---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-Q

(Mark One)
  [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 
For the quarterly period ended November 30, 2009

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
  SECURITIES EXCHANGE ACT OF 1934 
  For the transition period from _______to _______

Commission File Number: 000-52218

STRIKER ENERGY CORP.(Exact
name of registrant as specified in its charter)

|Nevada                          | 20-2590810         
|------------------------------- | -------------------
|(State or other jurisdiction of | (I.R.S. Employer   
|incorporation or organization)  | Identification No.)

901 – 360 Bay Street, Toronto, ON, Canada M5H 2V6
(Address of principal executive offices) (Zip Code)

(416) 489-0093(Registrants telephone number,
including area code)

N/A(Former name, former address and former
fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. 
Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files).

Yes [ ] No [ ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer and smaller reporting company in Rule 12b-2 of the
Exchange Act.

|Large accelerated filer [ ] |                                               | Accelerated filer [ ]        
|--------------------------- | --------------------------------------------- | -----------------------------
|Non-accelerated filer [ ]   | (Do not check if a smaller reporting company) | Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). 
Yes [X] No [ ]

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APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13 or 15(d) of the
Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court. Yes [ ] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable date:
20,506,000 shares of common stock are issued and outstanding as of January
14, 2010.

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TABLE OF CONTENTS

|PART I     | FINANCIAL
      INFORMATION                                                                 | 1 
|---------- | ------------------------------------------------------------------------------------------- | --
|ITEM 1.    | FINANCIAL STATEMENTS                                                                        | 1 
|ITEM 2.    | MANAGEMENTS
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 19
|ITEM 3.    | QUANTITATIVE AND QUALITATIVE
      DISCLOSURES ABOUT MARKET RISK                            | 23
|ITEM 4T.   | CONTROLS AND PROCEDURES                                                                     | 24
|PART II    | OTHER INFORMATION                                                                           | 24
|ITEM 1.    | LEGAL
      PROCEEDINGS                                                                     | 24
|ITEM 1A.   | RISK FACTORS                                                                                | 24
|ITEM 2.    | UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                           | 30
|ITEM 3.    | DEFAULTS UPON SENIOR
      SECURITIES                                                       | 30
|ITEM 4.    | SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS                                   | 30
|ITEM 5.    | OTHER INFORMATION                                                                           | 30
|ITEM 6.    | EXHIBITS                                                                                    | 30
|SIGNATURES |                                                                                             | 31

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1

PART I  FINANCIAL INFORMATION

|ITEM 1. | FINANCIAL STATEMENTS
|------- | --------------------







Striker Energy Corp.(An Exploration Stage Company)

Financial Statements(Expressed in U.S. Dollars)(Unaudited)30 November 2009

---

2

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Balance Sheets                
|(Expressed in U.S. Dollars)   
|(Unaudited)                   

|                                                                     |  |             |   |  | As at       |  
|-------------------------------------------------------------------- |  | ----------- | - |  | ----------- | -
|                                                                     |  | As at       |   |  | 28 February |  
|                                                                     |  | 30 November |   |  | 2009        |  
|                                                                     |  | 2009        |   |  | (Audited)   |  
|                                                                     |  | **$**       |   |  | **$**       |  
|                                                                     |  |             |   |  |             |  
|Assets                                                               |  |             |   |  |             |  
|                                                                     |  |             |   |  |             |  
|Current                                                              |  |             |   |  |             |  
|Cash and cash equivalents                                            |  | 15,805      |   |  | 2,448       |  
|                                                                     |  |             |   |  |             |  
|Liabilities                                                          |  |             |   |  |             |  
|                                                                     |  |             |   |  |             |  
|Current                                                              |  |             |   |  |             |  
|Accounts payable and accrued liabilities
      (Note 4)              |  | 2,202       |   |  | 8,035       |  
|Due to related party (Note 6)                                        |  | -           |   |  | 1,128       |  
|                                                                     |  |             |   |  |             |  
|                                                                     |  | 2,202       |   |  | 9,163       |  
|                                                                     |  |             |   |  |             |  
|Promissory note(Note 5)                                              |  | 51,152      |   |  | -           |  
|                                                                     |  |             |   |  |             |  
|                                                                     |  | 53,354      |   |  | 9,163       |  
|                                                                     |  |             |   |  |             |  
|Stockholders deficiency                                             |  |             |   |  |             |  
|Capital stock(Note 8)                                                |  |             |   |  |             |  
|Authorized                                                           |  |             |   |  |             |  
|150,000,000 common
      shares, par value $0.0001                   |  |             |   |  |             |  
|Issued and outstanding                                               |  |             |   |  |             |  
|30 November 2009 
      20,506,000 common shares, par value $0.0001 |  |             |   |  |             |  
|28 February 2009  20,506,000 common
      shares, par value $0.0001 |  | 2,056       |   |  | 2,056       |  
|Additional paid-in capital                                           |  | 193,524     |   |  | 182,724     |  
|Deficit, accumulated during the exploration stage                    |  | (233,129    | ) |  | (191,495    | )
|                                                                     |  |             |   |  |             |  
|                                                                     |  | (37,549     | ) |  | (6,715      | )
|                                                                     |  |             |   |  |             |  
|                                                                     |  | 15,805      |   |  | 2,448       |  

Nature and Continuance of Operations (Note 1) and
Subsequent Events (Note 11)

|On behalf of the Board: |         
|----------------------- | --------
|                        |         
|Joseph
      Carusone | Director
|Joseph Carusone         |         

The accompanying notes are an integral part of these financial
statements.

