Strata-X Releases Vail Oil Project Presentation, Updates on Drilling
DENVER, COLORADO USA, BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA CANADA . July 17, 2013 (Pacific Daylight Time-Canada)-
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX.V:SXE) (ASX:SXA) are pleased to announce that the Company has released an investor presentation on the Vail Oil Project which can be found at the Company’s website at www.strata-x.com. Click Here to download the Project Primer.
As previously announced on July 9 2013, Strata-X has started drilling the Burkett 5-34HOR well which is the first Company appraisal well in the Vail Oil Project. The Company owns a 100% working interest in the well and 48,000 net acres in the project overall. As of the time of this Press Release, the Company is currently drilling ahead at an approximate depth of ~3,450ft on the vertical portion of the well.
Strata-X anticipates drilling the Burkett 5-34HOR well in two stages. First, the Company plans to drill a vertical hole to the top of the target formation and then core approximately 60 feet of the formation. Once this first stage has been completed, the Company intends to plug back the vertical section of the well and drill the horizontal leg. The information gained from the analysis of the core and well logging is expected to assist the Company in designing the most efficient completion method for the well. The Company anticipates drilling operations to take approximately 40 days.
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.
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.