Striker Oil and Gas (CE) (USOTC:SOIS)
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From Jun 2019 to Jun 2024
Striker Oil & Gas, Inc. (OTCBB:SOIS) announces that Striker along with
its working interest partners in the Catfish Creek Prospect located in
East Texas have now increased their acreage position to 12,800 gross
acres. This is an increase of more than 50% from the initial acreage
position acquired in this prospect.
This prospect has the potential for 25 to 40 wells to test the Pettit
and Rodessa intervals with estimated gross reserves of 125,000 barrels
of oil equivalent (BOE) per well for all zones or a gross prospect
potential of 5 million barrels of oil equivalent (BOE) reserves . The
shallow rights of this prospect include depths to 10,800 feet. Striker
has approximately 33% working interest before payout (25% after payout)
on the shallow rights of this prospect.
Striker recently announced that it had successfully drilled its third
well and completed its 4 mile gas pipeline on its Catfish Creek
Prospect. Striker owns a 25% interest in the pipeline.
“This prospect is developing into a very valuable asset for Striker with
excellent future growth opportunity. With the gas pipeline complete, the
operator of the prospect is currently planning the stimulations for the
three wells with the first well being worked on later this week based on
rig and frac service availability,” said Kevan Casey, Chief Executive
Officer of Striker.
About Striker Oil & Gas
Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company
headquartered in Houston, Texas and traded on the Over-the-Counter
Bulletin Board (SOIS.OB). The company is engaged in the search for and
sale of oil and gas reserves through both exploratory drilling and the
acquisition of producing properties. Striker’s objective is to cost
efficiently develop these properties and market the oil and gas
production at the wellhead. Striker is strategically focused along the
Texas Gulf Coast, East Texas and South Louisiana in areas of developed
infrastructure and established markets. For information please visit www.strikeroil.com.
Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements, including the company’s ability to
successfully acquire oil and gas properties and drill commercial wells.
These statements are based on current expectations and assumptions and
involve a number of uncertainties and risks that could cause actual
results to differ materially from those currently expected. For
additional information about Striker’s future business and financial
results, refer to our Quarterly Reports on Form 10-QSB, our Annual
Report on Form 10-KSB and the other filings we make with the Securities
and Exchange Commission. Striker undertakes no obligation to update any
forward-looking statements that may be made from time to time by or on
behalf of the company, whether as a result of new information, future
events or otherwise.