Ann: Successful Walyering-7 Appraisal Results, page-2

Successful Walyering-7 Appraisal • Walyering-7 has intersected a high-quality conventional gas accumulation in an additional compartment to the north-east of the Walyering gas field. • A total of 23m of net gas pay with an average porosity of 16% has been measured. • Multiple logs, mobility and reservoir pressures have been collected with individual interval characteristics including: o A Sand: 22m of net pay at an average porosity of 16%, 4,210 psia pressure o D Sand: 1m of net pay at an average porosity of 15%, 4,835 psia pressure Strike Energy Limited (Strike - ASX: STX) is pleased to provide an update on the Walyering-7 (W7) well which has intersected a high-quality conventional gas accumulation to the north-east of the currently producing Walyering gas field within Production Licence L23 (100% net to Strike) within the Perth Basin. Walyering-7 intersected the primary sandstone reservoirs within the Cattamarra Coal Measures that have been mapped throughout the Walyering gas field. Mud logs, logging while drilling (LWD) logs, mobilities and reservoir pressures have been collected across these reservoirs. A total of 23m of net gas pay at an average 16% porosity has been interpreted, where the intervals identified as net pay are made up of blocks of high-quality reservoir within much larger gross sections. A breakdown of the individual reservoirs that are to be tested is captured in the table below: Reservoir Interval Top MD (-m) Gross Interval (m) Net Pay (m) Maximum Porosity (%) A Sand 3,340 142 Average Porosity (%) Reservoir Pressure