---

3

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Statements of Operations      
|(Expressed in U.S. Dollars)   
|(Unaudited)                   

|                                                                        | For the      |   |              |   |              |   |              |   |              |  
|----------------------------------------------------------------------- | ------------ | - | ------------ | - | ------------ | - | ------------ | - | ------------ | -
|                                                                        | period from  |   |              |   |              |   |              |   |              |  
|                                                                        | the date of  |   |              |   |              |   |              |   |              |  
|                                                                        | inception on |   | For the      |   | For the      |   | For the      |   | For the      |  
|                                                                        | 18 March     |   | three month  |   | three month  |   | nine month   |   | nine month   |  
|                                                                        | 2005 to 30   |   | period ended |   | period ended |   | period ended |   | period ended |  
|                                                                        | November     |   | 30 November  |   | 30 November  |   | 30 November  |   | 30 November  |  
|                                                                        | 2009         |   | 2009         |   | 2008         |   | 2009         |   | 2008         |  
|                                                                        | **$**        |   | **$**        |   | **$**        |   | **$**        |   | **$**        |  
|                                                                        |              |   |              |   |              |   |              |   |              |  
|                                                                        |              |   |              |   |              |   |              |   |              |  
|Expenses                                                                |              |   |              |   |              |   |              |   |              |  
|Bank charges and interest                                               | 1,267        |   | 62           |   | 126          |   | 234          |   | 160          |  
|Consulting fees                                                         | 10,176       |   | -            |   | -            |   | -            |   | -            |  
|Filing fees                                                             | 8,770        |   | 525          |   | 1,668        |   | 1,916        |   | 2,668        |  
|Interest expense (Note 5)                                               | 1,152        |   | 625          |   | -            |   | 1,152        |   | -            |  
|Investor relations                                                      | 730          |   | -            |   | 730          |   | -            |   | 730          |  
|Legal and accounting fees                                               | 116,572      |   | 7,106        |   | 11,890       |   | 24,934       |   | 21,423       |  
|Licenses and permits                                                    | 8,068        |   | -            |   | 638          |   | -            |   | 763          |  
|Management fees (Notes 7, 8 and 10)                                     | 42,000       |   | 3,000        |   | 3,000        |   | 9,000        |   | 9,000        |  
|Mineral property expenditures                                           | 15,124       |   | -            |   | -            |   | -            |   | -            |  
|Office expenses                                                         | 620          |   | 5            |   | 294          |   | 48           |   | 439          |  
|Recovery from mineral property acquisition costs (Notes 3
      and 10) | (5,000       | ) | -            |   | -            |   | -            |   | (5,000       | )
|Rent (Notes 7, 8 and 10)                                                | 9,600        |   | 600          |   | 600          |   | 1,800        |   | 1,800        |  
|Transfer agent fees                                                     | 12,211       |   | 825          |   | 1,368        |   | 2,550        |   | 2,955        |  
|Web site development                                                    | 1,839        |   | -            |   | -            |   | -            |   | -            |  
|Write down of mineral property acquisition costs (Note 3)               | 10,000       |   | -            |   | -            |   | -            |   | -            |  
|                                                                        |              |   |              |   |              |   |              |   |              |  
|Net loss for the period                                                 | (233,129     | ) | (12,748      | ) | (20,314      | ) | (41,634      | ) | (34,938      | )
|                                                                        |              |   |              |   |              |   |              |   |              |  
|Basic and diluted loss per                                              |              |   |              |   |              |   |              |   |              |  
|common share                                                            |              |   | (0.001       | ) | (0.001       | ) | (0.002       | ) | (0.002       | )
|                                                                        |              |   |              |   |              |   |              |   |              |  
|Weighted average number of
      common shares                          |              |   |              |   |              |   |              |   |             
|used in per share calculations                                          |              |   | 20,506,000   |   | 20,140,409   |   | 20,506,000   |   | 20,051,126   |  

The accompanying notes are an integral part of these financial
statements.

---

4

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Statements of Cash Flows      
|(Expressed in U.S. Dollars)   
|(Unaudited)                   

