P Strike Oil Limited Level 9, Wesfarmers House 40 The Esplanade Perth WA 6000 Tel: 08 6464 0400 www.strikeoil.com.au The Company Announcement Officer

via electronic lodgement

RAYBURN PROJECT

OPERATIONS UPDATE

Strike Oil is pleased to provide the following update of its testing and drilling activities at the Rayburn Project in the Gulf Coast, Texas.

     

  1. Duncan 3 continues to produce at test production rates

    (Strike Oil 22.8% Working Interest; Operator Cypress E&P Corporation)

    PRODUCTION

    The Duncan 3 well continues daily production at rates of 10 million cubic feet of gas and 230 barrels of condensate (the same as those reported for the flow tests). Overall field production was maintained at previously reported levels.

    WELL TESTING

    Gilbert Freeman 2

    All the facilities required for the testing of the Gilbert Freeman 2 well have been installed. Testing will commence as soon as the necessary frac materials and services have been sourced. All test gas will be sold.

    Gilbert Freeman 3

    The Gilbert Freeman 3 well is awaiting facilities installation prior to testing being scheduled.

    DRILLING UPDATE

    The well is at a depth of 7,214 ft (2,199 metres). No drilling progress was made during the past week. Current operation (Tuesday, Texas time) is attempting to remediate lost circulation of the drilling fluid prior to drilling ahead.

    Proposed total depth of the well is 12,200 feet (3,719 metres).

    The well, which is targeting Wilcox objectives, is located approximately 9,270 feet (2,825 metres) northeast of the initial discovery well, Duncan 1 and is appraising the Rayburn Field boundaries

    Yours faithfully

    SIMON ASHTON

    Managing Director

    Further information:

    Strike Oil Limited

    Simon Ashton - Managing Director

    T: 08 6464 0400

    E: strike@strikeoil.com.au

       

    1. Gilbert Freeman 2 facilities installed ready for testing

       

    2. Hlavinka Gas Unit 1-1 at 7,214 ft (2,199m)

      RAYBURN PROJECT – WHARTON COUNTY

      Strike Oil Limited ABN 59 078 012 745

      Hlavinka Gas Unit 1-1

    3.  

       

  2.  

permanent:

Relief for America's Energy Crisis

 
30.07.08 17:14
permanent:

Relief for America's Energy Crisis II

 
02.08.08 12:53
permanent:

operations update

 
07.08.08 08:32

ASX Announcement

Australian Stock Exchange Ltd

ASX Code: STX 7 August 2008 Strike Oil Limited ABN 59 078 012 745 Our Strengths Producer/Explorer with strong cash flow Track record of discoveries Geographically diverse portfolio Highly experienced team Strong experienced partners Innovative approach to E&P Strike Oil Limited Level 9, Wesfarmers House 40 The Esplanade Perth WA 6000 Tel: 08 6464 0400 www.strikeoil.com.au The Company Announcement Officer

via electronic lodgement

RAYBURN PROJECT

OPERATIONS UPDATE - GILBERT FREEMAN 2 TESTING COMMENCED

Strike Oil is pleased to provide the following update of its testing and drilling activities at the Rayburn Project in the Gulf Coast, Texas.

     

  1. Gilbert Freeman 2 testing commenced; initial results comparable with other producing wells

    (Strike Oil 22.8% Working Interest; Operator Cypress E&P Corporation)

    WELL TESTING

    Gilbert Freeman 2

    Testing of the Gilbert Freeman 2 well commenced on Monday 4 August (Texas time). The well will be flowed to clean up and allowed to stabilise before flow rates will be reported, likely next month. Results to date have been comparable to other successful wells currently producing in the Rayburn project.

    All test gas and condensate is being sold.

    Gilbert Freeman 3

    The Gilbert Freeman 3 well is awaiting facilities installation prior to testing being scheduled.

    DRILLING UPDATE

    Mud circulation was successfully restored during the past week. The well is currently (Wednesday, Texas time) drilling ahead at a depth of 7,395 feet (2,254 metres).

    Proposed total depth of the well is 12,200 feet (3,719 metres).

    The well, which is targeting Wilcox objectives, is located approximately 9,270 feet (2,825 metres) northeast of the initial discovery well, Duncan 1 and is appraising the Rayburn Field boundaries.

    MANAGING DIRECTOR’S COMMENT

    Strike Oil's Managing Director, Simon Ashton, commenting on the latest testing results stated that:

    "Gilbert Freeman 2 is expected to add substantially to the total Rayburn and Mesquite fields sales which continue at the previously reported gross production rates of over 38 million cubic feet of gas per day and 900 barrels of condensate per day

    ."

    Yours faithfully

    SIMON ASHTON

    Managing Director

    Further information:

    Strike Oil Limited

    Simon Ashton - Managing Director

    T: 08 6464 0400

    E: strike@strikeoil.com.au

     

  2. Hlavinka Gas Unit 1-1 at 7,395 feet (2,254 metres)

    RAYBURN PROJECT – WHARTON COUNTY

    Strike Oil Limited ABN 59 078 012 745

    Hlavinka Gas Unit 1-1

  3.  

     

permanent:

operations update

 
14.08.08 06:23

ASX Announcement

Australian Stock Exchange Ltd

ASX Code: STX 14 August 2008 Strike Oil Limited ABN 59 078 012 745 Our Strengths Producer/Explorer with strong cash flow Track record of discoveries Geographically diverse portfolio Highly experienced team Strong experienced partners Innovative approach to E&P Strike Oil Limited Level 9, Wesfarmers House 40 The Esplanade Perth WA 6000 Tel: 08 6464 0400 www.strikeoil.com.au The Company Announcement Officer

via electronic lodgement

RAYBURN PROJECT

OPERATIONS UPDATE

Strike Oil is pleased to provide the following update of its testing and drilling activities at the Rayburn Project in the Gulf Coast, Texas.

     

  1. Gilbert Freeman 2: testing continues to deliver gas and condensate according to expectations

    (Strike Oil 22.8% Working Interest; Operator Cypress E&P Corporation)

    WELL TESTING

    Gilbert Freeman 2

    Testing of the Gilbert Freeman 2 well continued during the week. Cleanup of the well is still in progress. Gas and condensate rates continue to be in line with expectation and comparable to other successful wells currently producing in the Rayburn project.

    All test gas and condensate is being sold.

    Gilbert Freeman 3

    The Gilbert Freeman 3 well is awaiting facilities installation prior to testing being scheduled.

    PRODUCTION

    Rayburn production from the other wells continues to be maintained at expected levels and is being enhanced by the flow from Gilbert Freeman 2.

    DRILLING UPDATE

    The 7 5/8 inch liner has been successfully set between 6,799-7,913 feet (2,072-2,411 metres) as planned. The well is currently drilling ahead at a depth of 8,230 feet (2,509 metres) towards the objective section which should take 1-2 weeks to reach.

    Proposed total depth of the well is 12,200 feet (3,719 metres).

    The well, which is targeting Wilcox objectives, is located approximately 9,270 feet (2,825 metres) northeast of the initial discovery well, Duncan 1 and is appraising the Rayburn Field boundaries.

    Yours faithfully

    SIMON ASHTON

    Managing Director

    Further information:

    Strike Oil Limited

    Simon Ashton - Managing Director

    T: 08 6464 0400

    E: strike@strikeoil.com.au

     

  2. Rayburn production targets being maintained

     

  3. Hlavinka Gas Unit 1-1: liner set and drilling towards objective

    RAYBURN PROJECT – WHARTON COUNTY

    Strike Oil Limited ABN 59 078 012 745

    Hlavinka Gas Unit 1-1

  4.  

