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“Creating Shareholder Value via Strategic Oil & Gas Targets”Corporate Presentation – July 2011

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Forward Looking Statements

Statements made by representatives of Stratex Oil & Gas, Inc. (“Stratex” or the “Company”) during the course of this presentation that are not historical facts are “forward‐looking statements” within the meaning of federal securities laws. These statements are based on certain assumptions and expectations made by the Company which reflect management’s experience, estimates and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. No assurances can be given that such assumptions and expectations will occur as anticipated and actual results may differ materially from those implied or anticipated in the forward looking statements. Such statements are subject to a number of risks and uncertainties, many of which are beyond the control of the Company, and which include risks relating to the global financial crisis, our ability to obtain additional capital needed to implement our business plan, declines in prices and demand for gas, oil and natural gas liquids, our minimal operating history, loss of key personnel, lack of business diversification, reliance on strategic, third‐party relationships, ability to obtain rights to explore and develop oil and gas reserves, financial performance and results, our indebtedness under our senior secured promissory notes, our ability to replace reserves and efficiently develop our current reserves, our ability to make acquisitions on economically acceptable terms, and other important factors. Stratex undertakes no obligation to publicly update any forward‐ looking statements, whether as a result of new information or future events

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Overview

Stratex Oil & Gas 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. Our oil and natural gas operations are primarily concentrated in two Rocky Mountain basins, the Williston Basin of North Dakota and Montana and the Green River Basin of Wyoming. Stratex’ corporate strategy is to internally identify prospects, acquire lands encompassing those prospects, and evaluate those prospects using subsurface geology and geophysical data and exploratory drilling. Using this strategy, we are developing an oil portfolio of proven reserves, as well as development and exploratory drilling opportunities on high potential conventional and non-conventional oil prospects that we have the opportunity to explore, drill, and develop.

Stratex’ core operating areas are the Williston Basin in North Dakota and Montana and the Green River Basin in Wyoming. In the Williston Basin, Stratex focuses on oil production from multiple zones including the Bakken shale, Mission Canyon and Red River formations.

Stratex uses geologists, petroleum engineers and geophysicists that have 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.

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Overview

Business Model

Stratex explores and produces oil and gas through a non-operated business model. The Company participates inBakken wells proportionately to the leasehold interest ineach drilling unit that is drilled by its operating partners. Asa non-operating participant, Stratex minimizes operatingand overhead costs. The low-cost model allows theCompany to diversify through different operators andregions

Operations

Stratex’ management team structures its operations in amanner that minimizes operating and overhead costs as aleasehold interest owner. As a non-operating participant,Stratex relies on operating partners to conduct the drillingprocess. Before drilling begins, the operator must give allinterest owners in the well unit the opportunity to join thedrilling costs and revenues on a pro-rata basis. The ownerreceives a pro-rata share of production corresponding totheir pro-rata share of costs. The majority partners bearoperating and overhead costs, which allows Stratex to investthe highest possible working interest while minimizing costs.

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Drilling and Acreage Plans

The Company’s focus is acquiring leasehold interests in the Bakken Formation, NiobraraFormation, and Three Forks-Sanish Formation.

The Bakken Formation

The Bakken Formation is an oil bearing strata underlying parts of the Williston Basin of Montana and North Dakota. The Bakken is located between 8,000 and 11,000 feet and is comprised of three members: the lower shale, middle dolomite, and upper shale. The middle member holds the majority to the oil reserves. Oil production in this region dates back to the 1950’s, but was largely unsuccessful. The vertical wells drilled around this time couldn’t produce oil at high rates. The vertical wells only had about 50 to 100 feet of the shaft that reached the middle Bakken. The application of horizontal wells with fracturing technology has allowed production to dramatically increase.

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Drilling and Acreage Plans

Bakken Oil Estimates

A 2008 USGS report has estimated the amount of recoverable oil at 3.0 to 4.3 billion barrels in the Bakken, which makes it the largest current USGS oil assessment of the lower 48 states as well as the largest continuous oil accumulation ever assessed by the USGS. Recently, estimates have been revised upward to about 11 billion barrels of oil in both the Bakken and underlying Three Forks-Sanish formation by the state of North Dakota.