|                                                  | For the      |   |               |   |               |   |              |   |              |  
|------------------------------------------------- | ------------ | - | ------------- | - | ------------- | - | ------------ | - | ------------ | -
|                                                  | period from  |   |               |   |               |   |              |   |              |  
|                                                  | the date of  |   |               |   |               |   |              |   |              |  
|                                                  | inception on |   | For the three |   | For the three |   | For the nine |   | For the nine |  
|                                                  | 18 March     |   | month         |   | month         |   | month        |   | month        |  
|                                                  | 2005 to 30   |   | period ended  |   | period ended  |   | period ended |   | period ended |  
|                                                  | November     |   | 30 November   |   | 30 November   |   | 30 November  |   | 30 November  |  
|                                                  | 2009         |   | 2009          |   | 2008          |   | 2009         |   | 2008         |  
|                                                  | **$**        |   | **$**         |   | **$**         |   | **$**        |   | **$**        |  
|Cash flows used in operating activities           |              |   |               |   |               |   |              |   |              |  
|Net loss for the period                           | (233,129     | ) | (12,748       | ) | (20,314       | ) | (41,634      | ) | (34,938      | )
|Adjustments to reconcile loss to net
      cash   |              |   |               |   |               |   |              |   |              |  
|used by operating
      activities                |              |   |               |   |               |   |              |   |              |  
|Contributions to capital by related
      party  |              |   |               |   |               |   |              |   |              |  
|expenses (Notes 7, 8
      and 10)                | 51,600       |   | 3,600         |   | 3,600         |   | 10,800       |   | 10,800       |  
|Contributions to capital by related
      party  |              |   |               |   |               |   |              |   |              |  
|forgiveness of debt
      (Note 10)               | 38,950       |   | -             |   | -             |   | -            |   | -            |  
|Common shares issued for services
      (Notes    |              |   |               |   |               |   |              |   |              |  
|8 and 10)                                         | 30           |   | -             |   | -             |   | -            |   | -            |  
|Interest payable                                  | 1,152        |   | 625           |   | -             |   | 1,152        |   | -            |  
|Recovery from mineral
      property              |              |   |               |   |               |   |              |   |              |  
|acquisition cost (Notes 3 and 10)                 | (5,000       | ) | -             |   | -             |   | -            |   | (5,000       | )
|Write down of mineral
      property              |              |   |               |   |               |   |              |   |              |  
|acquisition costs (Note 3)                        | 10,000       |   | -             |   | -             |   | -            |   | -            |  
|Changes in operating assets and liabilities       |              |   |               |   |               |   |              |   |              |  
|Increase (decrease) in accounts payable and       |              |   |               |   |               |   |              |   |              |  
|accrued liabilities                               | 7,202        |   | (527          | ) | (20,245       | ) | (5,833       | ) | (12,974      | )
|                                                  |              |   |               |   |               |   |              |   |              |  
|                                                  | (129,195     | ) | (9,050        | ) | (36,959       | ) | (35,515      | ) | (42,112      | )
|Cash flows from financing activities              |              |   |               |   |               |   |              |   |              |  
|Increase (decrease) in due to related party       |              |   |               |   |               |   |              |   |              |  
|(Notes 7 and 8)                                   | -            |   | -             |   | 1,031         |   | (1,128       | ) | 6,154        |  
|Promissory note (Note 5)                          | 50,000       |   | -             |   | -             |   | 50,000       |   | -            |  
|Common shares returned to treasury (Notes         |              |   |               |   |               |   |              |   |              |  
|8 and 10)                                         | (5,000       | ) | -             |   | -             |   | -            |   | -            |  
|Common shares issued for cash (Note 8)            | 110,000      |   | -             |   | 50,000        |   | -            |   | 50,000       |  
|                                                  |              |   |               |   |               |   |              |   |              |  
|                                                  | 155,000      |   | -             |   | 51,031        |   | 48,872       |   | 56,154       |  
|Cash flows used in investing
      activities     |              |   |               |   |               |   |              |   |              |  
|Acquisition of mineral property interest          |              |   |               |   |               |   |              |   |              |  
|(Note 3)                                          | (10,000      | ) | -             |   | -             |   | -            |   | -            |  
|                                                  |              |   |               |   |               |   |              |   |              |  
|Increase (decrease) in cash and cash              |              |   |               |   |               |   |              |   |              |  
|equivalents                                       | 15,805       |   | (9,050        | ) | 14,072        |   | 13,357       |   | 14,042       |  
|                                                  |              |   |               |   |               |   |              |   |              |  
|Cash and cash equivalents, beginning of           |              |   |               |   |               |   |              |   |              |  
|period                                            | -            |   | 24,855        |   | 222           |   | 2,448        |   | 252          |  
|                                                  |              |   |               |   |               |   |              |   |              |  
|Cash and cash equivalents, end of
      period    | 15,805       |   | 15,805        |   | 14,294        |   | 15,805       |   | 14,294       |  

The accompanying notes are an integral part of
these financial statements.



---



5

|Striker Energy Corp.                             
|-------------------------------------------------
|(An Exploration Stage Company)                   
|Statements of Changes in Stockholders Deficiency
|(Expressed in U.S. Dollars)                      
|(Unaudited)                                      

