Strike to be Awarded Two Permits in Galilee Basin

Strike Oil has been advised by the Queensland Department of Natural Resources and Mines that its applications for two permits in the Galilee Basin of Queensland are being processed towards grant.

The two permits applications have been assigned Authority to Prospect for Petroleum numbers ATP 743P (6482 sq km) and ATP 744P (6524 sq km). Strike anticipates being formerly offered the permits within a month.

Both permits are believed to be prospective for coal seam natural gas and conventional oil and gas. Thick coals occur within the permits and oil and gas shows have been recorded in a number of wells in the area.

Strike's decision to apply for acreage in the Galilee Basin has been strengthened by the recent announcement by Galilee Energy that it has successfully re-initiated pumping at its 5 well Rodney Creek coal seam gas pilot area some 100 km to the southwest of Strike's applications and that it is expecting first gas by the end of May.