Niobrara Formation is a shale rock underlying parts of Colorado and Wyoming. Oil and natural gas can be found at depths from 3,000 to 14,000 feet. The Niobrara is a new oil formation that is part of the Denver-Julesburg basin. It is an early oil formation that is being compared to the Bakken Shale

The Three Forks-Sanish Formation is an oil area below the Bakken Shale zone. Three Forks is an early play, and the wells so far have been strong producers.

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Drilling

Hydraulic Fracturing is a technique that can increase the flow of oil or gas from a well. The procedure is done by pumping high quantities of liquid down a well into the reservoir rock at a high pressure to fracture the rock. The technique creates a network of interconnected fractures that allow more oil to flow through the rock.

Horizontal Drilling is useful in reaching targets and stimulating reservoirs in ways that can not be achieved with vertical wells. A rock unit that is only 50 feet thick is limited to a pay zone that is 50 feet in length with a vertical well. A well drilled horizontally can expand the limited pay zone thousands of feet. Also, horizontal drills can deliberately intersect fractures. The productivity of these wells can be increased tremendously with the use of horizontal drills.

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Horizontal Drilling and Fracturing

The introduction of new technology has led to rapid

growth in the daily oil production in the Bakken in

recent years.

The application of both horizontal drilling along with fracturing has increased the

productivity of wells and made the wells much more

efficient. e application of both horizontal drilling

along with fracturing has increased the productivity

of wells and made the wells much more efficient.

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Recent News and Activity

Recent News

• January 2011: Continental Resources Inc. told North Dakota bankers that their geologists have estimated about 20 billion barrels of recoverable crude oil in the Bakken

• January 2011: Government officials revised their estimates and said that the North Dakota fields could hold 11 billion barrels of oil, doubling their previous estimate

• Marathon Oil announced plans of their first horizontal Bakken/Three Forks activity in Sheridan County, Montana

Recent Oil Activity

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Assets and Acreage Holdings

STRATEX CONTROLS 25,000 ACRES IN THE WILLISTON BASIN / BAKKEN

• 22,000 Acres in Golden Valley, ND

• Whiting Petroleum and Petro Hunt is very active in this Area.

• 2,950 acres located in Sheridan County, MT 37N 57E & 35N 58E

• TAQA North (TAQA), which is owned by the government of Abu Dhabi, also has an active Bakken program in 37n 57e

• TAQA has four wells in 37n-57e with daily production of 450 and 650 barrels of oil, respectively

• TAQA is drilling in adjacent quadrant

• Operating well in Roosevelt County, MT

• Producing 30 Barrels per day with one Bakken drilling unit of 320 Acres

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TAQA Wells

Stratex Land Positions

37N 56E, 37N 57E, 36N 58E

• 4 active Bakken TAQA wells

• Completed in 2nd

half of 2010• 187,500

cumulative barrels of oil through Feb 2011 STRATEX land

positions

TAQA Bakken Wells

Stratex Land Positions

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Stratex land positions & TAQA wells< 3 miles apart