|                                              |               |  |         |  |            |  | Deficit,    |  |               | 
|--------------------------------------------- | ------------- |  | ------- |  | ---------- |  | ----------- |  | ------------- | 
|                                              |               |  |         |  |            |  | accumulated |  |               | 
|                                              |               |  |         |  | Additional |  | during the  |  | Total         | 
|                                              | Number of     |  | Capital |  | paid-in    |  | exploration |  | stockholders | 
|                                              | shares issued |  | stock   |  | capital    |  | stage       |  | deficiency    | 
|                                              |               |  | $       |  | $          |  | $           |  | $             | 
|Balance at 18 March 2005 (inception)          |               |  |         |  |            |  |             |  |               | 
|Restricted common shares issued for           |               |  |         |  |            |  |             |  |               | 
|cash ($0.0005 per
      share)  September    |               |  |         |  |            |  |             |  |               | 
|2005 (Note 8)                                 | 10,000,000    |  | 1,000   |  | 4,000      |  | -           |  | 5,000         | 
|Contributions to
      capital by related     |               |  |         |  |            |  |             |  |               | 
|parties  expenses (Notes 7, 8 and 10)        | -             |  | -       |  | 600        |  | -           |  | 600           | 
|Net loss for the period                       | -             |  | -       |  | -          |  | (21,237)    |  | (21,237)      | 
|                                              |               |  |         |  |            |  |             |  |               | 
|Balance at 28 February 2006                   | 10,000,000    |  | 1,000   |  | 4,600      |  | (21,237)    |  | (15,637)      | 
|Common shares issued for cash ($0.005         |               |  |         |  |            |  |             |  |               | 
|per share)  May 2006
      (Note 8)          | 10,000,000    |  | 1,000   |  | 49,000     |  | -           |  | 50,000        | 
|Common shares issued for services             |               |  |         |  |            |  |             |  |               | 
|($0.005 per share) 
      August 2006 and    |               |  |         |  |            |  |             |  |               | 
|February 2007 (Note 8)                        | 6,000         |  | 6       |  | 24         |  | -           |  | 30            | 
|Contributions to
      capital by related     |               |  |         |  |            |  |             |  |               | 
|parties  expenses (Notes 7, 8 and 10)        | -             |  | -       |  | 11,400     |  | -           |  | 11,400        | 
|Net loss for the year                         | -             |  | -       |  | -          |  | (50,890)    |  | (50,890)      | 
|                                              |               |  |         |  |            |  |             |  |               | 
|Balance at 28 February 2007                   | 20,006,000    |  | 2,006   |  | 65,024     |  | (72,127)    |  | (5,097)       | 
|Contributions to capital by related           |               |  |         |  |            |  |             |  |               | 
|parties  expenses
      (Notes 7, 8 and 10)  | -             |  | -       |  | 14,400     |  | -           |  | 14,400        | 
|Common shares returned to treasury and        |               |  |         |  |            |  |             |  |               | 
|cancelled for cash
      ($0.005 per share)  |               |  |         |  |            |  |             |  |               | 
|April 2007 (Note 8)                           | (1,000,000)   |  | (100)   |  | (4,900)    |  | -           |  | (5,000)       | 
|Common shares issued
      for cash ($0.01    |               |  |         |  |            |  |             |  |               | 
|per share)  May 2007 (Note 8)                | 1,000,000     |  | 100     |  | 4,900      |  | -           |  | 5,000         | 
|Net loss for the year                         | -             |  | -       |  | -          |  | (65,411)    |  | (65,411)      | 
|                                              |               |  |         |  |            |  |             |  |               | 
|Balance at 29 February 2008                   | 20,006,000    |  | 2,006   |  | 79,424     |  | (137,538)   |  | (56,108)      | 
|Contributions to capital by related           |               |  |         |  |            |  |             |  |               | 
|parties  expenses
      (Notes 7, 8 and 10)  | -             |  | -       |  | 14,400     |  | -           |  | 14,400        | 
|Contributions to capital by related           |               |  |         |  |            |  |             |  |               | 
|parties  loan
      forgiveness (Note 10)    | -             |  | -       |  | 38,950     |  | -           |  | 38,950        | 
|Common shares issued for cash ($0.10          |               |  |         |  |            |  |             |  |               | 
|per share)  November
      2008 (Note 8)     | 500,000       |  | 50      |  | 49,950     |  | -           |  | 50,000        | 
|Net loss for the year                         | -             |  | -       |  | -          |  | (53,957)    |  | (53,957)      | 
|                                              |               |  |         |  |            |  |             |  |               | 
|Balance at 28 February 2009                   | 20,506,000    |  | 2,056   |  | 182,724    |  | (191,495)   |  | (6,715)       | 
|Contributions to
      capital by related     |               |  |         |  |            |  |             |  |               | 
|parties  expenses (Notes 7, 8 and 10)        | -             |  | -       |  | 10,800     |  | -           |  | 10,800        | 
|Net loss for the period                       | -             |  | -       |  | -          |  | (41,634)    |  | (41,634)      | 
|                                              |               |  |         |  |            |  |             |  |               | 
|Balance at 30 November 2009                   | 20,506,000    |  | 2,056   |  | 193,524    |  | (233,129)   |  | (37,549)      | 

The accompanying notes are an integral part of these financial
statements.

