Striker Oil & Gas has success with second well on Catfish Creek prospect
  by: OilOnline
  Monday, June 02, 2008

Striker Oil & Gas, Inc. has successfully drilled its second well on its Catfish Creek Prospect located in East Texas.  The second well was drilled to a total depth of 10,670 feet to test the Bacon Lime and Gloyd sections of the Rodessa formation and the Pettit formations. Preliminary analysis indicates that the well came in high to the Catfish Creek No. 1 well in both the Pettit and Rodessa intervals. Net feet of potential pay in both zones approximate 32 feet.

This prospect consists of over 8,000 gross acres with depths earned to 100 feet below the base of the Pettit formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately 33% working interest before payout (25% after payout) on this prospect.

“We are very encouraged by the log in this second well and believe it to be better than our initial well which is currently producing.” said Kevan Casey, Chief Executive Officer of Striker, “This prospect is our biggest development project and we hope to begin a more aggressive drilling program in the near future to substantially add to our growing reserves.”

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