STRATEX land positions

TAQA Bakken Wells

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TAQA Well Production

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Upcoming TAQA Bakken Wells

PERMIT_NO CURR_OPER_NAME LEASE_NAMEWELL_NO SPUD_DATE LOCATION SECTION RESERVOIR COMP_DATE DATE_RELS

29233MT TAQA NORTH USA INC KROWEN 14-4 H 5/6/201137N 57E 14 BAKKEN29187MT TAQA NORTH USA INC BOLKE 18-4 H 3/24/201137N 57E 18 BAKKEN 4/30/201129186MT TAQA NORTH USA INC STATE 16-4 H 37N 57E 16 BAKKEN28956MT TAQA NORTH USA INC HELLEGAARD 8-8 H 12/12/201037N 57E 8 BAKKEN 1/6/201128950MT TAQA NORTH USA INC KROWEN 23-12 H 1/9/201137N 57E 23 BAKKEN 2/8/201128951MT TAQA NORTH USA INC WESTGAARD 5-5 H 2/9/201137N 58E 5 BAKKEN 3/21/201128583MT TAQA NORTH USA INC HELLEGAARD 9-13 H 8/6/201037N 57E 9 BAKKEN 9/14/201028430MT TAQA NORTH USA INC HELLEGAARD 10-16 H 5/14/201037N 57E 10 BAKKEN 9/22/2010 6/24/201028179MT TAQA NORTH USA INC HELLEGAARD 9-12 H 1/23/201037N 57E 9 BAKKEN 7/19/2010 2/26/201028166MT TAQA NORTH USA INC HELLEGAARD 9 H 12/11/200937N 57E 15 BAKKEN 8/2/2010 1/20/2010

Up Coming Bakken Wells in area

Present Bakken Wells

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Upcoming Assets and Acreage

Stratex plans to add additional 38,000 Acres with active production

• 20,000 acres in Sheridan County

• Acreage has 5 producing wells, providing Stratex with 70 barrels of production per day

• Production is in the Nisku Formation, and Stratex has plans to participate in Bakken drilling in calendar year 2011

• 17,822 Acres in Dunn County, ND

• Option to purchase a 40% working interest in 17,822 acres in the Fort Berthold Reservation in Dunn County ND with 3 existing Bakken wells

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Investment Considerations

Stratex’ participation in drilling wells as a leasehold interest owner allows the Company to deliver a high value to shareholders at a low cost

Government officials have recently changed their estimates to about 11 billion barrels of recoverable oil in the Bakken

The Bakken source rock has a high Total Organic Carbon (TOC) of up to 11%; most source rock has at least 0.5% and very rich source rock has up to 10%, according to Schlumberger

Stratex’ business model allows for diversification through different operators and geographic areas

Stratex minimizes operating and overhead costs by relying on majority partners to propose, permit, and engage in the drilling process

With adequate capital Stratex can achieve the acquisition in excess of 100,000 acres in the “Fairway” of the Bakken Field before July 2011

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Comparable Companies

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COMPANY NAME STOCK SYMBOL ANNUAL REVENUES ACREAGE MKT CAP VALUATION PER ACRE

Samson Oil & Gas LTD SSN $7MM 16,083 $237MM $14,736

Earthstone Energy, Inc. ESTE $7.5MM 17,760 $23MM $1,295

Legend Oil & Gas LOGL $0.00 3,840 $127MM $33,072

American Standard Energy ASEN $2MM 17,000 $298MM $17,529

Triangle Petroleum TPLM $0.00 32,600 $65MM $1,993

Stratex Oil & Gas, Inc. TBD $2.1MM 47,000 $14.5MM* $308

*Using $80 per Barrel

of oil

**Valuation post

.25Raise (58M Shares

Outstanding)


Management Team

Steve Funk, Chairman & CEO, Director

•Stephen P. Funk brings over 25 years of experience in finance to Stratex. Mr. Funk is the founder of Alta Investments LLC, a specialized investment banking consultant Mr. Funk has consulted on numerous mergers, acquisitions and strategic alliances. Mr. Funk raised over $90mm of equity in a portfolio of small-cap high growth companies. Prior to Alta, Mr. Funk was a Vice President at Windham Associates. Mr. Funk identified possible companies to be acquired by the NYSE and closed 26 acquisitions. Before joining Windham, Mr. Funk worked at Merrill Lynch as a Vice President in Business Financial Services. At Merrill Lynch, Mr. Funk completed over 20 mergers and acquisitions and built a $160mm investment portfolio along with a $100mm commercial loan portfolio. Mr. Funk graduated from Marist College in1984 with a B.S. in Business Administration, Finance.

