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Strike Energy Limited, Operations Update 31 March 2016

Strike Energy Limited (ASX:STX) (“Strike”) is pleased to provide an update on production testing operations at the Southern Cooper Basin Gas Project (SCBGP) in PEL 96 (Strike 66.67% and Operator, Energy World Corporation (ASX:EWC) 33.33%).
Our disciplined production testing program continues to deliver encouraging results. We have:
-  Confirmed the high productivities of all wells tested to date;
-  Achieved sustained gas flows at all wells following limited reservoir pressure reduction – consistent with high gas saturation;
-  Achieved progressive increases in gas flow rates culminating in record gas flows in February;
-  Successfully achieved reservoir pressure reduction in an expanding zone extending out from the wells;
-  Established a gas ramp up production profile based on the measured, rapid build-up in gas flow rates;
-  Delivered all production testing initiatives on time and on budget;
-  Achieved significant reductions in drilling, completion and operating costs.
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