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Striker Oil & Gas Looks to Increase Welsh Field Production By 100%

Posted on: Thursday, 12 June 2008, 09:01 CDT

Striker Oil & Gas, Inc. (OTCBB:SOIS) announced today that it has filed a permit application with the State Of Louisiana to convert a temporarily abandoned well in the Welsh field to a salt water disposal well. This will allow Striker to bring several of its shut-in wells online which could double its existing Welsh field production. Welsh has been producing approximately 35 barrels of oil per day from two productive wells with an additional two wells ready to produce that have been shut in due to the inability to dispose of the salt water. Striker anticipates it will begin this conversion within the next 15-45 days depending upon rig availability. Payout of the conversion is expected in one month. The Welsh Field has additional development opportunities through recompletions and new drilling locations.

"This is an additional step for us to maximize our production capacity in the Welsh Field." said Kevan Casey, Chief Executive Officer of Striker, "We hope to have these additional wells online by our 3rd fiscal quarter."

About Striker Oil & Gas

Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company headquartered in Houston, Texas and traded on the Over-the-Counter Bulletin Board (SOIS.OB). The company is engaged in the search for and sale of oil and gas reserves through both exploratory drilling and the acquisition of producing properties. Striker's objective is to cost efficiently develop these properties and market the oil and gas production at the wellhead. Striker is strategically focused along the Texas Gulf Coast, East Texas and South Louisiana in areas of developed infrastructure and established markets. For information please visit www.strikeroil.com.

Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire oil and gas properties and drill commercial wells. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Striker's future business and financial results, refer to our Quarterly Reports on Form 10-QSB, our Annual Report on Form 10-KSB and the other filings we make with the Securities and Exchange Commission. Striker undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

Source: Business Wire

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