Carnarvon Basin Drilling Program on Track

Strike Oil Limited's Carnarvon Basin 2004 oil exploration drilling program is scheduled to commence in October 2004 and outlined below.

Well Permit Strike Oil Interest Timing
altostratus-1, TP/17 100% early-mid October
Boojum-1, TP/18 50% early-mid November
Champion-1, EP 325 40%* early-mid November%

* Strike Oil funding 50% to earn 40% interest

All the 3 wells will be drilled using the Ensco 56 drilling rig once it completes its current contracted program with another operator. The schedule could vary leading up to the drilling due to weather or operational issues.