Strike Energy Limited · ASX:STX
Strike Energy — Strike Oil — US Oil & Gas Downunder Conference 2006
20 slides from Strike Energy's conference presentation, Mar 29, 2006
Slide 1: US Oil and Gas Downunder Presentation (ASX cover letter)
G Strike Oil G1 B 9225 4446 61 8 9225 4448 29 March 2006 Australian Stock Exchange Ltd Via Electronic Lodgement “US OIL AND GAS DOWNUNDER” PRESENTATION Find attached the presentation by Strike Oil Limited to be made at the “US Oil and Gas Downunder Conference” on 30 March 2006. Yours faithfully SIMO
Slide 2: US Oil & Gas Downunder Conference
Slide 3: Activities Focus: Rocky Mountains
_ a ctivities Focus)” a . a. oo = Mt | “Rocky Moun tains | Pr
Slide 4: Strike Oil: United States
G strike Oil : United States H @ Entered United States i in June 2005 @ 7 wells drilled to date 3 “Discoveries” - 26.25% working interest (Mesquite Project) - Risk AUD$ 4.5 million - 4*“Dusters” - 10% working interest - Risk AUD$ 0.9 million @ Mesquite Project - First well spudded - November 2005 -
Slide 5: Risk and Returns: Rocky Mountains and Exploration
GF strike Oil High RETURNS Moderate Low Rocky Exploration Mountains Low Moderate RISK High
Slide 6: Why The United States
GF sStrike Oil Why The United Sta UNIQUE ATTRIBUTES @ Good contacts (previous track record) @ Excellent opportunities offered INDUSTRY ATTRIBUTES ® Both oil and gas prices strong @ Large highly competitive market — Diverse Risk @ Short cycle time from discovery to production ®@ Politically stable
Slide 7: Rocky Mountains and Gulf Coast Texas
F Strike Oil Rocky Mountains ® Operator, Comet Ridge Ltd ® Oil and gas focus ® 4 wells planned (2006) Gulf Coast, Texas ® Operator, Cypress E&P ® Gas focus @ 4-9 wells planned (2006)
Slide 8: Rocky Mountains Project Area
F Strike Oil Oil and gas focus Operator- Comet Ridge* Strike Oil interest 33.75 — 37.5% Competitive technology - Directional Drilling Initial project secured Guif Coast Project Area Additional leasing underway KILOMETRES ®@ Drilling 2006 (4 wells) * Strike Oil Limited holds 10% interest in Comet Rid
Slide 9: Tow Creek Oil Project
Gstrike Oil Tow Creek fe) il Proje if Mountain Field | 05 BOPD weil Rece it 2% ay [Hidden Valley |~ | — «| Field |* Px! ‘Tow Creek Field ‘oa BM zi Tow Creek Acreage Acquisition Showing Niobrara Oilfields @ Re-development opportunity- horizontal drilling ® Historically - vertical wells ~ Reserves 50,
Slide 10: Gulf Coast, Texas: Eaglewood Participation Agreement
G strike Oil Gulf Coast, Tex Eaglewood Participation Agreement Operator, Cypress E&P Working Interests up to 25% Competitive technology - 3D seismic - Seismic attribute analysis Ongoing drilling (4-9 wells)
Slide 11: Gulf Coast: Mesquite Project
F Strike Oil "Gulf Coast- Mesquite P: “*4 Mesquite Project | @ Multiple commercial zones tested (Shefcik 1 and Webernick 1) ® Individual zone rates 2 to 7 mmcfd @ Shefcik 3 initial testing in progress @o0il & Gas Fields @ Wilcox Formation
Slide 12: Mesquite Project
GF strike Oil Mesquite Project ® Gross potential for 30 billion cubic feet (with initial 20 barrels of condensate oil per million cubic feet declining with reservoir pressure) ® Strike Oil - 26.25% Working Interest (20-21% Net Revenue Interest) ® Shefcik 1 interim test, Gas: 7.1 million cubic feet p
Slide 13: Mesquite Production Facility
GF strike Oil _ Mesquite Production Facility. _* Gas processing plant « Connected to 3 sales pipelines Cypress Mesquite Project : Cypress Shefcik3 | | Production Testing — Test — Gas: 7.1 mmefid; Condensate: 170 bbi/d _ oe Mesquite Project : - - Cypress Shefcik 1 Gas Discovery _ * Strike Oil has 26.
Slide 14: Mesquite Project Production
GF strike Oil Mesquite Project Prod | Ms Hey @ Expect 3 to 4 wells on production (gross 15- 20 mmcfd) by June 2006 ® Production processing facilities - Capacity 17 to 20 (mmcfd) - Expansion option under evaluation @ Sales capacity - 8 mmef increasing to 13 mmcfd by end March 2006 - 30 mmcfd by April
Slide 15: Mesquite Facilities
Gstrike Oil Mesquite Facilitie Central processing facilities located at Shefcik 1 Condensate oil sales from Webernick 1, with Webernick 2 in background.
Slide 16: Gulf Coast: Indicative Timeline
GF strike Oil Gulf Coast - Indicat 2005 2006 Nov | Dec | Jan | Feb | Mar | Apr | May | June} July | Aug Shefcik 1 . Testing . etc Drill ns PP TOUCION Webernick 4 . Testing . Drill Production Shefcik 3 Drill Testing Production . Testing . Webernick 2 Drill Production Other Drilling First Revenue Cheq
Slide 17: Gulf Coast: Exploration
GsStrike Oil Gulf Coast - Exploration @ Eaglewood Participation Agreement - Increased interest from 10 to 25% @ 3 to 5 exploration wells by December 2006 ‘| @ Additional Wilcox prospects (similar to Mesquite) being leased
Slide 18: Mesquite Project Gas/Condensate Discovery
F Strike Oil Mesquite Project, Gas/Condensate Discovery:- e Transforms Strike Oil from an Exploration to an Exploration and PRODUCTION Company e Justifies entry into the US market ¢ Places the Company on-track for AUS$1 million per month net revenue by mid 2006 Expanded United States Exploration ® 7
Slide 19: ck Exchand
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Slide 20: Disclaimer
GstrikeOil —Dsclaimer Strike Oil Limited has taken all reasonable care in producing the text and images contained in this presentation but does not warrant that the information contained herein is accurate or up to date. The information on these slides is based on publicly available information, int