STRIKE ENERGY LIMITED — Capital/Financing Update 2016

Dec 7, 2016

ASX Announcement

==> picture [114 x 40] intentionally omitted <==

8 December 2016

==> picture [594 x 20] intentionally omitted <==

==> picture [566 x 9] intentionally omitted <==

==> picture [596 x 5] intentionally omitted <==

The Company Announcement Officer ASX Ltd

via electronic lodgement

Strike Rights Issue Closes Oversubscribed

The directors of Strike Energy Limited (ASX Code: “STX”) ( Strike or the Company ) are pleased to announce that the $4.5 million fully underwritten one (1) for fourteen (14) non‐renounceable pro rata rights issue (the offer ) as announced on 11 November 2016 has closed over‐subscribed.

In accordance with the terms of the offer, the Company has exercised its discretion and scaled back applications for shares under the top up facility that was made available as part of the offer.

Refunds for the unallocated portion of applications for additional shares under the top up facility will be paid no later than 12 December 2016. It is expected that the new shares will be issued and allotted on Monday 12 December 2016, with holding statements to be dispatched on that date or soon thereafter.

Strike will use the proceeds of the offer and the $3.6 million R&D Facility announced on 15 November 2016 together with cash on hand to fund continued field operations and commercial initiatives for the Company’s majority owned and operated PEL 96 project, with the objective of driving the following key, near term value catalysts:

• Building and sustaining gas flow rates from continued pilot production testing at the Klebb wells;

• Reserve certification and development planning activities to support initial gas processing FID; and

• Application and grant of a new Production Retention Licence within PEL 96, opening up potential alternative commercialisation and funding options.

Yours faithfully

==> picture [106 x 75] intentionally omitted <==

Sean McGuinness CFO & Company Secretary

Strike Energy Limited ABN 59 078 012 745 www.strikeenergy.com.au

120B Underwood Street, Paddington NSW 2021

P: +61 2 9195 5600 E: strike@strikeenergy.com.au