Strata-X Announces ASX Listing Update and the Purchase of Producing Properties for the Development of the Vail Oil Project

Strata-X Announces ASX Listing Update and the Purchase of Producing Properties 
for the Development of the Vail Oil Project 
02/05/13 -- The directors and management of Strata-X Energy Ltd
("Strata-X" or the "Company") (TSX VENTURE:SXE) are pleased to
provide an update on the Company's co-listing on the Australian
Securities Exchange ("ASX") and to announce that its subsidiary
company, Strata-X, Inc., has completed and closed a Transaction to
purchase three producing oil and gas leases ("Transaction") in the
State of Illinois, USA to further the development of the Vail Oil
The acquired properties cover 160 gross acres and include a total of
six wells, of which four are producing, one is shut-in and one is an
active salt water disposal well. Strata-X, Inc. will be the operator
of the properties. The total cost of the Transaction was $306,900
USD. Currently, the wells are producing approximately five barrels of
oil per day. The leases and wells acquired in the Transaction will
assist the Company in its exploration of the Vail Oil Project by
providing increased well control in the area in which the Company
intends to drill its first horizontal well, thereby reducing drilling
risk. Strata-X interprets there is significant production potential
remaining in this field and is planning to carry out modern enhanced
production methods to extract this potential including the use of
multistage hydraulic fracture completions. Strata-X is a first mover
on the Vail Oil Project and in order for the Company to continue the
low cost entry advantages of being first mover, it does not plan to
reveal the exact location of the Vail Oil Project until a later date. 
ASX Update: 
Further to the Company's press release dated December 21, 2012, the
Company is moving forward with its co-listed Initial Public Offering
of shares on the Australian Securities Exchange ("ASX"). The Offering
was opened on January 7th, 2013 and is expected to close on February
8th, 2013. The Company anticipates February 20th, 2013 will be the
first day the stock is traded on the ASX and will be traded under the
ticker symbol "SXA". The Company's existing shares will continue to
be traded on the TSX Venture Exchange under the symbol "SXE". 
About the Vail Oil Project: 
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 in 2012. The results of this technical
work led to the identification of a potential unconventional
continuous oil field in a dolomitic reservoir, referred to as the
Vail Oil Project located in the State of Illinois, USA. It is
interpreted to extend over an area of approximately 500 square miles.
The project is located at depths between 3,500 and 5,000 feet. 
The Company's in-house analysis covered 120 historic wells that
intersected the dolomitic reservoir. Taken together with data on oil
and gas recoveries from formation tests and reported oil shows in
samples from the reservoir, this analysis supports Strata-X's
interpretation that the reservoir is oil saturated. The dolomitic
reservoir target of the Vail Oil Project is below the New Albany
Shale, which is interpreted to have expelled in excess of 300 billion
barrels of oil (Lewan, et al., 2002). To date, the basin has produced
over 4 billion barrels of oil (Higley, et al., 2001), primarily from
structures above the source rock where several studies have
geochemically linked the oil produced from these reservoirs to the
New Albany Shale (Hatch, et al., 1990). 
Strata-X recognizes direct analogies between the Elm Coulee Oil
Field, located in the Williston Basin, and the Vail Oil Project.
According to the Montana Board of Oil & Gas Conservation website, Elm
Coulee has produced over 138 million barrels of oil equivalent to
date from a continuous, unconventional oil field from the Bakken
dolomitic reservoir and is expected to ultimately produce over 200
million barrels of oil (Sonnenberg and Pramudito, 2009). 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 5 million barrels of oil in place per section
(Walker, et al., 2006), which compares favorably to Vail's
interpreted 3 million barrels of oil in place per section at
shallower depths. Strata-X interprets that the target 50,000 net
acres at the Vail Oil Project contain over 230 million (undiscovered)
barrels original oil in place.(i) (see Cautionary Statement below). 
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 hydraulic fracturing
treatments at Elm Coulee have resulted in commercial oil flows with
July 2012 production from the field in excess of 33,000 barrels of
oil equivalent per day (Montana Board of Oil & Gas Conservation
website, accessed 9/19/12). 
Strata-X commenced acquiring 100% net working interests in oil and
gas exploration rights in two counties in the Illinois basin in early
2012 and to date has acquired an interest in 45,400 net acres. 
About Strata-X Energy Ltd 
Strata-X Energy Ltd and its wholly owned subsidiaries, Strata-X, Inc.
and Strata-X Australia Pty Ltd, is an independent oil and gas
exploration company listed on the TSX-V. Based in British Columbia,
Canada, Strata-X has a portfolio of petroleum projects which provides
a diversified collection of potential high growth opportunities for
Shareholders. The Company's strategy and goals are to discover and
develop oil and gas opportunities with relatively low entry costs, a
meaningful acreage position and a large working interest which
combine to create the potential for substantial growth for
Strata-X Energy currently owns or has rights to approximately
6,779km2 (1,675,160 net acres) in petroleum assets located in the USA
and Australia. The Company is primarily targeting near term growth in
conventional and unconventional oil resources in the USA. Longer term
growth is offered in the Company's successful strategic application
for 5,820 km2 (1,438,120 acres) in the Canning Basin, Western
Australia. Strata-X Energy owns and operates 100% of the majority of
its four key projects which provides the Company with flexibility in
terms of timing and approach to exploration and any subsequent
development of delineated oil and gas properties. The Company also
has interests in several other petroleum projects in the USA. 
Strata-X is engaged in the business of oil and gas exploration and
development with a variety of exploration opportunities in Texas,
North Dakota, California, Colorado, Illinois and Western Australia
and production and development opportunities in California. Strata-X
Energy Ltd has 63,737,105 shares outstanding. 
Public documents for Strata-X Energy Ltd. in Canada can be found at
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." Further the
Handbook 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." 
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 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. 
Strata-X Energy Ltd
Tim Hoops
Strata-X Energy Ltd
Colin Christensen
Investor Relations
Press spacebar to pause and continue. Press esc to stop.