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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 Updates Burkett 5-34HOR Well, Reports Oil Shows, Vail Oil Project

25/07/2013 12:30am

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 reached total depth (4,730 ft) on the vertical drilling of the Burkett
5-34HOR well for the Vail Oil Project. In drilling the vertical portion of the
well, oil and gas shows were encountered in the targeted Devonian Lingle
formation and a drill stem test of the target recovered gas and oil cut mud.
Coring of the target zone was completed with the Company recovering 59 feet of
core. The core is presently being processed at the Weatherford core facilities
in Colorado for analysis. Preliminary results indicate approximately 10 feet of
oil saturation in the Lingle Formation which is in line with Company
expectations. Well logs have been successfully run and operations to set the
kick off plug are underway before proceeding to the horizontal portion of the
well. The Company owns a 100% working interest in the well and in 48,000 net
acres in the project overall. 


The Burkett 5-34HOR well is being drilled in Clay County, Illinois, west of the
town of Xenia, Illinois. As previously announced (Press Release dated April 7,
2013), the Company executed a Drilling Contract with Les Wilson Inc. for the
Burkett 5-34HOR well which is expected to test the Devonian Lingle formation, a
dolomitic reservoir which lies directly below the hydrocarbon rich New Albany
Shale. 


As previously announced (Press Release dated July 17, 2013) the Company has
released an Investor Presentation on the Vail Oil Project which can be found
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. 


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).


By definition of the COGE Handbook - "Undiscovered resources are those
quantities of oil and gas estimated on a given date to be contained in
accumulations yet to be discovered." The Handbook further states - Caution (per
NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the
resources will be discovered. If discovered, there is no certainty that it will
be commercially viable to produce any portion of the resources." In addition,
per NI 51-101/5.6 "the estimated values disclosed do not represent fair market
value."


CAUTIONARY STATEMENTS

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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strata-X Energy Ltd.
Tim Hoops (USA)
President
+1 855-463-2400
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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