     

     

permanent:

Drilling Update

 
21.08.08 08:23

ASX Announcement

Australian Stock Exchange Ltd

ASX Code: STX 21 August 2008 Strike Oil Limited ABN 59 078 012 745 Our Strengths Producer/Explorer with strong cash flow Track record of discoveries Geographically diverse portfolio Highly experienced team Strong experienced partners Innovative approach to E&P Strike Oil Limited Level 9, Wesfarmers House 40 The Esplanade Perth WA 6000 Tel: 08 6464 0400 www.strikeoil.com.au The Company Announcement Officer

via electronic lodgement

RAYBURN PROJECT

OPERATIONS UPDATE

Strike Oil is pleased to report on the progress of its testing and drilling activities at the Rayburn Project in the Gulf Coast, Texas.

     

  1. Gilbert Freeman 2: testing at substantial production rates

    (Strike Oil 22.8% Working Interest; Operator Cypress E&P Corporation)

    WELL TESTING

    Gilbert Freeman 2

    The Gilbert Freeman 2 well is producing at substantial rates while cleanup and return of the frac fluid continues. Results, which are in line with expectation and comparable to producing Rayburn wells, are expected to be available for reporting to the regulatory authority in the next few weeks.

    All test gas and condensate is being sold.

    Gilbert Freeman 3

    The Gilbert Freeman 3 well is awaiting facilities installation prior to testing being scheduled.

    PRODUCTION

    Production from all Rayburn producing wells, including Gilbert Freeman 2, is being maintained at expected levels.

    DRILLING UPDATE

    The well has reached its proposed total depth of 12,200 feet (3,719 metres). Current operation (Wednesday, Texas time) is preparing to run wireline logs to evaluate gas shows encountered while drilling the Wilcox Formation objectives.

    The well is located approximately 9,270 feet (2,825 metres) northeast of the initial discovery well, Duncan 1 and is appraising the Rayburn Field boundaries.

    Duncan 4

    The Operator, Cypress E&P Corporation, has advised that the rig will be moved to drill Duncan 4, the ninth well in the Rayburn Field, immediately after drilling operations have been completed on the current well.

    Yours faithfully

    SIMON ASHTON

    Managing Director

    Further information:

    Strike Oil Limited

    Simon Ashton - Managing Director

    T: 08 6464 0400

    E: strike@strikeoil.com.au

     

  2. Rayburn Field: production targets being maintained

     

  3. Hlavinka Gas Unit 1-1: preparing to run wireline logs at total depth to evaluate shows in Wilcox Formation

     

  4. Duncan 4: ninth Rayburn Project well , to commence shortly

    RAYBURN PROJECT – WHARTON COUNTY

    Strike Oil Limited ABN 59 078 012 745

    Hlavinka Gas Unit 1-1

  5.  

     

     

     

permanent:

Rayburn Operations Update

 
26.08.08 08:54

ASX

 Announcement        ASX  Code:  STX 26  August  2008 Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

     

  1.  

Hlavinka  Gas  Unit  11:   Interpreted  gas  pay  in  Wilcox;  test  interval  to  be  determined   Duncan  4:  Rig  moving  to  location   Gilbert  Freeman  3:  Flow  testing  to  commence  early  September  Production:   Levels   maintained  

RAYBURN

 PROJECT    WHARTON  COUNTY  

(Strike  Oil  22.8%  Working  Interest;  Operator  Cypress  E&P  Corporation)  

 

DRILLING

 

 UPDATE  

Hlavinka

 Gas  Unit  11  

At  the  Havlinka  Gas  Unit  11  well,  which  was  drilled  to  appraise  the  Rayburn  Field  boundaries,  wireline  logs  were  successfully  run  at  the  total  depth  of  12,200  feet  (3,719  metres).   

The  logs  confirm  the  presence  of  gas  in  multiple  sands  of  interpreted  poorer  quality  than  previous  wells  within  the  Wilcox  Formtion  at  Rayburn.  As  a  consequence,  the  partners  have  agreed  to  defer  the  decision  on  which  intervals  to  test  until   some  equivalent  intervals  in  other  Rayburn  Fild  wells  have  been  tested.  

A  retainer  plug  has  been  set  in  the  well  and  the  rig  is  currently  being  moved  to  the  next  location.  The  retainer  will  allow  the  well  to  be  reentered  later  after  the  results  from  further  testing  in  other  Rayburn  Field  wells  have  been  analysed.  Gas  shows  were  also  encountered  in  the  shallower  Cook  Mountain  interval  which  will  also  be  considered  for  evaluation.   Oil  Limited   ABN  59  078  012  745  

The  Hlavinka  Gas  Unit  11  well  is  located  approximately  9,270  feet  (2,825  metres)  northeast  of  the  initial  discovery  well,  Duncan  1.  

Duncan

 4  

The  rig  is  currently  being  moved  to  the  Duncan  4  location.  Duncan  4  will  be  the  ninth  well  in  the  Rayburn  Field.  Further  details  will  be  released  closer  to  the  spud  date.  

WELL

 TESTING  

 

Gilbert

 Freeman  3   

The  Gilbert  Freeman  3  well  which  recorded  elevated  gas  readings  over  several  intervals  within  the  Wilcox  Formation  during  June,  is  scheduled  for  testing  during  the  first  week  of  September.  

Installation  is  on  schedule  for  all  the  necessary  facilities  to  allow  test  gas  and  condensate  from  the  Gilbert  Freeman  3  well  t  be  produced  to  sales.   

PRODUCTION

 

 

Production  from  all  the  Rayburn  producing  wells,  including  test  gas  and  condensate  from  Gilbert  Freeman  2,  continues  at  expected  levels.  

Results  of  the  testing  of  Gilbert  Freeman  2  are  scheduled  for  reporting  to  the  regulatory  authority  early  next  month.  

 

MANAGING

 DIRECTOR’S  COMMENT  

 

Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  latest  drilling  and  testing  results  stated  that:  

"The  results  from  the  Hlavinka  Gas  Unit  11  well  demonstrate  that  gas  appears  to  extend  over  a  substantial  part  of  the  structure  however  at  this  specific  location  an  assssment  of  the  commerciality  of  the  zones  encountered  will  need  to  await  further  evaluation  after  other  Rayburn  Field  wells  havebeen  tested.  Overall  the  drilling  and  testing  programme  at  Rayburn  is  proceeding  extremely  well  with  all  producing  wells  including  Gilbert  reeman  2  retaining  consistent  levels  of  production  of  both  gas  and  condensate.    Oil  Limited   ABN  59  078  012  745  

 

 

The

 

 results  of  the  Gilbert  Freeman  2  well  will  be  confirmed  in  the  next  few  weeks  and  the  testing  of  Gilbert  Freeman  3  is  due  t  commence  in  early  September.  

In

 addition,  the  development  programme  which  includes  at  least  two  further  development  wells  before  the  end  of  the  year,  continues  on  schedule  with  Duncan  4  due  to  spud  shortly."  

 

Yours  faithfully  

SIMON  ASHTON  

Managing  Director  

Further

 

 information:  Strike  Oil  Limited  

Simon  Ashton  ‐ Managing  Director  

T:   08  6464  0400  

E:   strike@strikeoil.com.au

 

 

 

 

 

 

 

 

 

Strike

      

 

  

 

 

 

 

 

 

 

 

 

 

 

Strike  

 

 

  •  

     

  •  

     

  •  

     

     

     

    The  Company  Announcement  Officer  

    Australian  Stock  Exchange  Ltd  

    via

     electronic  lodgement  

     

    RAYBURN

     PROJECT

     

    OPERATIONS

     UPDATE  

    Strike  Oil  is  pleased  to  report  on  the  progress  of  its  testing  and  drilling  activities  at  the  Rayburn  Project  in  the  Gulf  Coast  Texas.  

