Ann: Rig secured for West Erregulla Appraisal, page-2

Strike Energy Limited (Strike - ASX: STX) is pleased to provide an update on behalf of the EP469 Joint Venture. The Joint Venture has entered into a long-term contract with Ensign Energy Services for the provision of drilling services with the Ensign 970 drilling rig.With the rig secured, West Erregulla 3 is due to spud during Q3/20 with mobilisation to commence after civil works are complete for the drill pad construction. West Erregulla 4 will follow shortly after with the timing dependent on the regulatory approvals process. West Erregulla 5 planning is also underway with a decision by the EP469 JV due no later than 30th of November 2020 to make this well a firm commitment, with Strike having procured a contingent drilling slot on the Ensign 970 for this activity.The Ensign 970 is an ADR-1500 model rig with a hook load of 750,000 lbs. This model has a proven track record of drilling wells of an equivalent depth to West Erregulla 2 in North America. Ensign will also execute capital upgrades to the rig, including a significant increase in pumping capacity to support the larger bore hole diameters for the West Erregulla appraisal campaign. Strike has recent experience with Ensign, with Rig 970 being the ‘sister’ rig of the Ensign 965 which was used for drilling the Jaws Project in the Cooper Basin.West Erregulla is within EP469 of which Strike Energy Limited is Operator and holder of a 50% interest in joint venture, with Warrego Energy Limited, which holds the remaining interest.