Appendix 3B

New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Strike Energy Limited

ABN

59 078 012 745

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1

2

3

+Class of +securities issued or to be issued

Number of +securities issued or to be issued (if known) or maximum number which may be issued

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for

payment; if +convertible securities, the conversion price and dates for conversion)

  1. Ordinary shares
  2. Unlisted options at 35 cents/each
  1. 1,558,280 ordinary shares
  2. 6,000,000 $0.35 options
  1. Fully paid
  2. $0.35 unlisted options expiring 25 Sep 2022

+ See chapter 19 for defined terms.

04/03/2013

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Appendix 3B

New issue announcement

4

Do the +securities rank equally in

Yes

all respects from the +issue date

with an existing +class of quoted

+securities?

If the additional +securities do

not rank equally, please state:

• the date from which they do

• the extent to which they

participate

for

the next

dividend, (in the case of a

trust, distribution) or interest

payment

• the extent to which they do

not rank equally, other than in

relation to the next dividend,

distribution

or

interest

payment

5

Issue price or consideration

1)

$0.23 per share

2)

$0.35 per option

6

Purpose of the issue

1)

Shares issued under the Share Purchase

(If issued as consideration for the

Plan for discretionary expenditure in Perth

acquisition of assets, clearly

and Cooper Basin projects

identify those assets)

2)

Options issued to Mr Neville Power as

approved by shareholders on 14 November

2019 AGM

6a

6b

Is the entity an +eligible entity Yes that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

The date the security holder 14 December 2018 resolution under rule 7.1A was

passed

6c

Number of +securities issued

Not applicable

without security holder approval

under rule 7.1

+ See chapter 19 for defined terms.

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Appendix 3B New issue announcement

6d

6e

Number of +securities issued Not applicable with security holder approval

under rule 7.1A

Number of +securities issued Not applicable with security holder approval

under rule 7.3, or another specific security holder approval (specify date of meeting)

6f

6g

6h

6i

Number of +securities issued Not applicable under an exception in rule 7.2

If +securities issued under rule

Not applicable

7.1A, was issue price at least 75%

of 15 day VWAP as calculated

under rule 7.1A.3? Include the

+issue date and both values.

Include the source of the VWAP

calculation.

If +securities were issued under

Not applicable

rule

7.1A

for

non-cash

consideration,

state

date on

which valuation of consideration

was released to ASX Market

Announcements

Calculate the entity's remaining

Rule 7.1 - 236,353,124

issue capacity under rule 7.1 and

rule 7.1A - complete Annexure 1

Rule 7.1A - 27,133,966

and release to ASX Market

Announcements

7

+Issue dates

10 December 2019

Note: The issue date may be prescribed by ASX

(refer to the definition of issue date in rule

19.12). For example, the issue date for a pro

rata entitlement issue must comply with the

applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

Number

+Class

8

Number

and +class

of

all

1,706,122,277

Ordinary shares

+securities

quoted

on

ASX

(including the +securities in

section 2 if applicable)

+ See chapter 19 for defined terms.

04/03/2013

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Appendix 3B

New issue announcement

9 Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)

Number

+Class

Options

6,000,000

$0.35 (expiry 22 Sep 2022)

13,000,000

$0.15

(expiry 21 Aug 2020)

6,000,000

$0.15

(expiry 16 Nov 2020)

10,000,000

$0.15

(expiry 17 May 2021)

2,000,000

$0.12

(expiry 7 Apr 2020)

12,156,175

Milestone Option (expiry 31

Dec 2019)

1,091,250

$0.155(expiry 31 Dec 2020)

272,523

$0.103 (expiry 31 Dec 2019)

Performance Rights

2,500,000

Expiry N/A

9,164,057

Expiry 30 Sep 2020

3,517,605

Expiry 30 Sep 2021

9,543,103

Expiry 30 Sep 2022

10

Dividend policy (in the case of a

Dividends not yet paid

trust, distribution policy) on the

increased capital (interests)

Part 2 - Pro rata issue

11

Is security holder approval

Not applicable

required?

12

Is the issue renounceable or non-

Not applicable

renounceable?

13

Ratio in which the +securities will

Not applicable

be offered

14

+Class of +securities to which the

Not applicable

offer relates

15

+Record date to determine

Not applicable

entitlements

16 Will holdings on different Not applicable registers (or subregisters) be

aggregated for calculating entitlements?

17

Policy for deciding entitlements in

Not applicable

relation to fractions

+ See chapter 19 for defined terms.

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New issue announcement

18 Names of countries in which the Not applicable entity has security holders who

will not be sent new offer documents

Note: Security holders must be told how their entitlements are to be dealt with.

Cross reference: rule 7.7.

19 Closing date for receipt of Not applicable acceptances or renunciations

20 Names of any underwriters

Not applicable

21

Amount of any underwriting fee

Not applicable

or commission

22

Names of any brokers to the issue

Not applicable

23

Fee or commission payable to the

Not applicable

broker to the issue

  1. Amount of any handling fee Not applicable payable to brokers who lodge
    acceptances or renunciations on behalf of security holders
  2. If the issue is contingent on Not applicable security holders' approval, the
    date of the meeting

26

Date entitlement and acceptance

Not applicable

form and offer documents will be

sent to persons entitled

27

If the entity has issued options,

Not applicable

and the terms entitle option

holders to participate on exercise,

the date on which notices will be

sent to option holders

28

Date rights trading will begin (if

Not applicable

applicable)

29

Date rights trading will end (if

Not applicable

applicable)

30

How do security holders sell their

Not applicable

entitlements in full through a

broker?