Tim Kelly, President & COO, Director

•Tim Kelly brings over 20 years experience in the securities industry. Mr. Kelly founded Lynden Capital Management, a equity and venture management company, in 2002. While at Lynden Capital, Mr. Kelly invested in dozens of public and private companies. Mr. Kelly also advised on strategic acquisitions as well as debt and equity financings. Prior to Lynden, Mr. Kelly worked at Credit Suisse as a Senior Vice President in equity sales. Before joining Credit Suisse, Mr. Kelly worked at Hambrecht & Quist, which then merged with JP Morgan Chase in equity sales Mr. Kelly began his career at New England Securities in equity sales. Tim Kelly graduated from Providence College in 1990 with a B.S. in Business Administration, Marketing.

Tom Hayes, Director of Land Acquisitions, Director

•Thomas M. Hayes, the former president of the Montana Association of Professional Landmen, began working in the oil business in 1978 in Montana for Silver Dollar Exploration as a landman. Mr. Hayes examined Mineral Ownership Reports, which is the first step in acquiring an Oil and Gas Lease on a particular tract of land. Mr. Hayes went on to work for several oil and gas companies, leasing and running title throughout Kansas, Montana and North Dakota, including the Williston Basin. In 2004, Mr. Hayes started L&H Resources along with Director, Neil LaFever, which leased parcels of land in Sheridan County and Richland County, Montana. In 2007, L&H Resources acquired an idle well and turned it into a producing well that is operating today. Mr. Hayes brings knowledge of horizontal drilling programs and of the most profitable areas in the Bakken Formation. Currently, Mr. Hayes is in the process of drilling a Bakken Well in Sheridan County, Montana. Thomas M. Hayes graduated from the University of Montana.

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Management Team

Neil LaFever, Director

• Neal LaFever brings over 25 years of experience in various phases of the oil industry. In 1985, Mr. LaFever began investing in gas wells in the Ratcliff Formation, underlying Montana. Mr. LaFever went on to drill several more wells in the Ratcliff Formation. In 2002, Mr. LaFever went on to drill a successful well that still operates today in the Tyler Formation in Mussellshell County, Montana. Mr. LaFever L&H Resources, LLP with Director of Land Acquisitions, Thomas M. Hayes, which leased parcels of land in Sheridan County and Richland County, Montana. In 2007, L&H Resources acquired an idle well and turned it into a producing well that is operating today. Currently, Mr. LaFever is involved in two wells in North Dakota and in the process of drilling a well in Sheridan County, Montana. Mr. LaFever graduated from the University of Wisconsin, Oshkosh in 1967 with a Bachelor’s degree in history and physical geography.

Michael Mahan, Director

• Michael J. Mahan brings over 20 years of experience in the environmental field. Mr. Mahan’s is particularly experienced in water treatment, hydrogeology, soil analysis, drilling methods, and hydrofacturing techniques. Mr. Mahan has written and implemented sampling plans, approved by the Environmental Protection Agency, which verify groundwater and soil conditions at various sites. Mr. Mahan has served as project manager for a large remediation project in Washington, DC, involving tank and soil removals, ground water and soil treatment, soil disposal, and litigation. As project manager of an environmental evaluation and cleanup program in the United Kingdom, Mr. Mahan was involved with investigating and remediating the Sherwood Sandstone Aquifer, whish is one of England’s largest fresh drinking water supplies. Michael J. Mahan holds a B.S. in Hydrogeology and Soil Science from Ohio University

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Timeline

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July 2011

•Close 2.5M financing

•Complete Acquisitions

•2200 acres (near Taqa area)

•Well producing 30 to 40 barrels per day (in contract)

•22,000 acres in Golden Valley County, ND (in contract)

•Begin Amex Listing Process

August 2011

•Continue lease acquisitions activity with focus on Bakke and Niobrara

•Focus on Raising Funds for Large Acquisition in Dunn County North Dakota

•Build technical and executive team

September 2011

•IPO Financing in conjunction with AMEX Listing

•30 to 40 Million Equity/Debt Raise

October/November 2011

•Amex Listing


Contact

Corporate Office888 Seventh Avenue , 12th floor

New York, NY 10106212.671.0397

[email protected]

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Field Office2906 First Ave. North

Billings, MT 59104406-252-2129

www.stratexoil.com

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