SOURCE: Stratex Oil & Gas Holdings, Inc.

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October 02, 2013 07:37 ET

Stratex Oil & Gas Recently Elected to Participate in an Additional Horizontal Well in Colorado With Kerr-McGee, a Division of Anadarko (NYSE)

Stratex Will Participate in This Well With a Working Interest as Well as on an Overriding Royalty Basis

WATERTOWN, CT--(Marketwired - October 02, 2013) - Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) ("Stratex"), today announced that it has elected to participate in an additional horizontal well in Colorado with Kerr-McGee, a division of Anadarko (NYSE). Stratex will participate in this well with a working interest as well as on an overriding royalty basis. It is the Howard Federal 40N-22HZ horizontal well targeting the Niobrara formations in Weld County, Colorado.

Stephen Funk, the Chairman and CEO of Stratex Oil & Gas, said, "I am pleased to participate in another well with a leading operator in the Niobrara formation."

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About Stratex Oil & Gas Holdings, Inc.

Stratex is an independent energy company focused on the exploration, acquisition, and production of crude oil in the Bakken and Three Forks formations in North Dakota and Montana. Its oil and natural gas operations are primarily concentrated in two Rocky Mountain basins, the Williston Basin of North Dakota and Montana. Stratex's corporate strategy is to internally identify prospects, acquire lands encompassing those prospects, and evaluate those prospects using subsurface geology and geophysical data. Using this strategy, Stratex has developed an oil portfolio of proven reserves, as well as development opportunities on high potential oil prospects.

Stratex's core operating areas are the Williston Basin in North Dakota and Montana, and the Denver-Julesburg Basin in Colorado. In the Williston Basin, Stratex focuses on oil production from multiple zones including the Bakken Shale and Three Forks Sanish Formations. In the Denver-Julesberg Basin Stratex focuses on the Niobrara and Codell Formations.

Stratex engages geologists, petroleum engineers, and geophysicists with years of relevant industry experience in the basins where the Company operates. Stratex strives to retain operations on its lands wherever possible in order to control the timing of the development of its leasehold. For more information visit: http://www.stratexoil.com

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward- looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Stratex Oil & Gas to attract customers for its services, and to continue developing its oil & gas assets. Further information on Stratex's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 8-K filed in connection with the Merger. Stratex Oil & Gas does not undertake any duty nor does it intend to update the results of these forward-looking statements.

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