U.S. focussed oil play Strata-X Energy (ASX:SXA) currently produces around 75 bopd, and has reserves of 1.37 mmbbl (2P) and resources 113 mmbbl prospective.
The company is planning a 4,500 ft vertical well in August 2015, and a 4,000 ft lateral horizontal in the first quarter 2016.
The ASX has this morning granted the company a trading halt, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Thursday 30th July 2015, or earlier if an announcement is made to the market.