     

     

     

    permanent:

    GF2 Flowrates

     
    01.09.08 08:27

     

     Announcement        ASX  Code:  STX 1  September  2008   Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    Gilbert  Freeman  2  outstanding  flow  rate  adds  9  million  cubic  feet  gas  and  245  barrels  oilcondensate  per  day.  Gross  production  from  Strike  Oil’s  projects  in  the  Gulf  Coast  (Rayburn  and  Mesquite  combined)  now  at  around  46.5  million  cubic  feet  of  gas  and  1,175  barrels  of  oilcondensate  per  day.   Strike  Oil’s  net  production  10.7  million  cubic  feet  of  gas  and  270  barrels  of  oilcondensate  per  day.  Gilbert  Freeman  3  flow  test  to  commence  this  week.  Duncan  4  to  spud  this  week.  

    RAYBURN

     PROJECT    WHARTON  COUNTY

    (Strike  Oil  22.8%  Working  Interest;  Operator  Cypress  E&P  Corporation)   TESTING  

     

    Gilbert

     Freeman  2  

    The  flow  testing  of  the  Gilbert  Freeman  2  well  has  been  completed.  The  following  information  has  been  reported  to  the  Texas  Railroad  Commission,  the  state  regulatory  body;  

    Gas  Rate:  8.976  million  cubic  feet  per  day  

    OilCondensate  Rate:  245  barrels  per  day  

    Flowing  Tube  Pressure:  5,434  psia  

    Choke  Size:  17/64  inch  Oil  Limited   ABN  59  078  012  745    Freeman  3  

    Flow  testing  of  the  Gilbert  Freeman  3  well  is  scheduled  to  commence  this  week.  The  results  of  the  flow  tests  will  not  be  available  for  several  weeks.  

    DRILLING

     

     UPDATE  

    Duncan

     4  

    The  Duncan  4  well  is  scheduled  to  spud  sometime  this  week.  

    Proposed  total  depth  of  the  well  is  12,200  feet  (3,719  metres).  The  well  is  expected  to  take  30  to  35  days  from  spud  to  reach  total  depth.   

    The  well,  which  is  targeting  Wilcox  objectives,  is  located  approximately  6,677  feet  (2,035  metres)  southwest  of  the  initial  discovery  well,  Duncan  1.   

    MANAGING

     DIRECTOR’S  COMMENTS  

     

    Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  test  results  and  the  increase  in  production,  stated:  "The  flow  from  the  Gilbert  Freeman  2  well  is  another  outstanding  result  at  Rayburn.  It  lifts  the  gross  production  from  the  Rayburn  and  Mesquite  Projects  to  46.5  million  cubic  feet  of  gas  per  day  and  1,175  barres  of  condensate  per  day.   

    Strike

     

     Oil’s  net  production  from  its  Gulf  Coast  projects  being  10.7  million  cubic  feet  of  gas  and  270  barrels  of  oilcondensate  per  day.  This  results  in  revenue  forecasts  greater  than  $4  million  per  month  even  allowing  for  the  slight  drop  in  oil  and  gas  prices.  

    With

     two  wells  waiting  testing,  one  well  about  to  spud  and  an  ongoing  Gulf  Coast  drilling  program,  production  is  expected  to  grow  from  this  very  exciting  program"  

     

    Yours  faithfully  

    SIMON  ASHTON  

    Managing  Director   information:  Strike  Oil  Limited  

    Simon

     Ashton  ‐ Managing  Director  

    T:

      08  6464  0400  

    E:

      strike@strikeoil.com.au

     

     

     

     

    Further

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Gilbert

     

     

    WELL

     

     

     

    Strike  

     

     

  •  

  •  

  •  

  •  

  •  

  •  

     

     

     

     

     

     

    The  Company  Announcement  Officer  

    Australian  Stock  Exchange  Ltd   electronic  lodgement  

     

    RAYBURN

     PROJECT

     

    GILBERT

     FREEMAN  2  INCREASES  RAYBURN  PRODUCTION  BY  25  PERCENT

     

    Strike  Oil  is  pleased  to  announce  successful  flow  test  results  from  its  Gilbert  Freeman  2  well  which  has  resulted  in  increased  roduction  at  the  Rayburn  Project  in  the  Gulf  Coast,  Texas  by  25  percent.  

     

     

     
     

     

     

     

    via

     

     

    ASX

    permanent:

    2008 GOC Presentation

     
    03.09.08 07:35

    http://www.asx.com.au/asx/statistics/...pe=D&releasedDuringCode=W

    Eine Bestätigung der Ziele und der Unterbewertung des Unternehmens.

    Permanent

    Knappschafts.:

    HGU1-1

    3
    03.09.08 19:29

    HGU1-1

    Die Well ist 2,8 km nordöstlich von Duncan #1 und somit "am Rande" der Formation platziert (man sieht das sehr gut auf CBBs Karte). Der Zweck wurde beschrieben als: "to appraise the Rayburn Field bounderies". Diese Well hatte somit a priori ein höheres Erfolgsrisiko.

    Das Ergebniss ist im Prinzip nicht schlecht - wir haben im Middle Wilcox-target "presence of gas in multiple sands" und darüber hinaus auch "gas shows [...] in the shallower Cook Mountain Formation" - das ist alles prima!

    Jedoch ist die Reservoir-Qualität schlechter - das heisst relativ sicher, dass wir schlechtere Flowrates haben werden als bisher (diese sind jedoch überragend, wie ihr wisst) und die Menge an Gas, die mit dieser Well gefördert werden kann, ist vermutlich deutlich kleiner als bei den bisherigen sehr erfolgreichen wells.

    Immerhin spricht STX von "interpreted gas pay in Wilcox" - das drückt sehr deutlich aus, dass man bei HGU1-1 eine kommerzielle Gas-Produktion erreichen wird. Die Well ist somit relativ sicher kein kompletter Fehlschlag.


    Offensichtlich hat die Well noch kein Production-Casing bekommen - hierzu muss man sich erinnern, dass die Kosten für "Completion" and Testing etwa auf A$2-3 Mio. belaufen. Man wartet nun auf Ergebnisse weitere Wells, bevor man die Well-Completion beginnt. Ich lese aus der News, dass man wohl bei zukünftigen Developement wells Zonen unterschiedlicher Reservoir-Qualitäten erwartet, so dass man dann auch Zonen schlechterer Reservoirqualität ohne volles finazielle Risiko (mit-) testen kann. Eine wichtige Frage hierbei scheint zu sein, welche Zone es wert ist bei HGU1-1 zu fokussieren.

    Schade ist halt, dass man nun wohl noch einige Monate auf ein klares Ergebnis bei HGU1-1 warten muss, was leider wenig hilfreich für die erste Bestimmung der möglichen Feldgröße ist.

    Anbei, was ich hierzu auf Hotcopper verffentlicht haben (... übrigens beschwert man sich derzeit auch in Australien, dass wir (CBB und ich) zuwenig schreiben Strike Oil vor dem möglichen Durchbruch 4671236 ):


    "[...] What I like is: “Interpreted gas pay in Wilcox” – if you decode their language, they used such a term in the past only if the really expect that the well will be a commercial producer. Therefore, I don’t expect that HGU1-1 will be a complete duster.

    But obviously they have some uncertainties – It seems that the well is not cased for production test (but a retainer plug has been set). One keeps in mind that the costs for completion and testing a Middle Wilcox well are around $2-3 mln.

