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SXE Strata X Energy Ltd

0.07
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Strata X Energy Ltd TSXV:SXE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.07 0.07 0.085 0 01:00:00

Strata-X Executes Drilling Contract for the First Horizontal Well at the Vail Oil Project

07/04/2013 11:30pm

Marketwired Canada


The directors and management of Strata-X Energy Ltd. ("Strata-X" or the
"Company") (TSX VENTURE:SXE) (ASX:SXA) are pleased to announce that the Company
has executed a Drilling Contract to drill the first horizontal well at the Vail
Oil Project where Strata-X currently has a 100% interest in 46,300 net acres. 


The Company executed a Drilling Contract with Les Wilson Inc. for the drilling
of the horizontal appraisal well in the Vail Oil Project. The Company will
utilize Les Wilson Inc.'s rig #25 which is expected to be available to commence
drilling Strata-X's well in mid-May 2013.


Strata-X has submitted an application to drill the horizontal well to the proper
regulatory agencies in the State of Illinois with the following expected
parameters: a true vertical depth of 4,500ft, a true measured depth of 9,300ft
and a horizontal leg length of 4,300ft. The permit to drill the well is expected
to be approved by the State of Illinois in the coming weeks and will be followed
by further press releases detailing the Company's plans in this project.


Strata-X has purchased 22.23 miles of 2D seismic data covering the area around
the Company's first horizontal test well for the Vail Project. This seismic
data, which is currently being reprocessed, will assist in the geo-steering of
the horizontal leg of the well and further the Company's geologic review of the
area.


More information about the Vail Oil Project and Strata-X's portfolio of projects
can be found on the Company's website at www.strata-x.com.


About Strata-X

Strata-X is a Denver, Colorado (USA) based company and is engaged in the
business of oil and gas exploration and development with a variety of
exploration opportunities in North Dakota, California, Colorado, Texas, Illinois
and Western Australia and production and development opportunities in
California. Strata-X has 123,752,453 common shares outstanding and trades under
the symbol "SXE" on the TSX.V and "SXA" on the ASX.


About Les Wilson Inc

Les Wilson Inc. is based in Carmi, Illinois (USA) and specializes in vertical
and horizontal oil and gas well drilling services. They use modern rigs and
equipment, and have been servicing the oil drilling industry for over 70 years.


This announcement was made in Canada for the TSX.V and in Australia for the ASX.

Public documents for Strata-X Energy Ltd. can be found at SEDAR (Canada)
(www.sedar.com) and ASX.com.au (Australia).


CAUTIONARY STATEMENT

This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. The use of any of the words "anticipate", "continue", "estimate",
"expect", 'may", "will", "project", "should", 'believe", and similar expressions
is intended to identify forward-looking statements. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Readers are
cautioned that these forward-looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected and the forward-looking
statements included in this news release should not be unduly relied upon. See
"Risks and Uncertainties" in the Company's Filing Statement dated August 30,
2011 available on SEDAR at www.sedar.com. These forward-looking statements are
made as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances save as required
under applicable securities legislation. This news release does not constitute
an offer to sell securities and the Company is not soliciting an offer to buy
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
such jurisdiction.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strata-X Energy Ltd.
Tim Hoops (USA)
President
+1 720-515-8793
info@strata-x.com


Strata-X Energy Ltd.
Colin Christensen (Canada)
Investor Relations
+1 403-483-8363
colin@strata-x.com


Strata-X Energy Ltd.
Duncan Cornish (Australia)
Corporate Secretary
+61 7 3212-6299
dcornish@strata-x.com
www.strata-x.com

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