Strike Starts Drilling at Sadie Well

Strike announced the start of its 2011 exploration program, with the spudding over the weekend of the Sadie-1 well on the onshore Gulf Coast of Texas. The well is now at 2,285 feet (697 meters) and 13 3/8" casing is being cemented in place.

Sadie-1, which is the first well in Strike's six-well Gulf Coast drilling program for 2011, is targeting a prospective gas resource of 15-20Bcf. Sadie-1 is on the Homeplace prospect, which lies within the Wilcox Formation along trend from Strike's Louise gas-condensate production well.

The well has a programmed depth of 12,000 feet (3,660 meters) and is expected to take around 40 days to drill. Strike holds a 40 percent working interest.


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