    They avoid this investment until they gain more certainty about the chance of success for this obviously tighter reservoir zones. Perhaps they expect that they will have some development wells in the future with mixed reservoir qualities where they can test the commercial potential of the zones of poorer quality without a full financial risk. It seems also that a question is not only “if” a zone could be commercial but which one is it worth to focalize.

    Unfortunately this also means we won’t have a clear result from HGU1-1 for months ... which is not a big help for assessing the potential field size … that’s a pity

    Next week we will have an investors update from Simon Ashton at the Good Oil Conference, lets wait if we get some more comments about the status quo of the Gulf Coast program."




    Am Mittwoch präsentiert Simon Ashton auf der "Good Oil Conference" - die Präsentation wird bei der ASX als News veröffentlicht - wir werden also nächste Woche ein Investors Update haben. Hier erwarte ich aktuelle Erläuterungen zum Gulf Coast Programm und darüberhinaus etwas zu Carnarvon-Basin und HybridEnergy - mal abwarten.

    Zudem stehen wir kurz vor der Veröffentlichung der GF2 Flowrates -vielleicht gibt es ja nächste Woche den grossen PR-Hammer mit der Präsi: erste Zertifizierung der Feldgröße und Flowrates von GF2 (die ja wohl sehr gut ausfallen werden) ...

    permanent:

    Conoco Phillips steigt für Milliarden in Australie

     
    09.09.08 12:01

    Joint-Venture

    Conoco Phillips steigt für Milliarden in Australien ein

    von Dirk-Hinrich Heilmann

    Das Interesse internationaler Konzerne an den gewaltigen Kohlenflözgas-Reserven Australiens wächst. Der drittgrößte US-Ölkonzern Conoco Phillips will acht Mrd. Dollar in ein Joint-Venture mit dem australischen Gasversorger Origin Energy investieren – eine Investition, die dem britischen Konkurrenten BG Group das Leben erschwert.

    http://www.handelsblatt.com/unternehmen/industrie/...lien-ein;2034872

     

    permanent:

    Operations Update

     
    10.09.08 08:46

    ASX

     Announcement        ASX  Code:  STX 10  September  2008   Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

       

    1.  

    Duncan  4:  Well  spudded   Gilbert  Freeman  3:  Flow  testing  and  sales  commenced  Production:   Expected  levels   maintained  

    RAYBURN

     PROJECT    WHARTON  COUNTY  

    (Strike  Oil  22.8%  Working  Interest;  Operator  Cypress  E&P  Corporation)  

     

    DRILLING

     

     UPDATE  

    Duncan

     4  

    The  Duncan  4  well  was  spudded  on  2  September  2008  (Texas  time).   This  morning  (Tuesday,  Texas  time)  the  well  was  drilling  ahead  at  7,580  feet  (2,310  metres).   The  13  3/8  inch  casing  was  previously  set  at  2,680  feet  (817  metres).  

    Proposed  total  depth  of  the  well  is  12,200  feet  (3,719  metres).   

    The  well,  which  is  targeting  Wilcox  objectives,  is  located  approximately  6,677  feet  (2,035  metres)  southwest  of  the  initial  discovery  well,  Duncan  1.   

    WELL

     TESTING  

     

    Gilbert

     Freeman  3   

    Flow  testing  of  the  Gilbert  Freeman  3  well  which  recorded  elevated  gas  readings  over  several  intervals  within  the  Wilcox  Formaton  has  commenced.  Test  gas  and  oil  condensate  is  being  produced  to  sales.   Oil  Limited   ABN  59  078  012  745  

    PRODUCTION

     

     

    Production  from  the  Mesquite  field  and  all  the  Rayburn  producing  wells  is  being  maintained  at  approximately  46.5  million  cubic  eet  of  gas  per  day  and  1,175  barrels  of  oilcondensate  per  day.  Strike  Oil’s  share  is  10.7  million  cubic  feet  of  gas  and  270  barrels  of  oilcondensate  per  day.  

     

    MANAGING

     DIRECTOR’S  COMMENT  

     

    Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  latest  drilling  and  testing  results  stated  that:  

    "Rapid

     operational  advancements  continue  to  be  made  at  Rayburn,  which  are  expected  to  result  in  increased  production."  

     

    Yours  faithfully  

    SIMON  ASHTON  

    Managing  Director  

    Further

     

     information:  Strike  Oil  Limited  

    Simon  Ashton  ‐ Managing  Director  

    T:   08  6464  0400  

    E:   strike@strikeoil.com.au

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Strike  

     

     

     

  •  

     

  •  

     

     

     

     

    The  Company  Announcement  Officer  

    Australian  Stock  Exchange  Ltd  

    via

     electronic  lodgement  

     

    RAYBURN

     PROJECT  ‐ OPERATIONS  UPDATE  

    Strike  Oil  is  pleased  to  report  on  the  progress  of  its  activities  at  the  Rayburn  Project  in  the  Gulf  Coast,  Texas.  

     

     

    permanent:

    Abstand zu IKE ausreichend

     
    14.09.08 10:55
    permanent:

    keine Schäden durch Ike

     
    16.09.08 08:22

    ASX

     Announcement        ASX  Code:  STX 16  September  2008   Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

       

    1.  

    No  damage  to  facilities  or  harm  to  personnel  Duncan  4:  drilling  to  recommence  this  week  Gilbert  Freeman  3:  flow  testing  recommenced  Production:  returned  to  preshut  in  rates  

    RAYBURN

     PROJECT    WHARTON  COUNTY  

    (Strike  Oil  22.8%  Working  Interest;  Operator  Cypress  E&P  Corporation)  

     

    DRILLING

     

     UPDATE  

    Duncan

     4  

    The  drilling  of  the  Duncan  4  well  was  suspended  on  12  September  2008  (Texas  time)  in  preparation  to  ride  out  hurricane  Ike.  The  well  was  at  a  depth  of  7,810  feet  (2,380  metres).  Drilling  is  expected  to  recommence  during  the  week.  

    Proposed  total  depth  of  the  well  is  12,200  feet  (3,719  metres).   

    The  well,  which  is  targeting  Wilcox  objectives,  is  located  approximately  6,677  feet  (2,035  metres)  southwest  of  the  initial  discovery  well,  Duncan  1.   Oil  Limited   ABN  59  078  012  745  

    WELL

     TESTING  

     

    Gilbert

     Freeman  3   

    Flow  testing  of  the  Gilbert  Freeman  3  well  was  suspended  prior  to  hurricane  Ike  reaching  Texas.  Testing  has  recommenced.  

    PRODUCTION

     

     

    Production  from  both  the  Mesquite  and  Rayburn  fields  was  shut  in  prior  to  hurricane  Ike  reaching  Texas.  The  operator  has  reported  that  there  appears  to  be  no  damage  to  facilities  at  either  field.  Production  has  recommenced  and  has  returned  to  preshut  in  rates.   

     

    MANAGING

     DIRECTOR’S  COMMENT  

     

    Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  impact  of  hurricane  Ike  said;  

    "Fortunately

     

     the  centre  of  the  hurricane  passed  to  the  east  of  our  operations  and  as  a  result  we  suffered  no  significant  damage.  The  operator  was  able  to  get  production  back  on  line  very  quickly  and  we  expect  to  be  back  to  drilling  during  the  week.  

    We

     commend  Cypress  on  taking  all  the  necessary  precautions  to  minimise  any  potential  damage  to  the  facilities  and  harm  to  its  pople."  