---

6

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|1. | Nature and Continuance of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | Striker Energy Corp. (the Company) was incorporated
      under the laws of the State of Nevada on 18 March 2005 and the Company
      intended to engage in the acquisition and exploration of mineral
      properties. On 28 September 2005, the Company entered into a mineral
      property option agreement with an unrelated third party (the Seller),
      wherein the Company would acquire 50% of the rights, title and interests
      in and to the Bald Mountain Claims in Nevada. Early in the summer of 2008,
      the Company abandoned its efforts to acquire the Bald Mountain Claims with
      a notice to the Seller. The Company has transitioned its business from
      mineral property exploration to oil and natural gas exploration and is
      currently searching for oil and gas exploration opportunities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | The Company is an exploration stage enterprise, as
      defined in Accounting Standards Codification (the Codification or ASC)
      915-10, Development Stage Entities. The Company is devoting all of its
      present efforts in establishing its new business, and its planned
      principle operations have not commenced, and, accordingly, no revenue has
      been derived during the organization period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | The Companys financial statements as at 30 November 2009
      and for the nine month period ended 30 November 2009 have been prepared on
      a going concern basis, which contemplates the realization of assets and
      the settlement of liabilities and commitments in the normal course of
      business. The Company had a loss of $41,634 for the nine month period
      ended 30 November 2009 (30 November 2008  $34,938) and had working
      capital at 30 November 2009 of $13,603 (28 February 2009 - working capital
      deficit  $6,715).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | Effective 12 September 2008, the Company completed a
      forward stock split by the issuance of two new common shares for each one
      outstanding common share of the Company. Unless otherwise noted, all
      references herein to number of shares, price per share or weighted average
      number of shares outstanding have been adjusted to reflect this stock
      split on a retroactive basis (Note 8).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | Management cannot provide assurance that the Company will
      ultimately achieve profitable operations or become cash flow positive, or
      raise additional debt and/or equity capital. As at 30 November 2009, the
      Companys assets consisted of cash and cash equivalents in the amount of
      $15,805. Management believes that the Companys capital resources are not
      adequate to continue operating and maintaining its business strategy for
      the fiscal year ending 28 February 2010. Because the Company does not have
      any assets or revenue from operations, it does not believe it will be able
      to raise capital from traditional lending sources. Although the Company
      has historically raised capital from sales of debt and equity, there is no
      assurance that it will be able to continue to do so. If the Company is
      unable to raise additional capital in the near future, due to the
      Companys liquidity problems, management expects that the Company will
      need to curtail or cease operations. These financial statements do not
      include any adjustments related to the recoverability and classification
      of assets or the amounts and classification of liabilities that might be
      necessary should the Company be unable to continue as a going
    concern.

---

7

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|   | As at 30 November 2009, the Company was not fully engaged
      in an operating business and expects to incur exploration stage operating
      losses for the next year to eighteen months. It intends to rely on
      officers and directors to perform essential functions with minimal
      compensation until a business operation can be fully commenced. Management
      believes the Company will be able to raise sufficient capital to implement
      its business plan, and thus will continue as a going concern during this
      period while its plans are implemented.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|2. | Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | The following is a summary of significant accounting
      policies used in the preparation of these financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | Basis of presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | The accounting and reporting policies of the Company
      conform to accounting principles generally accepted in the United States
      of America applicable to exploration stage enterprises (GAAP). The
      functional currency is the U.S. dollar, and the financial statements are
      presented in U.S. dollars.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | Cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | Cash and cash equivalents include highly liquid
      investments with original maturities of three months or less.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | Financial instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | The Companys financial instruments consist of cash and
      cash equivalents, accounts payable and accrued liabilities and amounts due
      to related party. Unless otherwise noted, it is managements opinion that
      the Company is not exposed to significant interest or credit risks rising
      from these financial instruments. The fair values of these financial
      instruments approximate their carrying values, unless otherwise
    noted.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | Oil and gas property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   | The Company follows the successful efforts method of
      accounting for its natural gas and oil activities. Under the successful
      efforts method, lease acquisition costs and all development costs are
      capitalized. Unproved properties are reviewed quarterly to determine if
      there has been impairment of the carrying value, and any such impairment
      is charged to expense in the period. Exploratory drilling costs are
      capitalized until the results are determined. If proved reserves are not
      discovered, the exploratory drilling costs are expensed. Other exploratory
      costs, such as seismic costs and other geological and geophysical
      expenses, are expensed as incurred. The provision for depreciation,
      depletion and amortization is based on the capitalized costs as determined
      above. Depreciation, depletion and amortization is on a cost center by
      cost center basis using the unit of production method, with lease
      acquisition costs amortized over total proved reserves and other costs
      amortized over proved developed reserves.

---

8

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | When circumstances indicate that proved properties may be
      impaired, the Company compares expected undiscounted future cash flows on
      a cost center basis to the unamortized capitalized cost of the asset. If
      the future undiscounted cash flows, based on the Companys estimate of
      future natural gas and oil prices and operating costs and anticipated
      production from proved reserves, are lower than the unamortized
      capitalized cost, then the capitalized cost is reduced to fair market
      value.                                                                                                         
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The Company amortizes and impairs natural gas and oil
      properties on a field-by-field cost center basis. Management believes this
      policy provides greater comparability with other successful efforts
      natural gas and oil companies by conforming to predominant industry
      practice. In addition, the field level is consistent with the Companys
      operational and strategic assessment of its natural gas and oil
      investments.                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The Company is in the process of acquiring an oil and gas
      property and has no property at this time.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Reclamation costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The Companys policy for recording reclamation costs is
      to record a liability for the estimated costs to reclaim mined land by
      recording charges to production costs for each tonne of ore mined over the
      life of the mine. The amount charged is based on managements estimation
      of reclamation costs to be incurred. The accrued liability is reduced as
      reclamation expenditures are made. Certain reclamation work is performed
      concurrently with mining and these expenditures are charged to operations
      at that time.                                                                                   
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Fair value of financial instruments and derivative
      financial instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The carrying amounts of cash and cash equivalents and
      current liabilities approximate fair value because of the short maturity
      of these items. These fair value estimates are subjective in nature and
      involve uncertainties and matters of significant judgment, and, therefore,
      cannot be determined with precision. Changes in assumptions could
      significantly affect these estimates. The Company does not hold or issue
      financial instruments for trading purposes, nor does it utilize derivative
      instruments in the management of foreign exchange, commodity price or
      interest rate market risks.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Long-lived assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Long-term assets of the Company are reviewed for
      impairment whenever events or circumstances indicate that the carrying
      amount of assets may not be recoverable, pursuant to guidance established
      in ASC 360-10-35-15, Impairment or Disposal of Long-Lived Assets.                                                                                                                                                                                                                                                                                                                                                                  
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Management considers assets to be impaired if the
      carrying value exceeds the future projected cash flows from related
      operations (undiscounted and without interest charges). If impairment is
      deemed to exist, the assets will be written down to fair value. Fair value
      is generally determined using a discounted cash flow analysis.                                                                                                                                                                                                                                                                                         

