Seismic Work Completed in Carnarvon Basin

Carnarvon Basin Location Map
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Strike Oil announces that the M/V Pacific Sword completed seismic operations on December 9th. There were no loss of time for weather or for environmental and safety incidents.

The data will be processed and interpreted over the next few months with the aim of defining a number of locations primarily for oil exploration drilling in the latter half of 2006 and into 2007. All the prospects and leads are in water depths of less than 50 meters and can be drilled by a jackup rig

The Rivoli survey will provide the additional information required to make a more accurate assessment of the Rivoli gas field and a deeper, underlying prospect.

Commenting on the seismic surveys, Strike's Managing Director, Mr Simon Ashton said, "The completion of these surveys safely and without environmental incidence in areas of very shallow water and close to environmentally sensitive areas, adds to Strike's growing capability and reputation as a competent offshore operator.

Survey Permits Participants
Karratha North 2D WA-340-P Strike Oil* (40%)
Victoria Petroleum (20%)
Sun Resourdces (20%)
Pancontinental (20%)
Karratha South 2D TP/19 and EP421 Strike Oil* (90%)
Bow Energy (10%)
Mad Hatter 2D TP/18 and EP410 Strike Oil (50%)
Tap Oil* (50%)
Hood 2D TP/6 and EP 342 Strike Oil* (100%)
Rivoli 2D EP325 Strike Oil* (44.5%)
Victoria Petroleum (36.1%)
Bow Energy (11.1%)
Black Rock Oil & Gas** (8.3%)

**Prior to commencement of the Rivoli survey Black Rock announced the sale of its interest to Advent Energy Pty Ltd.

Strike Oil managed the Mad Hatter survey on behalf of Tap Oil.

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