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Strata-X Disposes of Non-Core Wyoming Asset


FOR: STRATA-X ENERGY LTD.
TSX VENTURE Symbol: SXE
ASX Symbol: SXA

Date issue: May 02, 2017
Time in: 7:30 PM e

Attention:

DENVER, CO and BRISBANE, AUSTRALIA and VANCOUVER, BC --(Marketwired - May 02, 2017) - The directors and management of Strata-X Energy Ltd. ("Strata-X" or the "Company") (TSX VENTURE: SXE) (ASX: SXA) announce that the Company is disposing of a historical working interest in an oil and gas lease ("Lease") located in Campbell County, Wyoming, USA. The Company has determined that the Lease is a non-core asset and plans to use available capital on advancing its core assets such as the Serowe CSG Project in the Republic of Botswana and the evaluation of new ventures.

The Company is entering into Assignments of Oil and Gas Lease Agreement ("Agreements") with Officers of the Company, being the Company's Chief Executive Officer, Tim Hoops and its Chief Financial Officer, David Hettich. The Officers will collectively acquire the Company's rights to the Lease with the Company retaining a royalty interest in the Lease. As Mr. Hoops and Mr. Hettich are officers of the Company and are 'related parties' to the Company within the meaning of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (MI 61-101), the transaction, as it relates to Messrs. Hoops and Hettich is a 'related party transaction' within the meaning of MI 61-101.

The terms of the Assignment of Oil and Gas Lease Agreement are identical and no consideration will accrue to the Company as a result of the Assignment of Oil and Gas Lease Agreement ("Agreement"). By assigning out this non-core project to third parties, the Company will retain a net 2.5% royalty interest after payout in the Lease.

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 the States of California and Illinois in the
United States of America and the Republic of Botswana. Strata-X has 89,825,208
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).

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, which relate to future
events or future performance, including but not limited to, the completion and
size of the Placement, receipt of regulatory approvals and timing thereof, the
Corporation's business strategies and plans for the use of such Placement
proceeds, capital expenditure programs and estimates relating to timing and
costs, and reflect management's current expectations and assumptions,
including, but not limited to the timing and receipt of necessary regulatory
approvals and third party approvals and completion of the Placement and
stability of general economic and financial market conditions. 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 , including imprecision in estimate capital
expenditures and operating expenses, stock market volatility, general economic
and business conditions in North America and globally, risks associated with
liquidity and capital resource requirements, 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 also
"Risks Factors" in the Company's Annual Information Form available on SEDAR at
www.sedar.com. Those factors are not, and should not be construed as being
exhaustive. 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.

- END RELEASE - 02/05/2017

For further information:

For further information please contact:
Tim Hoops (USA)
President
+1 855-463-2400
info@strata-x.com

COMPANY:
FOR: STRATA-X ENERGY LTD.
TSX VENTURE Symbol: SXE
ASX Symbol: SXA

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170502CC024

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.



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