---

9

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | Derivative financial instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | The Company has not, to the date of these financial
      statements, entered into derivative instruments to offset the impact of
      foreign currency fluctuations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | Income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | Deferred income taxes are reported for timing differences
      between items of income or expense reported in the financial statements
      and those reported for income tax purposes in accordance with ASC 740,
      Income Taxes, which requires the use of the asset/liability method of
      accounting for income taxes. Deferred income taxes and tax benefits are
      recognized for the future tax consequences attributable to differences
      between the financial statement carrying amounts of existing assets and
      liabilities and their respective tax bases, and for tax losses and credit
      carry-forwards. Deferred tax assets and liabilities are measured using
      enacted tax rates expected to apply to taxable income in the years in
      which those temporary differences are expected to be recovered or settled.
      The Company provides for deferred taxes for the estimated future tax
      effects attributable to temporary differences and carry-forwards when
      realization is more likely than not.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | Basic and diluted net loss per share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | The Company computes net income (loss) per share in
      accordance with ASC 260 Earnings per Share. ASC 260 requires
      presentation of both basic and diluted earnings per share (EPS) on the
      face of the income statement. Basic EPS is computed by dividing net income
      (loss) available to common shareholders (numerator) by the weighted
      average number of shares outstanding (denominator) during the period.
      Diluted EPS gives effect to all dilutive potential common shares
      outstanding during the period using the treasury stock method and
      convertible preferred stock using the if-converted method. In computing
      diluted EPS, the average stock price for the period is used in determining
      the number of shares assumed to be purchased from the exercise of stock
      options or warrants. Diluted EPS excluded all dilutive potential shares if
      their effect is anti- dilutive.                                                                                                      
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | Comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | ASC 220, Comprehensive Income, establishes standards
      for the reporting and display of comprehensive loss and its components in
      the financial statements. As at 30 November 2009, the Company has no items
      that represent a comprehensive loss and, therefore, has not included a
      schedule of comprehensive loss in the financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

---

10

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | Segments of an enterprise and related information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | ASC 280, Segment Reporting establishes guidance for the
      way that public companies report information about operating segments in
      annual financial statements and requires reporting of selected information
      about operating segments in interim financial statements issued to the
      public. It also establishes standards for disclosures regarding products
      and services, geographic areas and major customers. ASC 280 defines
      operating segments as components of a company about which separate
      financial information is available that is evaluated regularly by the
      chief operating decision maker in deciding how to allocate resources and
      in assessing performance. The Company has evaluated this Codification and
      does not believe it is applicable at this time.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Start-up expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The Company has adopted ASC 720-15, Start-Up Costs,
      which requires that costs associated with start-up activities be expensed
      as incurred. Accordingly, start-up costs associated with the Companys
      formation have been included in the Companys general and administrative
      expenses for the period from the date of inception on 18 March 2005 to 30
      November 2009.                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Foreign currency translation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The Companys functional and reporting currency is U.S.
      dollars. The financial statements of the Company are translated to U.S.
      dollars in accordance with ASC 830, Foreign Currency Matters. Monetary
      assets and liabilities denominated in foreign currencies are translated
      using the exchange rate prevailing at the balance sheet date. Gains and
      losses arising on translation or settlement of foreign currency
      denominated transactions or balances are included in the determination of
      income. The Company has not, to the date of these financial statements,
      entered into derivative instruments to offset the impact of foreign
      currency fluctuations.                                                                                                              
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | Use of estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | The preparation of financial statements in conformity
      with GAAP requires management to make estimates and assumptions that
      affect the amounts of assets and liabilities and disclosures of contingent
      assets and liabilities at the date of the financial statements and the
      reported amounts of revenues and expenditures during the reporting period.
      Actual results could differ from these estimates.                                                                                                                                                                                                                                                                                                                                                                                                  

