An Emerging Illinois BasinOil Producer

Ron PrefontaineChairman 

ron@strata‐x.comwww.strata‐x.com

TSX.V: SXEASX: SXA

November 2014

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These factors are not, and should not be construed as being, exhaustive. In addition, information relating to "reserves" or " resources" is deemed to be forward-lookinginformation, as it involves an implied assessment, based on certain estimates and assumptions that the reserves and resources described can be profitably produced inthe future. The forward-looking information contained in this presentation are expressly qualified by this cautionary statement. The Company does not undertake anyobligation to publicly update or revise any forward-looking information after the date of this presentation to conform such information to actual results or to changes in theCompany’s expectations except as otherwise required by applicable Canadian securities legislation.

Certain information contained in this presentation constitutes “forward-looking information” within the meaning of applicable Canadian securities legislation. The use ofany of the words "anticipate", "continue", "estimate", “intend”, “potential”, "expect", "may", "will", "project", “proposed”, "should", "believe" and similar expressions areintended to identify forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties andother factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. In addition, this presentation maycontain forward-looking information attributed to third party industry sources. The Company believes that the expectations reflected in such forward-looking informationare reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this presentation shouldnot be unduly relied upon. Such information speaks only as of the date of this presentation or such other date indicated herein.

Forward Looking Statements

• expectations regarding growth of the Company;• the timing and location of drilling or other operational activities;• oil and natural gas production estimates and targets;• oil and natural gas production levels and sources of their growth;• estimates of resource potential of targets, including without limitation, statements

regarding BOE/d production capabilities;• quantity of reserves and resources relating to the Company and its assets and its

value;• capital expenditure programs and estimates relating to timing, cost and cash flow

generation related to these programs;• size of the Company’s oil and natural gas reserves and resources;

• the performance characteristics of the Company’s oil and natural gas properties;• projections of market prices for oil and natural gas and exploration, development

and production costs;• supply and demand for oil and natural gas;• expectations regarding the ability to raise capital and continually add to reserves

through exploration and development and, if applicable, acquisitions;• treatment under governmental regulatory regimes and tax laws, and;• the use of financing funds by the Company.

• timing and ability of the Company to obtain all necessary environmental andregulatory approvals relating to operations;

• the recoverability of the Company’s oil and natural gas reserves and resources;• interest rates;• exchange rates and the futures prices of oil and natural gas;• operating and capital costs;

• the Company’s ability to generate sufficient cash flow from operations and toaccess capital markets to meet its future obligations;

• the Company’s ability to attract and retain qualified personnel;• the ability of the Company to successfully market its oil and natural gas products

and the continuing strong demand for oil and natural gas; and• stability of general economic and financial market conditions;

With respect to forward-looking information contained in this presentation, the Company has made assumptions regarding, among other things:

In particular, this presentation contains forward-looking information pertaining to the following:

• volatility in market prices for oil and natural gas;• liabilities inherent in oil and natural gas operations;• uncertainties associated with estimating oil and natural gas reserves and

resources;• risks and uncertainties associated with the Company's oil and natural gas and

development program;• competition for, among other things, capital, acquisitions of reserves,

undeveloped lands and skilled personnel;• incorrect assessments of the value of acquisitions and exploration and

development programs;• adverse claims made in respect of the Company’s properties or assets;• failure to engage or retain key personnel;• geological, technical, drilling and processing problems, including the availability of

equipment and access to properties;• risks and uncertainties relating to hydraulic fracturing and the enactment of, or

changes to, regulations and legislation in relation to hydraulic fracturing;

• imprecision in estimating capital expenditures and operating expenses;• the expiry of leases and the loss of drilling prospect due to the expiry of leases;• fluctuations in foreign exchange interest rates and stock market volatility;• general economic and business conditions in North America and elsewhere;• environmental risks and hazards;• risks inherent in the exploration, development and production of oil and natural

gas which may create liabilities to the Company in excess of the Company’sinsurance coverage, if any;

• uncertainties associated with changes in legislation including, but not limited to,changes in income tax laws and to oil and natural gas royalty frameworks;

• ability to obtain regulatory approvals;• risks and uncertainties associated with liquidity and capital resources and

requirements; and• other factors referenced at “Risk Factors’ in the Company’s prospectus.

