The directors and management of Strata-X Energy Ltd. announce that the Company's application to drill a horizontal well called the Raccoon Creek #1 (Well) in the Vail Oil Project has been approved by the Illinois Department of Natural Resources. In furthering the Company's exploration plans for the Vail Oil Project, the Company has executed a drilling contract and is currently conducting 2D seismic operations for the Well.
The Raccoon Creek #1 is expected to test the Devonian Lingle formation and is the second horizontal appraisal well for Strata-X in the Vail Oil Project. The Well is located in Clay County, Illinois northwest of the town of Flora, Illinois, approximately 7 miles northeast of the Company's first horizontal test well, the Burkett 5-34HOR. The permit issued by the Illinois Department of Natural Resources for the Raccoon Creek #1 authorizes up to the following (approximate) drilling parameters: a true vertical depth of 4,500ft, a true measured depth of 9,300ft and a horizontal leg length of 4,300ft.