Strike Petroleum plans private placement of flow-through shares

By Sheri Kasprzak

New York, July 28 - Strike Petroleum Ltd. said it plans to conduct a private placement of flow-through shares.

The shares will be sold at C$1.15 each. The number of shares being offered has not yet been determined.

The non-brokered deal is scheduled to close in mid-August.

The company has 20,112,275 outstanding common shares currently.

Also on Friday, Strike announced that it has entered into a farm-in agreement with an independent producer to test potential seismic anomalies with three wells in the Kirkpatrick/Youngstown area of Alberta.

Calgary, Alta.-based Strike is an oil and natural gas exploration company.

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