Strata-X Executes Drilling Contract for the First Horizontal Well at the Vail Oil Project
DENVER, COLORADO USA, BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA CANADA . April 7, 2013 (Pacific Standard Time-Canada)-
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX.V:SXE) (ASX:SXA) are pleased to provide an update on the Company’s Vail Oil Project in the Illinois Basin, Illinois (USA) where Strata-X currently has a 100% interest in 46,300 net acres. The Vail Oil Project is a high potential oil appraisal and development project with the first appraisal well due to commence in the second quarter of 2013.
The Company executed a Drilling Contract with Les Wilson Inc. for the drilling of the horizontal appraisal well in the Vail Oil Project. The Company will utilize Les Wilson Inc.’s rig #25 which is expected to be available to commence drilling Strata-X’s well in mid-May 2013.
Strata-X has submitted an application to drill the horizontal well to the proper regulatory agencies in the State of Illinois with the following expected parameters: a true vertical depth of 4,500ft, a true measured depth of 9,300ft and a horizontal leg length of 4,300ft. The permit to drill the well is expected to be approved by the State of Illinois in the coming weeks and will be followed by further press releases detailing the Company’s plans in this project.
More information about the Vail Oil Project and Strata-X’s portfolio of projects can be found on the Company’s website at www.strata-x.com.
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.
About Les Wilson Inc.
Les Wilson Inc. is based in Carmi, Illinois (USA) and specializes in vertical and horizontal oil and gas well drilling services. They use modern rigs and equipment, and have been servicing the oil drilling industry for over 70 years.
For Further information contact:
|Tim Hoops (USA)||or||Colin Christensen (Canada)||or||Duncan Cornish (Australia)|
|President||Investor Relations||Corporate Secretary|
|+1 720-515-8793||+1 403-483-8363||+61 7 3212-6299|
This announcement was made in Canada for the TSX.V and in Australia for the ASX.