    Yours  faithfully  

    SIMON  ASHTON  

    Managing  Director  

    Further

     

     information:  Strike  Oil  Limited  

    Simon  Ashton  ‐ Managing  Director  

    T:   08  6464  0400  

    E:   strike@strikeoil.com.au

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Strike  

     

     

  •  

     

  •  

     

  •  

     

     

     

     

    The  Company  Announcement  Officer  

    Australian  Stock  Exchange  Ltd  

    via

     electronic  lodgement  

     

     

     

    GULF

     COAST  ‐ OPERATIONS  UPDATE  

    Strike  Oil  is  pleased  to  report  that  there  has  been  no  damage  to  its  facilities  onshore  Gulf  Coast,  Texas  as  a  result  of  hurricane  Ike.  All  operations  were  suspended  late  last  week  as  a  precautionary  measure.  

     

     

    permanent:

    Operations Update

     
    24.09.08 06:35

    ASX

     Announcement        ASX  Code:  STX 24  September  2008    Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

       

    1.  

    Drilling:  Duncan  4  drilling  ahead  at  9,815  ft  (  2,992  m)  Testing:  Gilbert  Freeman  3  flow  testing  continuing  Production:  continues  at  expected  levels  

    RAYBURN

     PROJECT    WHARTON  COUNTY  

    (Strike  Oil  22.8%  Working  Interest;  Operator  Cypress  E&P  Corporation)  

     

    DRILLING

     

     UPDATE  

    Duncan

     4  

    The  drilling  of  the  Duncan  4  well  recommenced  on  17  September  2008.   At  the  time  of  reporting  (Tuesday  23  September,  Texas  time)  the  well  was  drilling  ahead  at  a  depth  of  9,815  feet  (2,992  metres).   

    Proposed  total  depth  of  the  well  is  12,200  feet  (3,719  metres).   

    The  well,  which  is  targeting  Wilcox  objectives,  is  located  approximately  6,677  feet  (2,035  metres)  southwest  of  the  initial  discovery  well,  Duncan  1.   Oil  Limited   ABN  59  078  012  745  

    WELL

     TESTING  

     

    Gilbert

     Freeman  3   

    Flow  testing  of  the  Gilbert  Freeman  3  is  continuing  as  planned.  

    PRODUCTION

     

     

    Production  from  all  the  Mesquite  and  Rayburn  producing  wells  continues  at  expected  levels.  

    Yours  faithfully  

    SIMON  ASHTON  

    Managing  Director  

    Further

     

     information:  Strike  Oil  Limited  

    Simon  Ashton  ‐ Managing  Director  

    T:   08  6464  0400  

    E:   strike@strikeoil.com.au

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Strike  

     

     

  •  

     

  •  

     

     

     

     

     

    The  Company  Announcement  Officer  

    Australian  Stock  Exchange  Ltd  

    via

     electronic  lodgement  

     

     

     

    GULF

     COAST  ‐ OPERATIONS  UPDATE  

    Strike  Oil  is  pleased  to  report  that  all  its  operations  in  Gulf  Coast,  Texas  have  returned  to  normal  after  hurricane  Ike.   

     

     

    permanent:

    operations update

     
    09.10.08 07:55

    ASX

     Announcement        ASX  Code:  STX 9  October  2008 Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

       

    1. -
    2.  

      Duncan  Ansley  Gas  Unit  1‐1   spudded  

       

    3. -
    4.  

      Continuous  12  month  drilling  programme   scheduled  

       

    5. -
    6.  

      2‐3  exploration  wells  scheduled  from  November  

       

          Testing:   

       

    7. -
    8.  

      Gilbert  Freeman  3  testing  of  further  zones    

         

            Production  and  Revenue:   

         

      1. -
      2.  

        10  MMcfd  gas  and  280  bbl  oil‐condensate  maintained  

         

      3. -
      4.  

        Monthly  revenue  continues  to  exceed  $4  million   

         

      5. -
      6.  

        Reserves  report  due  soon  

         

        DRILLING

         UPDATE   

        Duncan

         Ansley  Gas  Unit  11  

         

        The  tenth  well  in  the  Rayburn  project,  Duncan  Ansley  Gas  Unit  11,  spudded  on  7  October  (Texas  time).    On  8  October  (Texas  time)  the  well  was  at  a  depth  of  2,465  feet  (751  metres).  

        The  well,  which  is  targeting  Wilcox  objectives,  is  located  5,146  feet  (1,568  metres)  eastnortheast  of  the  initial  discovery  well,  Duncan  1  (refer  to  attached  map  for  location  of  all  wells  drilled  to  date).  

        Proposed  total  depth  of  the  well  is  12,200  feet  (3,719  metres).  The  well  is  expected  to  take  30  to  35  days  from  spud  to  reach  total  depth.   

        Strike  Oil  has  a  22.8%  Working  Interest  in  the  Rayburn  project.  Oil  Limited   ABN  59  078  012  745  

        Forward

         Drilling  Programme  

        The  current  plan  is  to  maintain  a  continuous  drilling  programme  over  the  next  12  months.  

        After  the  drilling  of  the  current  Duncan  Ansley  Gas  Unit  11  well  in  the  Rayburn  project  the  rig  is  scheduled  to  drill  two  to  three  exploration  wells  over  the  next  few  months  before  retuning  to  drill  further  appraisal/development  wells  on  the  Rayburn  field.  

        The  first  exploration  well  is  likely  to  be  on  the  Tumbleweed  prospect,  adjacent  to  Strike’s  Mesquite  project  in  Jackson  County.  The  prospective  resource  for  this  prospect  is  40  Bcf  (billion  cubic  feet).   

        Strike  Oil  has  a  30%  Working  Interest  in  the  prospect.  

        The  second  exploration  well  is  planned  be  on  the  50  Bcf  Flint  prospect  in  Fort  Bend  County.   

        Strike  Oil  has  a  35%  Working  Interest  in  the  prospect.  

        More  information  will  be  released  at  the  time  of  spudding  the  respective  wells.  

        WELL

         

         TESTING  

        Gilbert

         Freeman  3  

        Multiple  zones  in  the  well  are  planned  to  be  tested.  Flow  testing  of  the  first  zone  is  continuing  as  planned  with  test  gas  and  oilcondensate  being  produced  to  sales.  

        Further  zones  will  be  tested  over  the  coming  weeks  with  flow  rates  likely  to  be  reported  in  the  next  30  to  60  days.  

        PRODUCTION

         AND  REVENUE  

        Net  production  to  Strike  Oil  from  all  Mesquite  and  Rayburn  wells  is  according  to  forecast  at  around  10mmcfd  of  gas  and  280  bbl  f  oilcondensate  per  day.  

        Revenue  from  gas  and  oilcondensate  sales  continues  to  exceed  $4  million  per  month  despite  lower  commodity  prices.  

        A  reserves  and  resources  statement  for  the  Gulf  Coast  projects  is  due  for  completion  in  the  next  12  weeks.  Oil  Limited   ABN  59  078  012  745  

        MANAGING

         DIRECTOR’S  COMMENT  

        Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  plans  for  the  rest  of  2008  and  for  2009  stated  that:  

        "The  active  drilling  programme  in  the  Gulf  Coast  continues  and  further  exploration  drilling  is  due  to  start  next  month.  This  will  provide  time  for  further  interpretation  of  the  results  from  the  first  ten  wells  on  Rayburn  prior  to  designing  the  fuure  appraisal  and  development  programme  which  may  include  drilling  some  additional  potential  pay  zones  within  the  Wilcox  Formaton  

        In

         

         the  meantime  our  production  continues  to  perform  to  expectation  and  should  increase  with  the  testing  of  the  new  zones  in  theGilbert  Freeman  3  well.  

        Despite

         the  recent  decline  in  commodity  prices  the  company’s  revenue  continues  to  meet  its  monthly  forecast".   