---

11

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | Recent accounting pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | From June 2009 to October 2009, the FASB issued various
      updates, Accounting Standard Update (ASU) No. 2009-2 through ASU No.
      2009-15, which contain technical corrections to existing guidance or
      affect guidance to specialized industries or entities. These updates have
      no current applicability to the Company or their effect on the financial
      statements is insignificant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | In June 2009, the FASB issued Statement of Financial
      Accounting Standards (SFAS) No. 167, Amendments to FASB Interpretation
      No. 46(R). SFAS No. 167, which amends ASC 810-10, Consolidation,
      prescribes a qualitative model for identifying whether a company has a
      controlling financial interest in a variable interest entity (VIE) and
      eliminates the quantitative model. The new model identifies two primary
      characteristics of a controlling financial interest: (1) provides a
      company with the power to direct significant activities of the VIE, and
      (2) obligates a company to absorb losses of and/or provides rights to
      receive benefits from the VIE. SFAS 167 requires a company to reassess on
      an ongoing basis whether it holds a controlling financial interest in a
      VIE. A company that holds a controlling financial interest is deemed to be
      the primary beneficiary of the VIE and is required to consolidate the VIE.
      SFAS No. 167, which is referenced in ASC 105-10-65, has not yet been
      adopted into the Codification and remains authoritative. SFAS No. 167 is
      effective 1 January 2010. The Company does not expect that the adoption of
      SFAS No. 167 will have a material impact on its financial statements.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | In June 2009, the FASB issued SFAS No. 166, Accounting
      for Transfer of Financial Assets  an amendment of FASB Statement. SFAS
      No. 166 removes the concept of a qualifying special-purpose entity from
      ASC 860-10, Transfers and Servicing, and removes the exception from
      applying ASC 810-10, Consolidation. These statements also clarifies the
      requirements for isolation and limitations on portions of financial assets
      that are eligible for sale accounting. SFAS No. 166, which is referenced
      in ASC 105-10-65, has not yet been adopted into the Codification and
      remains authoritative. This statement is effective 1 January 2010. The
      Company does not expect that the adoption of SFAS No. 166 will have a
      material impact on its financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | International Financial Reporting Standards                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | In November 2008, the Securities and Exchange Commission
      (SEC) issued for comment a proposed roadmap regarding potential use of
      financial statements prepared in accordance with International Financial
      Reporting Standards (IFRS) as issued by the International Accounting
      Standards Board. Under the proposed roadmap, the Company would be required
      to prepare financial statements in accordance with IFRS in fiscal year
      2014, including comparative information also prepared under IFRS for
      fiscal 2013 and 2012. The Company is currently assessing the potential
      impact of IFRS on its financial statements and will continue to follow the
      proposed roadmap for future developments.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

---

12

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | Changes in accounting policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Fair Value Measurement and Disclosure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | In August 2009, the FASB issued ASU No. 2009-05, Fair
      Value Measurement and Disclosure (Topic 820)  Measuring Liabilities at
      Fair Value, which provides valuation techniques to measure fair value in
      circumstances in which a quoted price in an active market for the
      identical liability is not available. The guidance provided in this update
      is effective 1 September 2009. The adoption of this guidance did not have
      a material impact on the Companys financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | The Accounting Standards Codification                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | In June 2009, the FASB issued SFAS No. 168, The FASB
      Accounting Standards Codification and the Hierarchy of Generally Accepted
      Accounting Principle  a replacement of FASB Statement No. 162. The
      Codification reorganized existing U.S. accounting and reporting standards
      issued by the FASB and other related private sector standard setter into a
      single source of authoritative accounting principles arranged by topic.
      The Codification supersedes all existing U.S. accounting standards; all
      other accounting literature not included in the Codification (other than
      Securities and Exchange Commission guidance for publicly-traded companies)
      is considered non-authoritative. The Codification was effective on a
      prospective basis for interim and annual reporting periods ending after 15
      September 2009. The adoption of the Codification changed the Companys
      references to U.S. GAAP accounting standards but did not impact the
      Companys results of operations, financial position or liquidity.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Subsequent Events                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | In May 2009, the FASB issued new guidance for accounting
      for subsequent events. The new guidance, which is now part of ASC 855,
      Subsequent Events is intended to establish general standards of
      accounting for and disclosure of events that occur after the balance sheet
      date, but before financial statements are issued or are available to be
      issued. It requires the disclosure of the date through which an entity has
      evaluated subsequent events and the basis for that date. This disclosure
      should alert all users of financial statements that an entity has not
      evaluated subsequent events after that date in the set of financial
      statements being presented. The new guidance was effective on a
      prospective basis for interim or annual reporting periods ending after 15
      June 2009. The adoption of this guidance did not have a material impact on
      the Companys financial statements.                                                                                                                     

