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Strata-X Energy Ltd. has reported a status update on its Sleeping Giant Gas Project, which is targeting the Niobrara formation.
Drilling on the Sleeping Giant Natural Gas Project is projected to begin in the third quarter of the year. The targets for this project lie at a very shallow depth of approximately 1,500 feet. Strata-X plans to drill up to four wells on the Sleeping Giant project this year.
The Company has mapped over 20 leads and prospects in the target area and owns the rights to approximately 155,000 acres.
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