Strike to Spud Sadie Well

Strike expects to spud the Sadie-1 well on the Gulf Coast of Texas in two weeks.

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.
The well has a programmed depth of 12,000 feet (3,660 meters). Strike holds a 40 percent working interest.

Sadie-1 is on the Homeplace prospect, which lies within the Wilcox Formation along trend from Strike's Louise gas-condensate production well. It is also in close proximity to the recently sold Mesquite and Rayburn gas and condensate fields on the Wilcox Formation.

Strike Energy's Managing Director, Simon Ashton said, "Strike Energy views Homeplace as a promising Wilcox formation prospect and we have been able to increase our interest from 30% to 40% in the Sadie well. We look forward to a successful start to the 2011 drilling program."