Strike Extends Option to Acquire Philippines Oil Field

Strike Energy Limited has extended the expiry date on the option it holds for the acquisition of an 80 percent stake in the Cadlao oil field in the Republic of the Philippines.

Strike has agreed with Blade Petroleum, which holds the Cadlao interest, to extend the existing option period from January 31, 2010 to February 28, 2010.

The extension will enable further time for Strike to complete its due diligence review of the project.