Striker Oil & Gas Reiterates Its Reserves of More Than $20,000,000 as of December 2007

Business Wire, June 17, 2008

HOUSTON -- Striker Oil & Gas, Inc. (OTCBB:SOIS) announced today that its reserves were more than $20 million on December 31, 2007 and its future revenues are in excess of $45 million. This amounts to approximately $1.00 per share in reserves and $2.00 per share in future revenues based upon approximately 20 million shares outstanding. The table below shows the actual numbers as filed with the Securities and Exchange Commission on its December 31, 2007 annual report.

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These figures do not take into account the recent wells that have been drilled and the increase in the price of oil & gas since December 31, 2007. In addition, Striker has scheduled numerous wells that are to be drilled in the 3rd fiscal quarter and if successful will also add substantially to its reserve base and future revenues.

"These year-end amounts do not reflect the tremendous upside that we believe is possible through a successful drilling program on our development prospects," said Kevan Casey, Chief Executive Officer of Striker, "Striker is committed to exploiting its existing properties as well as seeking new potential prospects to add to its growing portfolio of properties."

About Striker Oil & Gas

Striker Oil & Gas, Inc. is an upstream U.S. oil and gas company headquartered in Houston, Texas and traded on the Over-the-Counter Bulletin Board (SOIS.OB). The company is engaged in the search for and sale of oil and gas reserves through both exploratory drilling and the acquisition of producing properties. Striker's objective is to cost efficiently develop these properties and market the oil and gas production at the wellhead. Striker is strategically focused along the Texas Gulf Coast, East Texas and South Louisiana in areas of developed infrastructure and established markets. For information please visit www.strikeroil.com.

Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements, including the company's ability to successfully acquire oil and gas properties and drill commercial wells. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Striker's future business and financial results, refer to our Quarterly Reports on Form 10-QSB, our Annual Report on Form 10-KSB and the other filings we make with the Securities and Exchange Commission. Striker undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.