The Company's actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors set forth below and in theCompany’s annual information form dated September 25, 2014:

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Strata-X’s Illinois Basin – Recent success of high margin oil

High margin light sweet crude located in the heartland of the USA where success = immediate oil sales at much higher margins than shale oil thereby offering a hedge against oil price volatility

Strata-X adopted a first mover acquiring 100% of 67,000 acres at less than $100 per acre while most USA petroleum companies were pursuing expensive, low margin shale oil projects

The first horizontal ‘proof of concept’ well in the Burkett Oil Field is performing beyond expectations, reaching 310 BOPD

Strata-X’s Illinois projects contain 338 million barrels OOIP net (Devonian aged prospective resources only, verified by third parties)(1)

65 shallow vertical well locations with interpreted bypassed oil zones identified – 5 initial wells planned (~$150,000 dry hole cost per well)

(1) Prospective Resources figures are from reports prepared by Chapman Petroleum Engineers Ltd (May 2014) and AWT (Strata-X prospectus 2013) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project. See Disclaimer at end of presentation.

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Near term production target of 320 to 620 BOPD net

New improved completion method, with double the lateral length and stimulation stages, is expected to achieve earlier and higher oil rates than the 310 BOPD oil flow reached in the first ‘proof of concept’ well

First development well planned using the new well completion method - an 8 mile step out location is approved

Five shallow vertical wells planned to test multiple bypassed light oil pay zones - first two wells approved – early December 2014 start

Near term program production target is 320 to 620 BOPD net to Strata-X

Assuming success - ongoing development to increase production and commence reserve certifications

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Strata-X’s share price ‘overcorrects’ while key project performs

Investors put Strata-X in the low margin shale oil basket whereas our product is high margin oil

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Jun July Aug Sep Oct Nov

BOPD@ Burkett 5-34

Install higher capacity pump

CPS

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Commercial oil flow rates reached in ‘proof of concept’ well

…while Strata-X’s share price hits an all time low

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Relative ‘visual’ comparison of various oil sales margins

OIL

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ILLI

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High margin Illinois oil offers ahedge against lower oil prices

Saudis discounting to <$80 in USA to slow low margin shale oil competitionHigh margin oil is where to be!

@$80/bbl$45-$50 margins.Includes finding and development costs. (1)

@$80/bblMuch lower margins

No new oil sands

(1) Prospective Resources Best Estimate Type Well economics figures are from reports prepared by Chapman Petroleum Engineers Ltd (April 30, 2014 and 2 October 2014) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project. (DS-1) See Disclaimer at the end of this presentation.

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Illinois Basin Oil Illinois Basin, Illinois: Shallow light oil in the heartland of the USA Illinois Basin Oil Illinois Basin, Illinois: Shallow light oil in the heartland of the USA

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A ‘lost treasure’ with high margin oil when compared to low margin shale oil In USA heartland - markets, services, pipelines, low costs Flat, easy access, mostly farm land Significant historical oil production

• Source rock – New Albany Shale – 300+ billion bbls generated(Lewan, et al., 2002)

• ~4 billion barrels historical production (ISGS accessed 2/20/14 www.isgs.Illinois.edu)

• Shallow targets, bypassed pay, giant fields, light sweet crude – 36 to 38 degree API First ‘proof of concept’ in untapped giant oil field performing beyond expectations

Map Ref: USGS

Why is Strata-X focusing on the Illinois Basin?

Map Ref: ISGS

Map of Illinois Oil Fields

Strata-X focus area

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• >1.5 billion barrels of oil produced within 32 km radius of Strata-X projects(1)

• Multiple oil zone targets between 750m and 1500m

• 100% of ~67,000 net acres

• NRI ~85%

• First mover with <$100 per acre total land costs

Strata-X Illinois project is within and surrounded by giant oil fields

(1) ISGS accessed 10/2/14 www.isgs.Illinois.edu

Burkett Oil Field (Burkett Well Location)

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Lingle Fm.

