Strata-X Releases Copper Mountain Oil Project Resource Report

The directors and management of Strata-X Energy Ltd. ("Strata-X" or the
"Company") (TSX VENTURE:SXE)(ASX:SXA) are pleased to announce that Chapman
Petroleum Engineering Ltd ("Chapman"), the Company's third party engineering
evaluator, has issued a Prospective Resource report ("Report")  for the Copper
Mountain Oil Project ("Project").(1) 


The Report provides a Best Estimate Prospective Resource, net to the Company's
interest, in the Project of 12,837,000 barrels of oil, with an un-risked value
of approximately $320 million and a risked value of approximately $75 million
(collectively when using a 10% discounted rate).(1) ASX disclosure note - 5.28.2
- The estimated quantities of petroleum that may potentially be recovered by the
application of a future development project(s) relate to undiscovered
accumulations. These estimates have both an associated risk of discovery and a
risk of development. Further exploration appraisal and evaluation is required to
determine the existence of a significant quantity of potentially moveable
hydrocarbons. 


The Company commissioned the Report to obtain a formal estimate of Prospective
Resources in the targeted Middle Devonian aged Grand Tower and Lingle Formations
of the Project. The Grand Tower is directly beneath the Lingle Formation (target
interval for the Vail Oil Project). The Lingle and Grand Tower make up the
Middle Devonian age formation in this portion of the Illinois Basin. In the
Report, Chapman estimated that there is a total of 128 million barrels of
Petroleum Initially in Place ("PIIP", unrisked, undiscovered) net to the
Company's economic interest in the Middle Devonian formations.(1) Chapman
arrived at this PIIP figure after completing an analysis of the available
technical data including the geological and geophysical interpretation presented
to them by Strata-X, information from relevant nearby wells or analogous
reservoirs and the proposed program for the project. The Report reviewed only
Prospective Resources as the Project is not sufficiently developed to assign
Contingent Resources or Petroleum Reserves to the Project.(1)


The Report encompasses approximately 20,146 net acres in one of three counties
the Company is working in the Illinois Basin. The report was conducted in
accordance with National Instrument 51-101, Sec 59 of the Canadian Securities
Administrators and is compliant with the internationally accepted Petroleum
Resource Management System standard. Not included in the Report are estimates of
the resource potential of the historically targeted shallower zones of the
Mississippian formation. Resource estimates of the Mississippian formations
covering the Project are forthcoming.


Acquisition Background

In April 2014, Strata-X purchased 23,595 net acres of production and exploration
assets in the Illinois Basin adjacent to its existing Vail Oil Project. The
acquisition, known as the Copper Mountain Oil Project, is prospective for
conventional and unconventional light oil accumulations in shallow Mississippian
age formations (from 700 metres depth) as well as the deeper Middle Devonian age
formation (approx. 1200 to 1600 metres depth). Total consideration paid to the
un-disclosed seller of the project was USD$2.25 million. Included in the Project
acquisition is the Blessing 1-4H horizontal well drilled by the prior operator
in mid 2013. This well produced light oil from the Grand Tower Formation and is
currently shut in awaiting production equipment. The Company is nearing
completion of a water disposal flow line with the plan to carry out a long term
production test of the well. 


Illinois Basin Summary

The Company's flagship oil projects are in the proven and mature Illinois Basin
where production dates back to 1894 with over 4 billion barrels of oil produced
to date (Higley, et al., 2001). Over 140,000 wells have been drilled, with about
32,000 wells still producing in the basin where 600+ oil fields produced
approximately 13 million barrels in 2013 (US-EIA Crude Oil Statistics). The
basin produces a high quality, light, sweet crude oil in multiple conventional
shallow structural traps. The basin has ideally located close to production
infrastructure including refineries and pipelines nearby and a well services
industry. 


Recent mapping, drilling and testing of prospective zones demonstrates
significant unconventional and light oil potential. The Company believes
integrated data analysis combined with new drilling and completion technologies
are key to unlocking the basins additional potential. The Company has 100%
interest in approximately 72,000 net acres with multiple target zones from
shallow vertical depths of between 700 - 1,600 meters.


President and Managing Director, Tim Hoops, stated: "This Report establishing a
Prospective Resource for the Project at 12.8 million barrels of oil net to the
Company provides a substantial increase in the Prospective Resources we
previously held in the Illinois Basin of 19 million barrels in the Vail Oil
Project.(2) In our opinion, this large Prospective Resource base reduces the
overall risk the Company faces as we expand the number of oil rich formations we
are prospecting in."


For a summary of the Report and additional details on this Project, please see
the Copper Mountain Oil Project Presentation on the Company's website at
www.strata-x.com.


