Strike Mulls Suspending Sadie Well

Strike reported the following progress on the testing of the Sadie 1 well (Homeplace Prospect) in the onshore Gulf Coast, Wilcox formation.

Initial fracking of deepest Wilcox zone in the Sadie 1 well has produced non commercial flow rates. The operator is now proposing to suspend the well pending further evaluation. Several shallower potential pay zones exist in the Wilcox and in the younger Cook Mountain interval. Consideration is being given to the testing of some of these intervals.

The work to connect this well to a nearby sales line has essentially been completed providing flexibility for further testing.