Strike Energy Provides Exploration Update

• The Ocean Hill 256 km² 3D seismic acquisition has been completed on schedule and under budget covering the large Jurassic gas discovery where a material 306 PJe 2C Contingent Resource exists.
• The 479 km Kadathinni 2D seismic survey has commenced with the objective of defining the interpreted 100 km2 of combined closure, in what Strike believes to be the next Permian frontier for the Perth Basin.

Strike Energy Limited is pleased to provide an update on its seismic exploration program across its 100% owned and operated Perth Basin portfolio. Ocean Hill Strike has completed the 256 km² 3D seismic acquisition over the large Jurassic aged Ocean Hill gas discovery within the 100% owned and operated EP495. The survey was completed on schedule and under budget. Ocean Hill contains a material 2C Contingent Resource of 306 PJe as certified by RISC1 .

The 3D seismic acquisition will assist in further defining the structure and faulting within the field and, with the application of Strike’s proprietary information from the successful Jurassic aged Walyering gas field discovery and development, will be used to site a future appraisal well to support potential Resource to Reserve conversion.

Ocean Hill is similar to Walyering, in that it possesses low impurity condensate rich gas and is physically advantaged being adjacent (4 km) to a pipeline compressor station. In this case, Compressor Station-8 of the Dampier to Bunbury Natural Gas Pipeline, which is connected to both the LNG projects in the North and the industrial gas markets of WA in the South.

Arrino-Kadathinni Complex
Strike has commenced the 479 km Kadathinni 2D seismic survey in the 100% owned and operated EP503, 504 and EP505 where more than 100 km² of Permian closure has been identified on both historical and the South Erregulla Maior 2D seismic volumes.

The four structures that make up the Arrino-Kadathinni complex on the Tathra Terrace represent what Strike believes to be the next Permian frontier for the basin. The play remains open to the East where no wells have been drilled to Kingia depth on the Eastern side of the Dandaragan Trough, which is more proximal to the North-Eastern sediment deposition trend. The ArrinoKadathinni structures are currently interpreted to be at similar depths to Lockyer and West/South and North Erregulla.

This announcement is authorised for release by the Managing Director and Chief Executive Officer in accordance with the Company’s Continuous Disclosure Policy.