Company History

Strike Oil Limited had its origins with the formation of a public unlisted company Strike Oil NL in May 1997. The company participated in its first well, Longhorn 1 in the Carnarvon Basin in the same year and continued to focus its operations in Australia, resulting in the Casino gas discovery in 2003 which was later sold.

Shortly thereafter, in 2004, Strike listed its coal seam gas assets as Comet Ridge Limited and its other assets in the Carnarvon Basin and the Cooper-Eromanga Basin, as Strike Oil Limited.

The company then expanded into the USA focusing on the Gulf Coast, Texas and Rocky Mountains region, Colorado, as a non-operator. It achieved its first revenue from the Mesquite discovery in Texas in 2006. More recently the Company has experienced success at the Rayburn prospect, also in Texas.

In 2007 the company established a 100% owned subsidiary, Hybrid Energy Australia Pty Ltd which has tenure over a 578mt, JORC compliant, lignite (brown coal) deposit in South Australia. The company’s FuturGas project is targeting a low emissions power generation and coal to liquids project.

Effective from 26 June 2008, Strike Oil sold the Rocky Mountain interests it held in Joint Venture with Comet Ridge Limited.

The company is continuing to explore in the Gulf Coast, onshore Texas; Carnarvon Basin, Australia and Cooper-Eromanga Basin, Australia. A significant drilling program is planned over the next few years.

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