Striker Oil & Gas (SOIS)

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Striker Oil & Gas Announces It Has Increased Its Acreage Position 50% in Its Catfish Creek Prospect




Striker Oil & Gas, Inc. (OTCBB:SOIS) announces that Striker along with its working interest partners in the Catfish Creek Prospect located in East Texas have now increased their acreage position to 12,800 gross acres. This is an increase of more than 50% from the initial acreage position acquired in this prospect.

This prospect has the potential for 25 to 40 wells to test the Pettit and Rodessa intervals with estimated gross reserves of 125,000 barrels of oil equivalent (BOE) per well for all zones or a gross prospect potential of 5 million barrels of oil equivalent (BOE) reserves . The shallow rights of this prospect include depths to 10,800 feet. Striker has approximately 33% working interest before payout (25% after payout) on the shallow rights of this prospect.

Striker recently announced that it had successfully drilled its third well and completed its 4 mile gas pipeline on its Catfish Creek Prospect. Striker owns a 25% interest in the pipeline.

“This prospect is developing into a very valuable asset for Striker with excellent future growth opportunity. With the gas pipeline complete, the operator of the prospect is currently planning the stimulations for the three wells with the first well being worked on later this week based on rig and frac service availability,” said Kevan Casey, Chief Executive Officer of Striker.