Strata-X Finalizes Purchase of Unconventional Oil Project; Amends Private Placement

The directors and management of Strata-X Ltd ("Strata-X" or the "Company") (TSX
VENTURE:SXE) are pleased to provide the following updates. 


Completion of the Maverick Project Acquisition

Further to the Company's news release dated August 27, 2012, Strata-X is pleased
to announce the closing of a purchase and sale agreement ("Transaction") for the
purchase of exploration rights on the Maverick Oil Project which will target the
Eagle Ford Shale formation in South Texas (USA). The Maverick Project is a new
high potential oil development project for Strata-X and consists of up to a 75%
working interest in approximately 21,000 gross and 11,800 net acres in Maverick
County, Texas. The latter is located within the Maverick Basin of Texas which,
in turn, falls within the published boundaries of the Eagle Ford shale play.
Strata-X will be the operator of the properties. 


Under the terms of the Transaction, Strata-X purchased a 57.5% working interest
in the properties and holds an option to acquire a further 17.5% working
interest which is expected to close in the fourth quarter of 2012. Strata-X also
acquired a 15% working interest in a 660 acre production unit that was formed by
sellers to the Transaction. The Company, however, will not be the operator of
this 660 acre unit. The aggregate consideration paid under the Transaction was
approximately $1.75 million of which $750,000 was paid through the issuance of
3,000,000 common shares at a deemed price of $0.25 per share. The shares issued
pursuant to the Transaction are subject to a hold period expiring on January 27,
2013 and a contractual escrow period ending September 27, 2013. In order to
acquire the additional 17.5% working interest in the properties, Strata-X will
be required to pay $500,000 plus approximately US$136,500 in reimbursements,
bringing the total Transaction value to approximately $2.39 million.


Strata-X Amends Private Placement

Strata-X also advises that further to its press releases dated August 27, 2012
and August 29, 2012, it has amended the terms of the securities it is offering
in its $7 million non-brokered private placement, being unsecured convertible
notes (the "Notes") and units ("Units"), in order to attract a broader range of
investors. 


Each Unit will be priced at $0.25 and will comprise one common share and one
half of one common share purchase warrant (each whole warrant, a "Warrant").
Each Warrant shall entitle the holder to acquire one common share of the Company
at a price of $0.50 per share for a period of four years. 


The Notes shall have a term of two years. The principal amount of the Notes
shall bear interest at an annual rate of 5%, which interest shall be payable
semi-annually in arrears. The Notes shall be convertible to Units at a price of
$0.25 per Unit. The Notes will automatically convert into Units on the
completion of a potential dual listing on the Australian Securities Exchange
within the term of the Notes.


The Company may pay finders' fees to eligible parties and these fees may be in
the form of cash or securities. 


The proceeds of the private placement will be used for work upon the Company's
existing properties including the Vail property, the completion of the shale oil
project acquisition in Texas and for general working capital purposes. The
private placement is subject to approval of the TSX Venture Exchange.


Strata-X is a Edmonton, Alberta and Golden, Colorado 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 and
Western Australia and production and development opportunities in California and
Texas. Strata-X has 48,474,005 common shares outstanding and trades under the
symbol SXE on the TSX.V 


Public documents for Strata-X Ltd. can be found at SEDAR (www.sedar.com)

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
are 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.