STRIKE ENERGY LIMITED — Share Issue/Capital Change 2011

Aug 29, 2011

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Strike Energy Limited

ABN

59 078 012 745

We (the entity) give ASX the following information.

1.1 Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

• 1 +Class of +securities issued or to be Fully paid ordinary shares ( Ordinary Shares ) issued

• 2 Number of[+] securities issued or to 49,283,764 Ordinary Shares pursuant to a be issued (if known) or maximum placement to sophisticated and institutional number which may be issued investors ( Placement ) and 62,974,832 Ordinary Shares pursuant to a non-renounceable entitlement offer ( Rights Issue ) described in the ASX announcement lodged with ASX on 13 July 2011 (together, the New Shares )

• 3 Principal terms of the[+] securities The terms of the New Shares are equivalent to (eg, if options, exercise price and existing Ordinary Shares. expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

4 Do the[+] securities rank equally in all The New Shares will rank equally with existing respects from the date of allotment Ordinary Shares from the date of allotment. with an existing[+] class of quoted +securities?

• If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

$0.15 per share

5 Issue price or consideration $0.15 per share 6 Purpose of the issue The proceeds from the Placement and the Rights (If issued as consideration for the Issue will be used for funding oil and gas acquisition of assets, clearly identify exploration for projects in the USA specifically in those assets) Eagle Ford Shale, Texas and Wilcox Formation Slope Play, Louisiana and to provide additional working capital.

• 7 Dates of entering[+] securities into 20 July 2011 for New Shares issued under the uncertificated holdings or Placement despatch of certificates 22 August 2011 for New Shares issued under the Rights Issue 29 August 2011 for New Shares issued under the Shortfall for the Rights Issue.

• Number +Class

• 8 Number and +class of all 440,817,026 Fully Paid Shares +securities quoted on ASX ( including the securities in clause 2 if applicable)

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

9 Number and +class of all +securities not quoted on ASX (_including_the securities in clause 2 if applicable)	1,500,000 3,610,000 2,750,000 1,500,000 2,000,000 1,575,000 500,000		30 cents - Expire 18/12/11 Options 20 cents - Expire 20/3/12 35 cents – Expire 26/10/12 40 cents – Expire 17/11/12 40 cents – Expire 23/11/12 32 cents - Expire 21/10/13 25 cents - Expire 21/10/13
10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)
	The directors of Strike Energy Limited are unable to state when or if dividends will be paid in the future as the payment of dividends will be depend on the company's profitability, financial position and cash requirements.

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions	Security holder approval is not required for the Rights Issue.
	Non-renounceable
	The entitlement ratio for existing shareholders is 1 New Share for each 6 existing Ordinary Shares held at the Record Date.
	Ordinary Shares
	5:00pm (WST) on Thursday, 28 July 2011
	N/A
	Where fractions arise in the calculation of shareholders' entitlement under the Rights Issue, they will be rounded up to the next whole number of New Shares.

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders 25 If the issue is contingent on +security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable)	All countries other than Australia and New Zealand.
	5:00pm (WST) on Tuesday, 16 August 2011
	Blackswan Equities Limited and M H Carnegie & Co Pty Ltd fully underwrote the Rights Issue.
	5% of the total amount raised under the Rights Issue.
	N/A
	N/A
	N/A
	N/A
	No prospectus will be issued for the Rights Issue. An offer document and entitlement and acceptance form will be sent to eligible shareholders on or before Tuesday,2 August 2011.
	Thursday, 21 July 2011
	N/A
	N/A

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

30 How do[+] security holders sell their N/A entitlements in full through a broker? 31 How do[+] security holders sell part N/A of their entitlements through a broker and accept for the balance? 32 How do[+] security holders dispose N/A of their entitlements (except by sale through a broker)? 33 +Despatch date Tuesday, 23 August 2011 Rights Issue

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one ) (a)[Securities described in Part 1 ]

(b)[All other securities ] Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the ] additional[+] securities, and the number and percentage of additional[+] securities held by those holders

• 36[If the ] +securities setting out the number of holders in the categories[+][securities are ][+][equity securities, a distribution schedule of the additional ] 1 - 1,000 1,001 - 5,000 5,001 - 10,000

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

10,001 - 100,000 100,001 and over 37[A copy of any trust deed for the additional ][+][securities ]

Entities that have ticked box 34(b)

38 Number of securities for which +quotation is sought 39 Class of +securities for which quotation is sought 40 Do the[+] securities rank equally in all respects from the date of allotment with an existing[+] class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security)

Number +Class 42 Number and[+] class of all[+] securities quoted on ASX ( including the securities in clause 38)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the +securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that noone has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here:………….…..…......................................... Date: 30 August 2011 (Company Secretary)

Andrew Dimsey

Print name: .........................................................