Strata-X Raises $4.181 Million in First Tranche of Private Placement

The directors and management of Strata-X Energy Ltd. (TSX VENTURE:SXE)
("Strata-X" or the "Company") are pleased to announce that further to its news
releases of August 27, 2012 and September 28, 2012, Strata-X has completed an
initial closing of its non-brokered private placement (the "Private Placement").


The Company raised gross proceeds of $4,181,000 through the sale of convertible
notes ("Convertible Notes"). The Convertible Notes are convertible to units at a
deemed price of $0.25 per unit (each a "Unit"). Each Unit comprises one common
share of the Company (a "Share") and one-half of a common share purchase
warrant, with each whole warrant being exercisable to acquire one common share
at a price of $0.50 per share for a period of four years from closing. The
Convertible Notes have a two year term and bear interest at an annual rate of
5%, which interest will be payable semi-annually in arrears in units comprising
one Share and one half of one warrant, at a conversion price based upon the
market price of the Company's common shares at the time interest is due. The
Notes will automatically convert into Units on the earlier of the completion of
a potential dual listing on the Australian Securities Exchange within the term
of the Note and the maturity date of the Notes.


The Company paid finder's fees of 5% of the proceeds placed in cash to certain
finders.


The proceeds of the Private Placement will be used for the acquisition of
additional lands in the Company's Vail project in the United States, the
exercise of an option to acquire a further 17.5% interest in the Maverick
project (see press release September 28, 2012), general working capital and the
costs of the offering.


All securities to be issued under the Private Placement will be subject to a
four-month statutory hold period in Canada ending March 2, 2013.


As part of the Private Placement, Strata-X non-Executive Chairman, Mr. Ron
Prefontaine, indirectly through the Prefontaine Superfund and Prepet Pty Ltd.
("Prepet"), acquired an aggregate of $750,000 of principal value Convertible
Notes, representing approximately 8.4% of the issued and outstanding Shareson a
partially diluted basis if all securities underlying the Convertible Notes
purchased by Mr. Prefontaine were converted and exercised.


Prior to this transaction, Mr. Prefontaine owned or controlled, directly or
indirectly, 6,356,000 Shares, 4,195,000 common share purchase warrants, 200,000
options and $1,000,000 in principal value convertible notes which if converted
in full would result in the issuance of a further 4,000,000 Shares and 2,000,000
common share purchase warrants.


 As a result of this transaction, Mr. Prefontaine now owns or controls, directly
or indirectly, 6,356,000 Shares, representing 12.91% of the issued and Shares.
He also owns or controls, directly or indirectly warrants to acquire a further
4,195,000 Shares, options to acquire a further 200,000 Shares and $1,750,000 in
convertible notes of the Company, which notes if converted in full, would result
in the further issuance of 7,000,000 Shares and warrants to acquire a further
3,500,000 Shares. If all of the convertible securities held by Mr. Prefontaine,
directly or indirectly, were fully exercised or converted, those Shares would
represent approximately 33.13% of the issued and outstanding Shares, on a
partially diluted basis.


There are no other persons acting jointly or in concert with the Prefontaine
Superfund, Prepet or Mr. Prefontaine. Mr. Prefontaine effected the acquisition
of the common shares for long term investment purposes. Mr. Prefontaine reserves
the right to purchase additional securities of the Company or to dispose of any
securities of the Company that he may own, from time to time.


Strata-X is a 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
49,231,505 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)

FOR FURTHER INFORMATION PLEASE CONTACT: 
Strata-X Energy Ltd.
Tim Hoops
President
303-550-5582
[e-mail]


Strata-X Energy Ltd.
Doug Walker
Corporate Secretary
780-439-8995