On September 11, 2015, the Board of Directors of Stratex Oil & Gas Holdings, Inc, accepted the resignation of Michael J. Thurz, Chief Administrative Officer and Board Member. Mr. Thurz will continue to provide services to the company until October 8, 2015 under the terms of his employment contract. The company also announced that the Board of Directors of the company, accepted the resignation of Frederic Saalwachter, as a member of the Board of Directors of the company.

Mr. Saalwachter has found that with the current challenging conditions in the oil & gas industry and the time required to deal with those obligations he needs to resigne so that he can pursue his other business endeavors.