+ See chapter 19 for defined terms.

04/03/2013

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Appendix 3B

New issue announcement

  1. How do security holders sell part of their entitlements through a broker and accept for the balance?
  2. How do security holders dispose of their entitlements (except by sale through a broker)?

Not applicable

Not applicable

33

+Issue date

Not applicable

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of +securities (tick one)

(a)

+Securities described in Part 1

  1. All other +securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

  1. If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders
  2. If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories
    1 - 1,000
    1,001 - 5,000
    5,001 - 10,000
    10,001 - 100,000
    100,001 and over

37

A copy of any trust deed for the additional +securities

+ See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

  1. Number of +securities for which +quotation is sought
  2. +Class of +securities for which quotation is sought
  3. Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
    If the additional +securities do not rank equally, please state:
    • the date from which they do
    • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
    • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
  5. Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another +security, clearly identify that other +security)

42 Number and +class of all +securities quoted on ASX (including the +securities in clause 38)

Not applicable

Not applicable

Not applicable

Not applicable

Number

+Class

Not applicable

Not applicable

+ See chapter 19 for defined terms.

04/03/2013

Appendix 3B Page 7

Appendix 3B

New issue announcement

Quotation agreement

1

+Quotation of our additional +securities is in ASX's absolute discretion. ASX may

quote the +securities on any conditions it decides.

2 We warrant the following to ASX.

  • The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those +securities should not be granted +quotation.
  • An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

  • Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
  • If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
  1. We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
  2. We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

............................................................ Date: 10 December 2019

(Director/Company secretary)

Print name:

Justin Ferravant

== == == == ==

+ See chapter 19 for defined terms.

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Appendix 3B

New issue announcement

Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1

Rule 7.1 - Issues exceeding 15% of capital

Step 1: Calculate "A", the base figure from which the placement capacity is calculated

Insert number of fully paid +ordinary

1,246,208,187

securities on issue 12 months before the

+issue date or date of agreement to issue

Add the following:

• Number of fully paid +ordinary

132,751,518

securities issued in that 12 month

period under an exception in rule 7.2

• Number of fully paid +ordinary

securities issued in that 12 month

period with shareholder approval

196,727,788

• Number of partly paid +ordinary

securities that became fully paid in that

12 month period

Note:

• Include only ordinary securities here -

other classes of equity securities

cannot be added

• Include here (if applicable) the

securities the subject of the Appendix

3B to which this form is annexed

• It may be useful to set out issues of

securities on different dates as

separate line items

Subtract the number of fully paid

+ordinary securities cancelled during that

12 month period

"A"

1,575,687,493

+ See chapter 19 for defined terms.

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New issue announcement

Step 2: Calculate 15% of "A"

"B"

0.15

[Note: this value cannot be changed]

Multiply "A" by 0.15

236,353,124

Step 3: Calculate "C", the amount of placement capacity under rule

7.1 that has already been used

Insert number of +equity securities issued

or agreed to be issued in that 12 month

period not counting those issued:

• Under an exception in rule 7.2

• Under rule 7.1A

• With security holder approval under

rule 7.1 or rule 7.4

Note:

• This applies to equity securities, unless

specifically excluded - not just ordinary

securities

• Include here (if applicable) the

securities the subject of the Appendix

3B to which this form is annexed

• It may be useful to set out issues of

securities on different dates as

separate line items

"C"

0

Step 4: Subtract "C" from ["A" x "B"] to calculate remaining

placement capacity under rule 7.1

"A" x 0.15

236,353,124

Note: number must be same as shown in

Step 2

Subtract "C"

0

Note: number must be same as shown in

Step 3

Total ["A" x 0.15] - "C"

236,353,124

[Note: this is the remaining placement

capacity under rule 7.1]

+ See chapter 19 for defined terms.

Appendix 3B Page 10

04/03/2013

Appendix 3B

New issue announcement

Part 2

Rule 7.1A - Additional placement capacity for eligible entities

Step 1: Calculate "A", the base figure from which the placement capacity is calculated

"A"

1,575,687,493

Note: number must be same as shown in

Step 1 of Part 1

Step 2: Calculate 10% of "A"

"D"

0.10

Note: this value cannot be changed

Multiply "A" by 0.10

157,568,749

Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used

Insert number of +equity securities issued

Share Placement 11 Nov 2019:

or agreed to be issued in that 12 month

130,434,783

period under rule 7.1A

Notes:

  • This applies to equity securities - not just ordinary securities
  • Include here - if applicable - the securities the subject of the Appendix 3B to which this form is annexed
  • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained
  • It may be useful to set out issues of securities on different dates as separate line items

"E"130,434,783

+ See chapter 19 for defined terms.

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New issue announcement

Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A

"A" x 0.10

157,568,749

Note: number must be same as shown in

Step 2

Subtract "E"

130,434,783

Note: number must be same as shown in

Step 3

Total ["A" x 0.10] - "E"

27,133,966

Note: this is the remaining placement

capacity under rule 7.1A

+ See chapter 19 for defined terms.

Appendix 3B Page 12

04/03/2013

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Strike Energy Limited published this content on 10 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2019 07:35:05 UTC