5-98 BOPD

OCM

OCM

368 MBO

4-28 BOPD

Gas

G & OCMG & OCM

236 MBO

Numerous O, G & OCM

16-70 BOPD

60-199 BOPD

Gas

10 miles

Not to scaleLarge oil accumulation in Lingle Fm>100 wells outline >1 billion OOIP, 338 MM bbls OOIP

net to Strata-X acreage• Vertical depths ~1350m• First ‘proof of concept’ reached over 300 BOPD• Expect better results from first development well

Shallower Bakken clone • Same age carbonate reservoir below prolific

source rock• Burkett has similar areal extent as Elm

Coulee (over 100 MM bbls produced)

Burkett Oil Field - 1,300 square kilometer Lingle oil accumulation

First 7 stage stimulated ‘Proof of concept’ well

reached over 300 BOPD

First development well:15 stage stimulated

horizontal well,8 mile step out

40 mile step out

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Burkett Oil Field’s proof of concept reached >300 BOPD

Oil Source Rock

>2 X the horizontal length>2 X the stimulation stagesLess energy per stage

Upper Oil Zone

Lower Oil Zone

Initial proof of concept well was a short lateral Development wells to be more than twice as long

Initial proof of concept well was a short lateral Development wells to be more than twice as long

First completion method (red) exceeded commercial rates but not optimal;Development wells (green) using new completion method expected to do much better

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Chapman Petroleum Engineers Ltd forecasted well economics for Devonian Lingle development wells (1):

Burkett Oil Field – New forecasts indicate have high margins of $45/bbl at $80 oil price

(Forecasted Values prior to latest results)

Drilling and Completion Cost (per well) USD$2,500,000Forecasted IP (BOPD) 100 BblEUR – Chapman used 10% recovery factor 160,000 BblRate of Return 122%Months to Payout 18 MonthsFinding & Development Cost per BBL US$16.04Net Present Value @ 10% (before tax) US$5,394,000

Lingle Fm.

(1) Type Well economics figures are from reports prepared by Chapman Petroleum Engineers Ltd (May 2014) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project. See disclosure at end of presentation.

(2) Internal Management Estimates given current analogue well production.

300 bbl?????

Future Development Wells(2)

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Illinois Basin Production History – mostly shallow vertical wells

Illinois Basin - Production vs. Crude $ (Bbl)

(1) ISGS accessed 2/20/14 www.isgs.Illinois.edu

80% of the oil produced from Illinois Basin was at less than $2/bbl. (1)

Most wells in the Basin were plugged before oil price increased.

Dieselfor WW2

Oil Cartel

Cars

CarsOil Glut

Illinois Basin market and technology driven booms:

1905 to 1915 - Cars1937 to 1943 - WW21954 to 1964 - Cars1980 to 1986 – Oil Cartel2015 to ?

14Scope of work subject to actual conditions encountered

Illinois vertical wells - testing multiple bypassed light oil pay zones

(1) ISGS accessed 2/20/14 www.isgs.Illinois.edu, information obtained from the ISGS 2009 Illinois Field Statistics Report

Lingle Fm.

Grand Tower

New Albany (source rock)

Mississippian

Not to scale

Mis

siss

ippi

anD

evon

ian

Over 10 zones produce light oil • More than 1.5 billion barrels in adjacent giant oil fields(1)

• Portion of Strata-X acreage located on the Giant Clay City Consolidated Oil Field >450 million barrels of oil produced to date(1)

• ~36-38 degree API, sweet crude• Shallow depths ~750m to 1100m

Multiple opportunities on Strata-X acreage• Most drilling occurred when oil price less than $2 per barrel – flow rate

thresholds needed to be much higher than required today• Many wells only produce from first oil zone and did not test deeper zones• Numerous below historic threshold/passed pay zones identified

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Illinois Old Completion Practices – Nitroglycerin fracsEarly oil reservoir enhancement

• Many early wells were drilled to first oil zone and open hole completed

• To enhance the reservoir, nitroglycerin was poured in the hole, detonated to make rubble in the open hole

First oil zone withopen hole completion

Photos: (L) American Oil and Gas Historical Society

The force of a genuine nitroglycerin well blast

Nitro fracs had poor results: • Ineffective penetration into reservoir

away from well bore• Low oil recoveries

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Areas of nitro fracs offer bypassed oil opportunity • The effects of old nitro fracs

were limited • Resulting in a large amount of

unproduced oil between wells

• Historical experience has shown that these wells can be redrilled /offset and improved production may be possible using modern stimulations

• Nitro frac wells did not test the numerous deeper prospective zones• Many of these nitro wells were on

structures and offer prospectivityfor oil entrapment

Strata-X Vertical Program – over 65 locations identified so far

Unt

este

d oi

l int

erva

lO

rigin

al z

ones

test

ed

Drilled to first good oil zone then cased and nitro fracked

Lower Zones not drilled or tested

Modern multi-stage vertical fracs can stimulate multiple zones in the same well

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Strata-X Vertical Program – Blue Spruce Area

Blue Spruce Area• Primary Target - Aux Vases Fm.

