chairmans address and agm preso

out now... great read and in general increased my excitement level(again) after reading it - reaffirms the massive potential of this company


From the Chairmans address
US
"We are also now building on the relationships we have with other explorers in the United States and are planning to participate in a drilling campaign with another high quality partner in the US – we expect an announcement will be made on this in the near term."

Cooper
"Within the next 2 months we will start a 3 well drilling program to test gas content and permeability in coals that are known to be aerially extensive and in parts may have a composite thickness in excess of 80 metres. A substantial gas resource is inferred in the coals with much of the natural gas resources in Eastern Australia either already contracted or ear-marked for LNG projects there is plenty of market opportunity in the event of success. With an under-utilised open access gas pipeline from Moomba to Adelaide crossing the PEL96 permit, the lead time to development will be low – we expect even pilot production will generate cashflow."

Baniyas
"It is our intention to drill the Baniyas prospect during 2010 where seismic interpretation has identified a prospect with an upside of 47 million barrels of oil equivalent and where Strike Oil has a 40% equity interest. What is also exciting is that we see other potential in this area. In a future world of continued high oil prices we believe there is the potential to build a significant business around small to medium sized oil fields in this region."

Name Change
You will see in the Notice of Meeting that we are proposing to change the name of the Company to Strike Energy. Given the strong gas component in our business we feel this change better describes the company going forward. I would re-iterate however that this in no way lessens our commitment to create value for shareholders from profitable oil developments.

General comment
This is an exciting time to be a shareholder in Strike Oil.(tell me about it!!) In the coming weeks and months we will test the value potential of our priority projects. Success in any one of them has the potential to take the Company to the next level. Be assured, that is the intention of the Board and management.

Corp preso
Nothing much changed there - all good