Walyering West Drilling Commenced

• Drilling operations at Walyering West-1 have commenced with the Ensign 970 rig.
• Drilling ahead at 1,006m MDRT (measured depth).

Strike Energy Limited is pleased to provide an update on the near-field exploration drilling operations at Walyering West-1 (WAW-1) within L23 in the Perth Basin. Strike Energy Limited is operator and the holder of 100% equity in L23.

WAW-1 is a near-field exploration well located approximately 3 km from existing production infrastructure at the Walyering Gas Plant and is targeting sandstone reservoirs within the Cattamarra Coal Measures (CCM) formation, with the objective of evaluating gas and condensate potential within a proven hydrocarbon system.

Comments from Strike’s CEO & MD, Peter Stokes:
“Commencement of drilling at Walyering West-1 represents an excellent opportunity to unlock additional value from our Walyering asset.

As a near-field exploration prospect, success at this well has the potential to be rapidly commercialised through existing infrastructure, supporting efficient production growth and capital discipline.

Importantly, success would provide upside to our base business, further enhancing our production and development outlook.”

Current Operations
Rig maintenance and rig move operations were completed on schedule and without incident. Strike officially spud WAW-1 at 11:30 on Wednesday the 15th of April 2026. Drilling operations have commenced with the well drilling ahead at a depth of 1,006m MDRT.

Forward Plan
Strike will drill ahead to the first casing point at an approximate depth of 2,624m MDRT before running and cementing 9-5/8” casing in place. An 8-1/2” hole will be drilled to an approximate Total Depth of 3,639 m MDRT before running wireline logging and, on success, 7” casing to enable well testing.

Drilling operations are expected to take approximately 20 days, with preliminary results anticipated in early May. Further evaluation, including wireline logging and potential production testing, will be undertaken as part of the program.

Strike will update the market as material results become available.

About The Walyering West-1 Campaign
The Walyering West-1 well is located at Lat: 30° 43' 40.00" S, Long: 115° 27' 00.52" E. The well is targeting Jurassic aged conventional sandstone reservoirs within a fault bound, 4-way dip closure. ASX: STX The Company Announcement Officer ASX Ltd via electronic lodgement 16th April 2026 The Walyering West-1 well will be drilled down to a depth of 3,639 m MDRT and is designed to test Prospective Resource of 46 PJ1 within the A to D Sands of the Cattamarra Formation. On success, Walyering West-1 will be tied into the Walyering Gas Processing Facility located approximately 3 kilometers to the northeast.

Prospective Resource Estimate Information & Cautionary statement: The above estimated quantities of petroleum that may potentially be recovered by the application of a future exploration and development project(s) relate to undiscovered accumulations. These estimates are un-risked, probabilistically determined, and have both an associated chance of discovery of 26% and a chance of development estimated to be 90%. Further exploration, appraisal and evaluation is required via drilling and testing to determine the existence of a significant quantity of potentially moveable hydrocarbons.