• Several wells with good IPs in area

• Several “Nitro Wells” in area• Offer low risk potential

• 9 Potential well locations• Additional 3 contingent locations

• Deeper potential in McCloskey and Salem Fm.

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Strata-X Vertical Program – Douglas Fir Area

Douglas Fir Area• Primary Target - Aux Vases Fm.

• Several wells with good IPs in area

• Several “Nitro Wells” in area• Offer low risk potential

• 12 Potential well locations• Additional 7 contingent locations

• Deeper potential offsetting 300 BOPD McCloskey well drilled in 1938

• Other production in the area• McCloskey and Salem Fm.

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Strata-X Vertical Program – Prospective Resources Type Curve

Prospective Resources Type Well (1)

• EUR ~ 50,000 bbls• Peak production rate of

~ 40 BOPD• Potential for comingled

zones to increase base levels

BO

PM

(1) Prospective Resources Type Well economics figures are from reports prepared by Chapman Petroleum Engineers Ltd (October 2, 2014) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project. This information originally appeared in a Company News Release dated 2 October 2014. (DS-1) See Disclaimer on at the end of this presentation.

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(Forecasted Values)

Drilling and Completion Cost (per well) USD$300,000Forecasted IP 30 day 40 BblEUR 50,580 BblRate of Return >1000%Months to Payout 4 MonthsFinding & Development Cost per BBL USD$6.46Net Present Value @ 10% (before tax) USD$1,968,000

Illinois Vertical Oil Projects – 65 locations, 4 month payouts, >$50/bbl margins

Chapman Petroleum Engineers Ltd forecasted well economics for Mississippian vertical wells are as follows(1):

(1) Prospective Resources Type Well economics figures are from reports prepared by Chapman Petroleum Engineers Ltd (October 2, 2014) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project. This information originally appeared in a Company News Release dated 2 October 2014. (DS-3) See Disclaimer at the end of this presentation.

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Near Term Capex/Timetable with projected outcomes

The outcomes assume vertical wells average 40 BOPD/new horizontal 300 BOPD IP and 60% success rate in low risk verticals

Amounts are in $US000Expenditure of $3.5 to $6.5 million

With Excellent Netback of $45-50/bbl

Amounts are in USD ($000) Dec‐14 Jan‐15 Feb‐15 Mar‐15 Apr‐15 May‐15 BOPD‐Low BOPD‐High

Illinois BasinDouglas Fir‐1 300 Testing 40 40Blue Spruce‐1 150 0 0Vertical 3 300 Testing 40 40Vertical 4 150 0 0Vertical 5 300 Testing 40 40Contingent Horizontal Development 2100 900 Testing 300

Rents/land 220 220 220 220 220 220Admin/Staff 160 160 160 160 160 160

Current Production 200 200Total BOPD 320 620

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100% of ~67,000 net acres @ <$100 per acre – first mover advantage

Easy flat ground with roads, services, pipelines and markets

Modern technology near term multi-well vertical and horizontal well programs target light oil zones at 750m to 1500m depths – starting early Dec 2014

Targets of 300 to 600 BOPD net to Strata-X – continuous drilling on success

250 potential horizontal location and > 65 vertical locations on Strata-X acreage

338 million barrels OOIP net to Strata-X – at 10% recovery of OOIP(1)

High margin oil @$80 per barrel ~$45 to $50 including F&D costs offer much better margins than shale oil – high margin oil is where to be in USA

First ‘proof of concept’ 7-stage stimulated horizontal well reached 310 BOPD, an outstanding result for first-ever attempt for a well using a sub-optimal completion method

First development well, an 8 mile step out using >2X lateral length and 15-stage stimulation is expected to do much better

Derisking so far demonstrates excellent economics, sustained production growth potential with very low geological and commercial risk remaining

Illinois Oil – Summary of the Opportunity

(1) Prospective Resources figures are from reports prepared by Chapman Petroleum Engineers Ltd (May 2014) and AWT (Strata-X prospectus 2013) following analysis of the available technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogous reservoirs and the proposed program for the project.

