Strike Energy Eagle Ford Development Advancing

Strike Energy is continuing on from a recent acreage deal in the South Texas Eagle Ford and is now raising capital to fund development. The company’s recent deal included acreage in Fayette County, TX. While $17 million won’t get you far in the Eagle Ford, it is enough to drill a couple of pilot wells to better understand your acreage.

“The company will raise $7.4 million through a placement at 15 cents a share with private equity investor M H Carnegie & Co taking 50 per cent of the shares on offer and lead manager Blackswan Equities placing the balance of shares with clients.””Strike said the funds raised would be used to advance its Eagle Ford Shale project in Texas and the Wilcox formation slope play in Louisiana and provide additional working capital.”

“Strike’s managing director Simon Ashton said he believed that some of the company’s new assets had the potential to be ‘game-changing’ energy assets.”

Read the full news release at

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.