Directors Announce Acquisition of Options to Acquire Common Shares of Strata-X Ltd.

EDMONTON, ALBERTA--(Marketwire - Oct. 17, 2011) - Effective September 22, 2011, Tim Hoops was granted an option to acquire up to 1,000,000 common shares of Strata-X Ltd. (TSX VENTURE:SXE) ("Strata-X") and Ron Prefontaine was granted an option to acquire up to 200,000 common shares of Strata-X. The options are exercisable at a price of $0.30 per share and each has a term of 10 years from date of grant. The options may terminate earlier in accordance with the terms of the stock option agreements.

Mr. Hoops, a director and senior officer of Strata-X, and his spouse are the only shareholders of Peak Resource Management, Inc. ("Peak") a private company which currently holds 6,000,000 common shares of Strata-X, representing approximately 14.2% of the issued and outstanding common shares of Strata-X and warrants to acquire up to 3,000,000 common shares. In addition, Peak holds 60.4% of the shares of R&M Oil and Gas, LLLP which, in turn, holds 6,000,000 common shares and 3,000,000 warrants of Strata-X.

Mr. Prefontaine, a director of Strata-X, and his spouse are the only shareholders of Prepet Pty Ltd. ("Prepet") a private company which currently holds 5,636,000 common shares of Strata-X, representing approximately 13.4% of the issued and outstanding common shares of Strata-X and warrants to acquire up to 2,200,000 common shares. In addition, Mr. Prefontaine holds an option to acquire up to 520,000 common shares of Strata-X which was granted November 29, 2010, for a term of 10 years, subject to earlier termination in accordance with the terms of the stock option agreement.

As a result of this grant of options, Mr. Hoops will hold an option to acquire up to 1,000,000 common shares directly and beneficially (representing approximately 2.4% of the issued and outstanding common shares of Strata-X) and he indirectly holds a proportionate share of 6,000,000 common shares (representing the approximately 14.2% of the issued and outstanding common shares of Strata-X) held indirectly through Peak. In addition, Peak holds 60.4% of the shares of R&M Oil and Gas, LLLP ("R&M") which, in turn, holds 6,000,000 common shares and 3,000,000 warrants of Strata-X. There are no other persons acting jointly or in concert with Mr. Hoops, Peak and R&M.

Mr. Prefontaine holds options to acquire up to 720,000 common shares directly and beneficially (representing approximately 1.7% of the issued and outstanding common shares of Strata-X) and he indirectly and beneficially holds, through Prepet, a proportionate share of a total of 5,636,000 common shares (representing approximately 13.4% of the issued and outstanding common shares of Strata-X). There are no other persons acting jointly or in concert with Mr. Prefontaine and Prepet.

The options granted to Messrs. Hoops and Prefontaine were authorized by the board of Strata-X in accordance with the incentive stock option plan of Strata-X. Messrs. Hoops and Prefontaine, Peak, R&M and Prepet each reserve the right to purchase additional securities of Strata-X or to dispose of any securities of Strata-X that they may own, from time to time.

For additional information, or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact Doug Walker.