2008-10-16 02:30:02 -
- Striker Oil & Gas, Inc. (OTCBB:SOIS) announced today that it has commenced drilling on the Catfish No. 3 well on its Catfish Creek Prospect located in East Texas. The well is the third well drilled by Striker in the Catfish Creek Prospect and the first well of a three well continuous program to exploit the Pettet and Rodessa formations
found in the two successful wells previously drilled by Striker. The Catfish No. 3 well will be drilled to a depth of 10,800 feet and is expected to reach total depth within 30 days.
This prospect consists of over 9,000 gross acres with depths earned to 100 feet below the base of the Pettet formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately a 33% working interest before payout (25% after payout) on this prospect.
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.
Striker Oil & Gas, Inc., Houston
Kevan Casey, 713-402-6700
Investors@strikeroil.com 