         

        Yours  faithfully  

        SIMON  ASHTON  

        Managing  Director  

        Further

         

         information:  Strike  Oil  Limited  

        Simon  Ashton  ‐ Managing  Director  

        T:   08  6464  0400  

        E:   strike@strikeoil.com.au

         

        HlavinkaGU1-1(Suspended)HlavinkaDuncan 1R(Non Wilcox Producer)1000mGilbert Freeman 1(Producer)Gilbert Freeman 2(Producer)Duncan-1(Producer)Duncan AnsleyGU1-1(New Well Location)Duncan 3 (Producer)Duncan 2ST1 (Producer)Duncan 4 (Suspended, WxP&A’d)Gilbert Freeman 3(Producer)

        Rayburn Project Rayburn Project Wilcox Producers unless otherwise indicated

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

          

         

         

         

         

         

         

        Strike  

         

        Strike  

           

           

           

           

          The  Company  Announcement  Officer  

          Australian  Stock  Exchange  Ltd  

          via

           electronic  lodgement  

           

          GULF

           COAST  ‐ OPERATIONS  UPDATE  

           

          Strike  Oil  is  pleased  to  report  on  the  steady  progress  of  its  activities  in  the  Gulf  Coast,  Texas.  

           

           

              Drilling:   

           

          permanent:

          Natural Gas May Get a Boost from Obama

           
          05.11.08 18:18

          Natural Gas May Get a Boost from ObamaBARACK OBAMA, ENERGY, ALTERNATIVE ENERGY, OIL COMPANIES, OIL, NATURAL GAS, COAL, POLICY, OIL PRICE,Reuters| 05 Nov 2008 | 11:57 AM ET

          The election of Democratic Sen. Barack Obama to the U.S. presidency should be a boon to natural gas producers, but the forecast is turning dark for oil and coal industries already coping with falling prices.

          The potential regulation of carbon dioxide emissions and the threat of a "windfall profits" tax on oil majors such as Exxon Mobil , Chevron and ConocoPhillips have been two major themes of the Obama campaign.

           

          Both moves could erode the massive profits those companies have posted on the back of high crude oil prices, industry experts said.

          High oil prices usually benefit companies such as Exxon, which last week set a U.S. record by posting quarterly operating profit of $13.4 billion, but Obama's proposals have prompted some analysts to warn investors away from the sector.

          "We believe that some of the Obama policies, such as a windfall tax on energy and full CO2 auctions, may lead to a negative result for the industry if (he is) elected," analysts at Sanford Bernstein said in a pre-election note to investors.

          Obama, who became the president-elect in Tuesday's vote, campaigned on a platform of increasing fuel efficiency in the U.S. auto fleet and reducing crude oil imports that make up about three-quarters of the nation's supply.

          The Illinois senator, like his vanquished Republican rival Sen. John McCain, supports a trading system that would set prices for companies to emit carbon dioxide.

          That policy would hurt Massey Energy , Peabody Energy , Arch Coal and other producers of coal, long one of the cheapest forms of energy in the United States and the source of half the nation's electricity.

          That could be an opening for the natural gas industry to boost its 20 percent share in the nation's power generation portfolio and even move into the automobile markets.

           

          As a result, natural gas producers like Chesapeake Energy had viewed an Obama presidency with optimism.

          "This administration will be very favorably inclined to try to do something about introducing natural gas into the transportation network in a more aggressive way than what has happened in the past four to eight years," Chesapeake Chief Executive Aubrey McClendon told analysts last week.

          While the major oil companies also produce substantial amounts of natural gas, others, such as Devon Energy , Apache and Canada's EnCana , are more focused on the fuel.

          Although substantial hurdles stand in the way of boosting the role of natural gas as an automobile fuel, its emissions are half those of crude oil and coal.

          Obama has endorsed cleaner coal technology that would remove pollutants such as carbon dioxide and allow them to be stored, but that technology has not been tested on a commercial scale, and widespread deployment remains years away.

          Congress earlier this year canceled a planned test power station because of soaring costs to build it.

          LOWER OIL PRICES, NEW ATTITUDE?

          Obama, like many other Democrats, initially opposed opening new areas for drilling, but softened his stance to support some moves in that direction as crude oil raced to a record above $147 a barrel and retail gasoline to more than $4 per gallon.

          But a sharp pullback that has sliced more than 50 percent from the price of oil since July could move the new president away from that pledge.

          "Prices were high, and you had to appear like you had some sort of a plan," said Michael Cuggino, chief executive of Pacific Heights Asset Management in San Francisco, who manages about $3.8 billion. "I don't believe they ever really expected to enact it."

           

          Obama's plan to provide families with a $1,000 tax rebate and pay for incentives for renewable energy sources with a windfall tax on oil company profits could support oil prices if companies are forced to reduce spending to develop new fields, analysts said.

          "I think in general an Obama victory and a Democratic legislature will probably be somewhat bullish for energy prices because of some of their apparent effort to favor alternative energy sources," said analyst James Halloran of National City Private Client Group.

          Because of the possible increase in taxes, oil companies' stock performance may not capture all of that potential bullishness, he added.

          Still, if oil prices stay at current levels of nearly $70 a barrel, producers of the fuel may be better able to steer clear of the negative publicity of recent months and present their case to the new administration and Congress.

          "If the economy is healthy and oil prices are low, there's going to be less ill will," said Ken Medlock, a fellow at the Baker Institute at Rice University in Houston. "And they will be free to lobby for more."

          permanent:

          Es läuft alles weiterhin nach Plan

           
          25.11.08 08:39

           

           

          ASX

           Announcement        ASX  Code:  STX 25  November  2008    Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

          Duncan

           

           Ansley  Gas  Unit  11   Drilled  to  planned  total  depth   Wireline  logs  indicate  no  commercial  pay  in  the  Wilcox  Formation  Shallower  secondary  objective  indicates  pay  and  is  planned  to  be  flow  tested  

          Future

          ‐ 

                     

          1.  Drilling  Three  Rayburn  shallow  wells  scheduled  for  drilling  in  November  and  December   Tumbleweed  Prospect  (Mesquite)  in  December          

            Daily

             Production  from  Mesquite  and  Duncan  wells  continues  at  substantial  rates  

            DRILLING

             

             UPDATE   

            Duncan

             Ansley  Gas  Unit  11  (Rayburn  project)  

            The  appraisal  well  which  is  located  5,146  feet  (1,568  metres)  east‐northeast  of  the  initial  discovery  well,  Duncan  1,  has  reached  its  proposed  total  depth  of  12,200  feet  (3,719  metres)  and  wireline  logs  have  been  run.   

            Interpretation  of  the  logs  indicates  there  are  no  commercial  pay  zones  in  the  primary  objective  Wilcox  Formation  and  a  cement  pug  will  be  set  in  the  lower  portion  of  the  hole.  

            A  zone  in  a  shallower  secondary  objective  section  which  is  interpreted  to  be  gas  bearing  based  on  gas  shows  while  drilling  and  ubsequent  wireline  log  interpretation,  will  be  completed  for  flow  testing  after  the  rig  has  moved  off  location.  Oil  Limited   ABN  59  078  012  745  

            On  24  November  2008  (Texas  time)  preparations  were  being  made  to  suspend  the  well.  

            FORWARD

             

             DRILLING  PROGRAMME  

            A  three  well  shallow  development  drilling  programme  and  the  recompletion  of  two  wells  at  Rayburn  is  planned  to  commence  this  moth.  

            The  wells  are  planned  to  evaluate  the  shallow  pay  zones  intersected  in  previous  Rayburn  wells  whilst  drilling  to  the  deeper  Wilox  Formation.  These  prospective  resources  have  not  been  included  in  the  announced  reserves.  

            Strike  Oil  has  a  22.8%  Working  Interest  in  the  Rayburn  project.  

