Strike Energy Provides South Erregulla Update

• Flow testing package has been mobilised and is being rigged up at the SE-1 well site with perforation and subsequent flow testing expected to start within 72 hours.
• Core analysis of the SE1 Kingia Sandstone whole core has confirmed the exceptional quality of the reservoir with laboratory measured permeabilities up to 604mD at reservoir conditions.

Strike Energy Limited provides an update on the activities and operations at the Company’s 100% owned South Erregulla gas discovery in EP503

South Erregulla-1 (Kingia) Flow Test
Since the last update Strike has mobilised the testing package to the SE1 well site and has commenced rig up. Within the week Strike will run in and perforate the 14m of gas charged Kingia Sandstone before commencing clean-up flows followed by the running of down hole gauges and longer flow periods as part of a proposed 18-day testing program. The flow test has been designed to gather additional pressure and build-up data which will facilitate a robust understanding of the reservoir performance and the connected resources. Strike plans to make further disclosure as results come to hand from this testing period.

South Erregulla-1 Core Analysis
During the drilling of SE-1, whole core was cut across the Kingia Sandstone reservoir interval.

Core plugs have undergone processing and Routine Core Analysis in the testing laboratory. Permeability measurements taken throughout the core show exceptional quality with measured permeabilities up to 604mD under confining stress (pressure) conditions simulated to match the in-situ reservoir pressures of 6,800 psia.

South Erregulla is located in the 100% Strike owned EP503 as part of the Permian Gas Fairway within the North Perth Basin where the Wagina and Kingia Sandstone gas discoveries are located at: 29° 28’ 29.816 S, 115° 19’ 5.618E

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