STRIKE ENERGY LIMITED — Capital/Financing Update 2012

Aug 2, 2012

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Strike Energy Limited ABN 59 078 012 745 3 August 2012
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OUR FOCUS
• COOPER BASIN
Over 1 million net acres
with unconventional
potential
• EAGLE FORD SHALE
9,750 net acres within the
gas-condensate window
Strike Energy Limited
Ground Floor, 10 Ord Street
West Perth WA 6005
T: 61 8 6103 0999
F: 61 8 6103 0990
E: strike@strikeenergy.com.au
www.strikeenergy.com.au
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The Company Announcement Officer, ASX Ltd via electronic lodgement

STRIKE’S FIRST EAGLE FORD SHALE PRODUCTION TEST WELL REACHES TOTAL DEPTH

• Bigham 1H production test well reaches total depth

• Good oil and gas shows recorded while drilling

Strike Energy Limited is pleased to advise that its first Eagle Ford Shale production test well – Bigham 1H – has reached a total measured depth of 17,700 feet (~5,400 metres). A 5,000 foot (~1,500 metre) horizontal section has been successfully drilled in the target formation. The well is currently being logged, following which it will be cased to await fracture stimulation and completion for production.

Image 1 – Bigham 1H drilling operations

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Strike Energy Limited ABN 59 078 012 745 3 August 2012
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MANAGING DIRECTOR’S QUOTE

Managing Director, David Wrench, said:

• “We are very pleased that the Bigham 1H lateral has now been successfully drilled in the targeted formation.

The good oil and gas shows and evidence of natural fracture systems that we have seen while drilling the lateral are very positive signs, and reinforce our confidence in the potential of this play”, he said.

EAGLE FORD SHALE

Strike, through its’ 27.5% interest in the Eagle Landing Joint Venture, has approximately 35,500 gross acres leased and committed in northern Lavaca County and southern Fayette County, Texas – 9,750 acres net to Strike. This area is now experiencing rapidly increasing development activity. In addition to Bigham 1H, a number of other wells have been or will be completed during the current half year. Strike expects that this activity will further de-risk the region and re-rate its’ Eagle Ford Shale asset.

Chart 1 – Current development activity in the vicinity of Strike’s acreage

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Yours faithfully DAVID WRENCH Managing Director

Further information:

Strike Energy Limited David Wrench – Managing Director T: +61 2 8261 1000 E: strike@strikeenergy.com.au

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