            In  December  2008  the  40  Bcf  Tumbleweed  Prospect  located  adjacent  to  the  Mesquite  Field  is  scheduled  for  drilling  after  planned  outine  rig  maintenance.  

            Strike  Oil  has  a  30  %  Working  Interest  in  the  Tumbleweed  prospect.  

             

            PRODUCTION

             

             

            Daily  production  of  gas  and  oil‐condensate  continue  at  impressive  rates  of  46  mmcf  gas  and  1,160  barrels  oil‐condensate  (10.6  mmcf  and  270  barrels  net  to  Strike  Oil)  underpinning  the  company’s  strong  cash  flows.  

             

            MANAGING

             

             

             DIRECTOR’S  COMMENT  

            Strike  Oil's  Managing  Director,  Simon  Ashton,  commenting  on  the  results  of  Duncan  Ansley  Gas  Unit  1‐1  well  stated  that:  

            "The

             

             results  from  the  Duncan  Ansley  Gas  Unit  11  well  are  disappointing  and  may  affect  the  proved  reserves  position  by  around  10  percent,  although  this  does  not  take  into  account  the  reserves  which  may  be  proved  by  further  offset  drilling  or  in  the  shallow  pay  zons  which  are  planned  to  be  flow  tested  in  this  well  and  in  the  shallow  drilling  programme.  

             

             

            Strike  

            Oil  Limited   ABN  59  078  012  745  

             

             

            The

             

             ongoing  drilling  programme  in  the  Gulf  Coast  will  continue  as  planned  with  three  shallow  development  wells  at  Rayburn  schedled  for  November  and  December.  The  40  Bcf  Tumbleweed  prospect  near  Mesquite  is  expected  to  spud  sometime  in  December.  

            The

             current  steady  production  of  both  gas  and  oilcondensate  is  being  maintained,  providing  in  excess  of  four  million  dollars  per  month  revenue".  

             

            Yours  faithfully  

            SIMON  ASHTON  

            Managing  Director  

            Further

             

             information:  Strike  Oil  Limited  

            Simon  Ashton  ‐Managing  Director  

            T:   08  6464  0400  

            E:   strike@strikeoil.com.au  

             

             

            Ich bin immer noch dabei auch wenn der Aktienkurs keine Freude bereitet. Der Jahresbericht und alle weiteren Informationen können auf der HP von Strike Oil abgerufen werden.

            Gruß

            Permanent 

             

             

             

             

             

             

             

             

             

             

             

             

             

            Strike  

             

             

             

             

             

             

             

            The  Company  Announcement  Officer  

            Australian  Stock  Exchange  Ltd  

            via

             electronic  lodgement  

             

             

            GULF

             COAST  ‐OPERATIONS  UPDATE  

            Strike  Oil  reports  on  the  progress  of  its  activities  in  the  Gulf  Coast,  Texas.   

             

             

             

            permanent:

            gulf coast operations update

             
            03.12.08 07:51

            ASX

             Announcement        ASX  Code:  STX 3 December  2008 Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au    

            Well  Testing  and  Production  

          2. -
          3. Gilbert  3  testing  continues  

            -

            Mesquite  and  Rayburn  production  maintained  at  5,760  boe  

            -

            1,330  boe  net  to  Strike  Oil  

            Drilling  

          4. -
          5. Gilbert  Freeman  4  total  depth,  4,825  ft  (1,464  m)  with  no  commercial  hydrocarbon  zones  

            -

            40  Bcf  Tumbleweed  prospect  scheduled  for  drilling  in  late  December  

            WELL

             TESTING  AND  PRODUCTION  

            Testing  continues  at  the  Gilbert  Freeman  3  well.  A  final  combined  test  rate  from  the  multiple  zones  in  this  well  is  expected  to  be  available  in  January  2009.  

            Daily  production  of  gas  and  oil‐condensate  from  Rayburn  and  Mesquite  is  being  maintained  at  around  46  mmcf  gas  and  1,160  barrels  of  condensate,  or  5,760  barrels  of  oil  (value)  equivalent  (boe);   1,330  boe  net  to  Strike  Oil.  

            DRILLING

             UPDATE  

            The  Gilbert  Freeman  4  well  was  spudded  on  25  November  and  has  drilled  to  its  total  depth  of  4,825  feet  (1,464  metres).  The  well  is  located  adjacent  to  the  Gilbert  Freeman  2  well  (a  Wilcox  producer)  which  was  interpreted  to  have  intersected  a  shallow  gas  bearing  sand.   Oil  Limited   ABN  59  078  012  745  

            Wireline  logs  indicate  the  objective  shallow  sand  in  Gilbert  Freeman  4  is  not  as  well  developed  as  that  encountered  in  the  neary  Gilbert  Freeman  2  well  and  is  unlikely  to  flow  at  commercial  rates.  The  well  has  been  plugged  and  abandoned.  

            Strike  oil  has  a  22.8%  Working  Interest  in  the  Rayburn  project.   

            FORWARD

             PROGRAMME  

            The  timing  of  further  shallow  wells  and  the  recompletion  of  two  wells  at  Rayburn  will  depend  on  equipment  availability.  Successful  shallow  wells  can  deliver  high  value  incremental  gas  to  the  existing  facilities  and  at  a  cost  between  US$80,000  ‐$200,000  (net  to  Strike  Oil)  the  zones  represent  worthwhile  economic  targets.   

            The  40  Bcf  Tumbleweed  Prospect  located  adjacent  to  the  Mesquite  Field  is  scheduled  for  drilling  in  late  December  after  planned  outine  rig  maintenance.  

            Strike  Oil  has  a  30%  Working  Interest  in  the  Tumbleweed  prospect.  

            Yours  faithfully  

            SIMON  ASHTON  

            Managing  Director  

            Further

             

             information:  Strike  Oil  Limited  

            Simon  Ashton  ‐Managing  Director  

            T:   08  6464  0400  

            E:   strike@strikeoil.com.au  

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

            Strike  

             

             

               

                 

                 

                 

                 

                 

                The  Company  Announcement  Officer  

                Australian  Stock  Exchange  Ltd  

                via

                 electronic  lodgement  

                 

                 

                GULF

                 COAST    OPERATIONS  UPDATE

                 

                Strike  Oil  reports  on  the  progress  of  its  activities  in  the  Gulf  Coast,  Texas.  

                 

                 

                permanent:

                operations update

                 
                23.12.08 09:59

                 

                 

                Es war kein erfolgreiches Jahr für das Investment in Strike Oil. Ich bleibe investiert und wünsche allen -wenn noch einige dabei sind- ein schönes Weihnachtsfest und ein erfolgreiches Jahr 2009.

                 

                Gruß

                Permanent

                ASX

                 Announcement        ASX  Code:  STX 23  December  2008    Strike  Oil  Limited   ABN  59  078  012  745   Our  Strengths    Producer/Explorer   with  strong  cash  flow    Track  record  of   discoveries     Geographically  diverse   portfolio     Highly  experienced   team     Strong  experienced   partners    Innovative  approach   to  E&P                    Strike  Oil  Limited   Level  9,  Wesfarmers  House   40  The  Esplanade   Perth  WA  6000   Tel:  08  6464  0400   www.strikeoil.com.au     

                • -

                40  Bcf  Tumbleweed  prospect  well  ‐Hart  Estate  Gas  Unit  1‐1  spudded    Testing  Wilcox  Fm  ‐Gilbert  Freeman  3  successful  testing  finalised,  shallowest  zone  flowed  1.5  mmcfd,  80  bcpd,  two  deeper  zones  to  be  added  in  near  future  Shallow  gas  zone  ‐Duncan  Ansley  GU  1‐1  preparing  to  test   

                Production

                 
                • -

                Mesquite  and  Rayburn  production  maintained  at  5,660  boe  

                1,300  boe  net  to  Strike  Oil   Program  Reviewed  

                Some  previously  planned  Gulf  Coast  exploration  and  development  activities  have  been  deferred   UPDATE   Prospect  ‐Hart  Estate  Gas  Unit  11  

                The  Hart  Estate  Gas  Unit  1‐1  well  on  the  Tumbleweed  prospect  in  Jackson  County,  Texas  was  spudded  on  19  Dec  2008  (Texas  time).  The  well  is  currently  at  a  depth  of  1,350  feet  (411  metres)  where  the  13  3/8  inch  surface  casing  has  been  set  as  planned.  

