Strata-X Moving Forward on Two New Unconventional Oil Projects in the USA

The directors and management of Strata-X Ltd ("Strata-X" or the "Company") (TSX
VENTURE:SXE) are pleased to provide the following update on the acquisition of
two new high potential oil development projects.


Leasing for oil and gas exploration rights on the first project, the Vail Oil
Project, has so far yielded approximately 35,800 gross and 33,850 net acres
towards a target of 50,000 acres. The Company has 100% direct working interest
and operates the project. 


Strata-X has also entered into a conditional agreement to acquire and operate
75% working interest of approximately 21,000 gross and 15,000 net acres over a
shale oil project in Texas.


To fund the ongoing acquisition of the Vail Oil Project and the Texas shale oil
project, the Company plans to raise up to $7 million through the sale of
convertible debentures.


Strata-X is 'First Mover' on the Vail Oil Project  

Strata-X completed an extensive in-house analysis of a highly productive onshore
USA basin earlier this year. The results of this technical work led to the
identification of an unconventional continuous oil field in a dolomitic
reservoir, referred to as the Vail Oil Project, which is interpreted to extend
over an area of approximately 600 square miles. The Project is located on the
western flank of the basin at depths between 3,500 to 5,000 feet. 


Strata-X, in-house, log analysis has interpreted oil saturations in 120 historic
wells that intersected the dolomitic reservoir. The numerous oil recoveries and
oil shows from the reservoir supports the log analysis. 


The dolomitic reservoir target of the Vail Oil Project is immediately below a
world-class source rock which is interpreted to have expelled between 300 and
1,000 billion barrels of oil. To date the basin has produced about 4.3 billion
barrels of oil primarily from structures above the source rock.


Strata-X recognizes direct analogies between the Elm Coulee Oil Field, located
in the Williston Basin, and the Vail Oil Project. Elm Coulee has produced over
123 million barrels to date from a continuous, unconventional oil field from the
Bakken dolomitic reservoir and is expected to ultimately produce over 250
million barrels of oil. The dolomitic reservoirs in both Vail and Elm Coulee are
of the same geological age, have similar thickness and are immediately below
highly generative source rocks.


Elm Coulee has about 4 million barrels of oil in place per section which is
similar to Vail's interpreted oil in place per section. Strata-X interprets the
target 50,000 net acres at the Vail Oil Project contains over 240 million
barrels original oil in place (OOIP). 


Oil was intersected in many historic wells at Elm Coulee but, like Vail, oil
flows and recoveries were sub-commercial in the early vertical wells. More
recent horizontal fracturing treatments at Elm Coulee have resulted in
commercial oil flows with current production from the field is in excess of
30,000 barrels per day. Strata-X believes modern horizontal drilling and
completion techniques on the Vail Oil Project will have similar commercial oil
flows and recoveries as the Elm Coulee results.


Strata-X commenced acquiring 100% net working interests in oil and gas
exploration rights in two counties in the basin in early 2012. To date, the
Company has acquired approximately 35,800 gross and 33,850 net acres for the
Vail Oil Project at attractive terms. The Company's net revenue interest in the
leases is 86.13% with the primary terms of the leases, including options to
extend, not expiring until the middle of calendar year 2017. The average total
acquisition cost so far has been $70.71 per net acre which includes all
acquisition costs including labor.


Strata-X is the first mover on the Vail Oil Project. In order for the Company to
continue the low cost entry advantages of being first mover, it does not plan to
reveal the location of the Vail Oil Project until after the Company reaches its
target of 50,000 acres. Strata-X hopes to reach this target later this year.


Strata-X signs agreement to conditionally purchase a Shale Oil Project in Texas 

Strata-X has entered into a conditional agreement for an option to acquire 75%
working interest of approximately 21,000 gross and 15,000 net acres and operate
a shale oil project in Texas for aggregate consideration of about $2.25 million.
Approximately $750,000 of the consideration will be paid through the issuance of
common shares of the Company at a deemed price of $0.25 per share. Strata-X and
the selling companies have until 24 Sept 2012 to meet the conditions of the
agreement with all parties currently working towards fulfilling those
conditions. An additional payment by Strata-X to secure 3 year leases on the
acres acquired is due by 30 November 2012. More details will be made available
after the acquisition is unconditional and finalized.


Strata-X to raise up to $7 million 

The Company is also pleased to announce a brokered private placement to raise up
to $7,000,000 through the issuance of unsecured convertible debentures (the
"Debentures" or "Notes"). The Debentures shall have a term of one year. 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 Debentures shall be
convertible to units at a deemed price of $0.25 per unit. Each unit (a "Unit")
will be made up of one common share and one-half of a 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 two years. The Debentures shall automatically convert into Units at
the end of term.


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, and production and
development opportunities in California and Texas. Strata-X has 44,990,656
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.