STRIKE ENERGY LIMITED — Capital/Financing Update 2013

Dec 4, 2013

ASX Announcement

==> picture [114 x 39] intentionally omitted <==

==> picture [596 x 57] intentionally omitted <==

5 December 2013

The Company Announcement Officer ASX Ltd via electronic lodgement

SOUTHERN COOPER BASIN GAS PROJECT LE CHIFFRE 1 - DRILLING UPDATE

• Le Chiffre 1 has reached total depth of 2,089m

• Thick coals encountered – pre-drill expectations exceeded

• Confirmation of a very substantial coal resource within PEL 96

• Pilot production testing program - planning underway

_____________

Strike Energy Limited (ASX:STX) (“Strike”) is pleased to advise that the Le Chiffre 1 well has reached a revised total depth of 2,089m and the well is being conditioned prior to logging and casing.

Preliminary analysis of the mud logs and core recovered indicate that the well has penetrated a 600m section encompassing the Toolachee Formation, the Roseneath Shale, Epsilon Formation and Murteree Shale (together the “REM Group”) and the Patchawarra Formation.

In excess of 85m of coal has been cored with additional coal intervals also encountered. The total coal thickness in the well will be determined following analysis of log results.

Elevated gas readings were recorded across all coal intervals with gas concentration increasing with depth as expected.

These preliminary results confirm that a very significant coal system is present in the Weena Trough in PEL 96 and exceed Strike’s pre-drill expectations. Further logging, testing and analysis of the Le Chiffre well together with the results from the next well to be drilled in the program, Klebb 1, will support the pilot production testing program, planning for which is already underway.

Page | 1

Strike Energy Limited ABN 59 078 012 745

120B Underwood Street, Paddington 2021

www.strikeenergy.com.au

P: +61 2 9397 1420

ASX Announcement

==> picture [114 x 39] intentionally omitted <==

==> picture [596 x 57] intentionally omitted <==

LE CHIFFRE 1 DETAILS

The Le Chiffre 1 well is being drilled by the PEL 96 joint venture (Operator Strike 66.7% and Energy World Corporation (ASX:EWC) 33.3%) and is located approximately 105 km south-south west of Moomba and 4km east of the Moomba to Adelaide Pipeline (“MAPS”) (see Map 1 below).

Map 1 - Location Le Chiffre 1

==> picture [354 x 296] intentionally omitted <==

Yours faithfully

==> picture [142 x 40] intentionally omitted <==

DAVID WRENCH Managing Director

Further information: Strike Energy Limited David Wrench – Managing Director T: +61 2 9397 1420 E: strike@strikeenergy.com.au

Page | 2

Strike Energy Limited ABN 59 078 012 745

120B Underwood Street, Paddington 2021

www.strikeenergy.com.au

P: +61 2 9397 1420