                The  well  is  designed  to  test  a  prospective  resource  of  40  Bcf  in  the  Middle  Wilcox  Formation,  the  producing  formation  in  the  adjacent  Mesquite  field.  

                The  well  is  located  approximately  890  metres  west  of  the  Shefcik  3  well,  one  of  the  four  producing  wells  in  the  Mesquite  field.  The  presence  of  nearby  infrastructure  means  a  discovery  will  be  able  to  be  flow  tested  and  turned  to  sales  very  rapidly.  Oil  Limited   ABN  59  078  012  745  

                The  planned  total  depth  of  the  well  is  12,200  feet  (3,719  metres).  The  well  is  scheduled  to  take  approximately  30  days  to  drill.  

                Strike  Oil  has  a  30%  Working  Interest  in  the  Tumbleweed  prospect  and  a  26.25%  Working  Interest  in  the  Mesquite  Field.   TESTING   

                Wilcox

                 Formation  ‐Gilbert  Freeman  3  (Rayburn  Project)  

                Testing  of  the  Gilbert  Freeman  3  well  continues.   A  total  of  three  zones  in  the  Upper  Wilcox  Formation  were  individually  tested.  The  following  information  for  the  shallowest  zone  only  has  been  reported  to  the  Texas  Railroad  Commission,  the  state  regulatory  body.  

                Gas  Rate:                                   1.511  million  cubic  feet  per  day  

                Oil‐Condensate  Rate:                   80  barrels  per  day  

                Flowing  Tube  Pressure:          2,195  psia  

                Choke  Size:                               13/64  inch  

                Two  deeper  Upper  Wilcox  intervals  which  flow  tested  at  lower  rates  than  the  reported  test  above  have  also  been  individually  frature  treated  and  flow  tested.  Removal  of  the  plugs  between  the  intervals  to  combine  the  flow  from  all  three  intervals  is  planned  for  the  near  future  which  sould  see  sustained  field  production  increase.   The  combined  flow  rate  will  be  reported  shortly  to  the  Texas  Railroad  Commission.   Gas  ‐Duncan  Ansley  Gas  Unit  11  (Rayburn  Project)  

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                Shallow

                A  zone  in  a  secondary  objective  above  the  Wilcox  Formation  in  the  Duncan  Ansley  Gas  Unit  1‐1  well  which  is  interpreted  to  be  gas  bearing  based  on  gas  shows  while  drilling  and  subsequent  wireline  log  interpretation  is  nw  being  prepared  for  flow  testing.    

                 

                 

                 

                PRODUCTION

                Daily  production  of  gas  and  oil‐condensate  from  Rayburn  and  Mesquite  is  approximately  45  mmcf  gas  and  1,160  barrels  of  condensate,  or  5,660  barrels  of  oil  (value)  equivalent  (boe);   approximately  1,300  boe  net  to  Strike  Oil.  This  substantial  rate  is  providing  monthly  revenues  to  Strike  Oil  approximately  AUD$3  million  per  month  based  upon  the  current  oil  and  gas  prices.  Oil  Limited   ABN  59  078  012  745    PROGRAM  REVIEW  

                 

                 

                 

                 

                 

                 

                 

                OPERATIONS

                In  response  to  the  impact  of  lower  oil  and  gas  prices  and  uncertain  financial  market  conditions,  the  Gulf  Coast  joint  venture  has  reviewed  its  ongoing  exploration  and  development  program.  

                This  review  has  resulted  in  the  deferral  or  reduction  of  some  high  cost  exploration  and  development  activities  with  a  short  paue  in  drilling  operations  now  planned  after  the  drilling  of  the  Tumbleweed  Prospect  ‐Hart  Estate  Gas  Unit  1‐1  well.  At  this  stage,  drilling  is  scheduled  to  recommence  in  April/May  2009.  

                The  revised  drilling  program  will  reduce  Strike  Oil’s  planned  expenditures  over  the  next  six  months  helping  to  strengthen  the  cmpany’s  balance  sheet.  Further  information  on  the  revised  strategy  in  the  Gulf  Coast  and  in  Australia  will  be  released  once  the  revised  strategy  has  een  settled  which  is  expected  in  January.  

                Managing  Director’s  Comment  

                Strike  Oil’s  Managing  Director  Simon  Ashton  commented:   and  its  joint  venture  partners  have  moved  proactively  to  prudently  manage  operations  and  cashflow  during  this  period  of  ifficult  market  conditions.   addition  to  the  reduced  exploration  and  development  spend  in  the  US,  the  company  has  also  reduced  overheads  in  Australia.  These  actions  will  help  maintain  and  build  Strike  Oil’s  financial  strength  and  provide  a  solid  basis  for  growth  when  the  marke  conditions  improve".  

                Yours  faithfully  

                SIMON  ASHTON  

                Managing  Director   information:  Strike  Oil  Limited  

                Simon  Ashton  ‐Managing  Director  

                T:   08  6464  0400  

                E:   strike@strikeoil.com.au  

                Shefcik 1

                (Producer)

                1000m

                N

                Shefcik 3

                (Producer)

                Webernick 1

                (Producer)

                Webernick 2

                (Producer)

                Hart Estate GU 1-1

                (New Well Location)

                Tumbleweed Prospect

                Jackson County, Texas

                 

                 

                 

                 

                 

                 

                 

                 

                 

                890m

                 

                 

                 

                 

                 

                 

                Further

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                "Strike

                 

                In

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                 

                WELL

                 

                 

                 

                Strike  

                 

                 

                Strike  

                 

                 

                 

                 

                 

                 

                 

                 

                 

                DRILLING

                Tumbleweed

                 

                 

                 

                 

                Operations

                 

                -

                 ‐

                 

                 

                 

                 

                Well

                 ‐

                 

                 

                 

                 

                The  Company  Announcement  Officer  

                Australian  Stock  Exchange  Ltd   electronic  lodgement  

                GULF

                 COAST    OPERATIONS  UPDATE

                 

                Strike  Oil  reports  on  the  progress  of  its  activities  in  the  Gulf  Coast,  Texas.  

                 

                 

                 

                 

                 

                 

                via

                 

                 

                 

                 

                Es war kein erfolgreiches Jahr für das Investment in Strike Oil. Ich bleibe investiert und wünsche allen -wenn noch einige dabei sind- ein schönes Weihnachtsfest und ein erfolgreiches Jahr 2009.

                 

                Gruß

                Permanent

                ASX

                 

                Drilling

                Drake33:

                Ist hier alles gelaufen ?

                 
                24.03.09 16:13
                Die letzte Nachricht ist verdammt lange her.
                eifel77:

                Ohne News .....

                 
                09.05.09 23:31
                ....ein steigender Kurs mit rel. großem Volumen in Australien !
                Da steckt doch was dahinter, oder liegt´s nur am steigenden Öl- und Gaspreis?
                Was sagst Du dazu, permanent?
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