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DisclaimersIn this document the reference of “DS-#” refers to the following disclosuresDS-1 The information in this News Release that relates to Best Estimate Prospective Resources that was prepared and published by AWT International dated 18December 2012. The information was published in Strata-X Energy Ltd’s “Prospectus 2013” (available online at www.strata-x.com), as part of the Companies 2013Australia Securities Exchange Initial Public Offering. It is based on, and fairly represents, information and supporting documentation prepared by, or under thesupervision of Doug Barrenger (“JORC Competent Person”) employed by AWT International and is independent of Strata-X Energy Ltd. At the time of the Prospectus2013 issuance Doug Barrenger was an employee of AWT International and a member of the Petroleum Exploration Society of Australia (PESA) amongst otherprofessional petroleum organisations. AWT International consents to the inclusion of this information in this document. As of the issuance of this document Strata-XEnergy Ltd management is not aware of any material information that would change the results of the AWT International report as published in the Prospectus 2013.Figures shown reflect Strata-X’s economic interest (US Dollars) net of royalty or other burdens and were generated using the deterministic method. The estimatedquantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimateshave both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significantquantity of potentially moveable hydrocarbons. .

DS-2 The information in this News Release that relates to Best Estimate Prospective Resources that was prepared and published by Chapman Petroleum EngineersLtd. and dated 21 March 2014 and published on Strata-X Energy Ltd’s website in a News Release dated 24 March 2014 to meet the Company’s ongoing disclosurerequirements (available online at www.strata-x.com). It is based on, and fairly represents, information and supporting documentation prepared by, or under thesupervision of Charles Moore, employed by Chapman Petroleum Engineers Ltd. and is independent of Strata-X Energy Ltd. At the time of the Chapman PetroleumEngineers Ltd. report dated 21 March 2014, Charles Moore was an employee of Chapman Petroleum Engineers Ltd. and a registered Professional Engineer in theProvince of Alberta, Canada amongst other professional petroleum organisations. Chapman Petroleum Engineers Ltd. and Charles Moore consent to the inclusion ofthis information in this document. As of the issuance of this document, Strata-X Energy Ltd management is not aware of any material information that would change theresults of the Chapman Petroleum Engineers Ltd. report as published in the this presentation. Figures shown reflect Strata-X’s economic interest (US Dollars) net ofroyalty or other burdens and were generated using the deterministic method.

DS-3 Prospective Resources Best Estimate figures are from a report prepared by Chapman Petroleum Engineers Ltd (2 October 2014) following analysis of theavailable technical data including the geological and geophysical interpretation presented to them by Strata-X, information from relevant nearby wells or analogousreservoirs and the proposed program for the project. Netbacks to the Company shown are net of royalties and operating costs from revenues, they were calculated bytaking all of the revenues from the oil, less all costs associated with getting the oil to a market. These costs include, importing, transportation, production and refiningcosts, and royalty fees. There is no certainty that the stated resources will become commercially viable to produce any portion of the resources. The report reviewedonly prospective resources as the project is not sufficiently developed to assign contingent resources or additional categories of petroleum reserves to it.

Cautionary Statement: Undiscovered Resources, PIIP and BOEUndiscovered Hydrocarbon-In-Place (equivalent to undiscovered resources) is that quantity of petroleum that is estimated, on a given date, to be contained inaccumulations yet to be discovered. The recoverable portion of undiscovered petroleum initially in place is referred to as "prospective resources" and the remainder as"unrecoverable.” “Prospective resources” are the quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulationsby application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development.

There is no certainty that any portion of the undiscovered resources will be discovered or that, if discovered, it will be economically viable or technically feasible toproduce. There is no certainty that any PIIP will be commercially viable to produce any portion of the resources. The recoverable portion of PIIP can include production,reserves and contingent resources; the remainder is defined as unrecoverable. There is no certainty that any portion of the resources will be discovered. If discovered,there is no certainty that it will be commercially viable to produce any portion of the resources. The recoverable portion of PIIP can include production reserves andcontingent resources; the remainder is defined as unrecoverable. The terms “barrels of oil equivalent” or “boe” may be misleading, particularly if used in isolation. A boeconversion ratio of six thousands cubic feet (6 mcf) to one barrel (1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip anddoes not represent a value equivalency at the wellhead.