(1) Resource information cited in this News Release for the Copper Mountain Oil
Project are Prospective Resources, per an independent third party report
effective 1 April 2014 ("Report") from Chapman Petroleum Engineering Ltd.
("Chapman") who's author, Charles Moore, a registered Professional Engineer in
the Province of Alberta, Canada, consents to the inclusion of this resource
information in this Presentation as it appears and information relating to the
Prospective Resource is based on, and fairly represents, information and
supporting documentation prepared by Charles Moore. There is no certainty that
stated resources will be commercially viable to produce any portion of the
resources. The Report reviewed only Prospective Resources as the project is not
sufficiently developed to assign Contingent Resources or Petroleum Reserves to
it, further, all Petroleum Initially in Place figures relate to undiscovered
quantities. Figures shown reflect Strata-X's economic interest (US Dollars) net
of royalty or other burdens and were generated, using the deterministic method.
Forecasted figures were derived using forward commodity strip pricing, regional
drilling, completion and production expenditures and applicable production
taxes. Strata-X is the title holder of the tenement/leases held covering the
Copper Mountain Oil Project which were subject to the Report. The Report
reviewed approximately 800 tenements/leases held by the Company with individual
owners covering 20,146 net acres with each tenement/lease having a range of
expiration dates, royalties and other provisions. Prospective Resources were
determined in the Report after Chapman completed an analysis of the available
technical data including the geological and geophysical interpretation presented
to them by Strata-X, information from relevant nearby wells or analogous
reservoirs and the proposed program for the project. Chapman estimated a
Probability of Commercial Success of 25% associated with the reported
Prospective Reserves with a 33% chance of discovery and calculated the net
capital exposure of this project to the Company of $5,625,000, representing the
cost of drilling, completing, testing and abandoning three dry holes which
exploration timing is not yet known. In establishing the Probability of Success,
Chapman gave consideration to both geological and commerciality factors. The
geological factors include the four main geological components of a petroleum
system needed for commercial production, source rocks available to generate
hydrocarbons, reservoir rocks to accumulate hydrocarbons, a stratigraphic or
structural trapping mechanism with a seal to hold hydrocarbons and a mechanism
and proper geological timing allowing for hydrocarbons to migrate into the trap.



The estimated quantities of petroleum that may potentially be recovered by the
application of a future development project(s) relate to undiscovered
accumulations. These estimates have both an associated risk of discovery and a
risk of development. Further exploration appraisal and evaluation is required to
determine the existence of a significant quantity of potentially moveable
hydrocarbons. 


(2) This information relates to Petroleum Reserves/Prospective
Resources/Contingent Resources that was prepared and published by AWT
International dated 18 December 2012 and published in Strata-X Energy Ltd's
"Prospectus 2013" (available online at www.strata-x.com) as part of the
Companies 2013 Australia Securities Exchange Initial Public Offering and is
based on, and fairly represents, information and supporting documentation
prepared by, or under the supervision of Doug Barrenger ("JORC Competent
Person"), employed by AWT International and is independent of Strata-X Energy
Ltd. At the time of the Prospectus 2013 issuance, Doug Barrenger was an employee
of AWT International and a member of the Exploration Society of Australia (PESA)
amongst other professional petroleum organisations. AWT International consents
to the inclusion of this information in this document. As of the issuance of
this document Strata-X Energy Ltd management is not aware of any material
information that would change the results of the AWT International report as
published in the Prospectus 2013. 


About Strata-X

Strata-X is a Denver, Colorado (USA) based company and is engaged in the
business of oil and gas exploration and development with a variety of
exploration opportunities in North Dakota, California, Colorado, Texas, Illinois
and Western Australia and production and development opportunities in
California. Strata-X has 139,785,415 common shares outstanding and trades under
the symbol "SXE" on the TSX-V and "SXA" on the ASX. 


This announcement was made in Canada for the TSX.V and in Australia for the ASX.

Public documents for Strata-X Energy Ltd. can be found at SEDAR (Canada)
(www.sedar.com) and ASX.com.au (Australia).


By definition of the COGE Handbook - "Undiscovered resources are those
quantities of oil and gas estimated on a given date to be contained in
accumulations yet to be discovered." The Handbook further states - Caution (per
NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the
resources will be discovered. If discovered, there is no certainty that it will
be commercially viable to produce any portion of the resources." In addition,
per NI 51-101/5.6 "the estimated values disclosed do not represent fair market
value."


CAUTIONARY STATEMENTS

This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. The use of any of the words "anticipate", "continue", "estimate",
"expect", 'may", "will", "project", "should", 'believe", and similar expressions
is intended to identify forward-looking statements. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Readers are
cautioned that these forward-looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected and the forward-looking
statements included in this news release should not be unduly relied upon. See
"Risks and Uncertainties" in the Company's Filing Statement dated August 30,
2011 available on SEDAR at www.sedar.com. These forward-looking statements are
made as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances save as required
under applicable securities legislation. This news release does not constitute
an offer to sell securities and the Company is not soliciting an offer to buy
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
such jurisdiction.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strata-X Energy Ltd.
Tim Hoops (USA)
President
+1 855-463-2400
info@strata-x.com


Strata-X Energy Ltd.
Colin Christensen (Canada)
Investor Relations
+1 403-483-8363
colin@strata-x.com


Strata-X Energy Ltd.
Duncan Cornish (Australia)
Corporate Secretary
+61 7 3212-6299
dcornish@strata-x.com
www.strata-x.com
Strata X Energy (TSXV:SXE)
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