---

13

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

| | Convertible Debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | In May 2008, the FASB issued new guidance for accounting
      for convertible debt instruments that may be settled in cash. The new
      guidance, which is now part of ASC 470-20, Debt with Conversion and Other
      Options requires the liability and equity components to be separately
      accounted for in a manner that will reflect the entitys nonconvertible
      debt borrowing rate. The Company will allocate a portion of the proceeds
      received from the issuance of convertible notes between a liability and
      equity component by determining the fair value of the liability component
      using the Companys nonconvertible debt borrowing rate. The difference
      between the proceeds of the notes and the fair value of the liability
      component will be recorded as a discount on the debt with a corresponding
      offset to paid-in capital. The resulting discount will be accreted by
      recording additional non-cash interest expense over the expected life of
      the convertible notes using the effective interest rate method. The new
      guidance was to be applied retrospectively to all periods presented upon
      those fiscal years. The adoption of this guidance did not have a material
      impact on the Companys financial statements.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | Useful Life of Intangible Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | In April 2008, the FASB issued new guidance for determining
      the useful life of an intangible assets, the new guidance, which is now
      part of ASC 350, Intangibles  Goodwill and Other. In determining the
      useful life of intangible assets, ASC 350 removes the requirement to
      consider whether an intangible asset can be renewed without substantial
      cost of material modifications to the existing terms and conditions and,
      instead, requires an entity to consider its own historical experience in
      renewing similar arrangements. ASC 350 also requires expanded disclosure
      related to the determination of intangible asset useful lives. The new
      guidance was effective for financial statements issued for fiscal years
      beginning after 15 December 2008. The adoption of this guidance did not
      have a material impact on the companys financial statements.                                                                                                                                                                                                                                                                                                                                                                                        
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | Derivative Instruments and Hedging Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | In March 2008, the FASB issued new guidance on the
      disclosure of derivative instruments and hedging activities. The new
      guidance, which is now part of ASC 815, Derivatives and Hedging
      Activities requires qualitative disclosures about objectives and
      strategies for using derivatives, quantitative disclosures about fair
      value amounts of, and gains and losses on, derivative instruments, and
      disclosures about credit-risk-related contingent features in derivative
      agreements. The new guidance was effective prospectively for financial
      statements issued for fiscal years beginning after 15 November 2008, with
      early application encouraged. The adoption of this guidance did not have a
      significant impact on the Companys financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

---

14

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|   | Business Combinations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | In December 2007, the FASB issued revised guidance for
      accounting for business combinations. The revised guidance, which is now
      part of ASC 805, Business Combination requires the fair value
      measurement of assts acquired, liabilities assumed and any noncontrolling
      interest in the acquiree, at the acquisition date with limited exceptions.
      Previously, a cost allocation approach was used to allocate the cost of
      the acquisition based on the estimated fair value of the individual assets
      acquired and liabilities assumed. The cost allocation approach treated
      acquisition-related costs and restructuring costs that the acquirer
      expected to incur as a liability on the acquisition date, as part of the
      cost of the acquisition. Under the revised guidance, those costs are
      recognized in the statement of income separately from the business
      combination. The revised guidance applies to business combinations for
      which the acquisition date is on or after the beginning of the first
      annual reporting period beginning on or after 15 December 2008. The
      adoption of this guidance did not have a material impact on the Companys
      financial statements.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|3. | Mineral Properties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | On 28 September 2005, the Company entered into a mineral
      property option agreement with an unrelated third party, wherein the
      Company could acquire 50% of the rights, title and interests in and to the
      Bald Mountain Claims in Nye County, Nevada (the Bald Mountain Claims) by
      paying $5,000 in cash on signing (paid), $5,000 on the second anniversary
      of the agreement (accrued), $10,000 on the third anniversary of the
      agreement and to complete exploration expenditures totalling $500,000 by
      28 September 2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | During the year ended 28 February 2009, the Company
      abandoned its interest in the Bald Mountain Claims and recorded a recovery
      of mineral property acquisition costs of $5,000. This amount was
      previously recorded as payable on 28 September 2007 (Note 10).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|4. | Accounts Payable and Accrued Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | Accounts payable and accrued liabilities are non-interest
      bearing, unsecured and have settlement dates within one year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|5. | Promissory Note                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | Issued on 15 June 2009, the promissory note bears
      interest at 5% per annum on the principal balance and is secured by a
      general charge on the assets of the Company. The principal amount or such
      portion thereof as shall remain outstanding from time to time shall accrue
      simple interest, calculated monthly in arrears, at a rate of five percent
      (5%) per annum commencing on the date of this promissory note and payable
      at maturity. When not in default the promissory note and accrued interest
      can be repaid in whole or in part without notice or bonus. During the nine
      month period ended 30 November 2009, the Company accrued interest expense
      of $1,152. The balance as at 30 November 2009 consists of principal and
      accrued interest of $50,000 (2008  $Nil) and $1,152 (2008  $Nil),
      respectively.                                                                                                                                                                                                                                                                                                                                                                                        

---

15

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|6. | Due to Related Party                                                                                                                                                                                                                                                                                                                                   
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | The amount due to related party at 30 November 2009 was
      $Nil (28 February 2009  $1,128). During the nine month period ended 30
      November 2009, the Company repaid $1,775 owed to an officer and director
      of the Company (Note 7).                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                        
|7. | Related Party Transactions                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | During the nine month period ended 30 November 2009, an
      officer and director of the Company made contributions to capital for
      management fees in the amount of $9,000 (30 November 2008  $9,000,
      cumulative  $42,000) and for rent in the amount of $1,800 (30 November
      2008  $1,800, cumulative  $9,600) (Notes 8 and 10).
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | During the nine month period ended 30 November 2009, the
      Company repaid $1,775 owed to an officer and director of the Company (Note
      6).                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                        
|8. | Capital Stock                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | Authorized                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | The total authorized capital is 150,000,000 common shares
      with a par value of $0.0001.                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | Issued and outstanding                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | The total issued and outstanding capital stock is
      20,506,000 common shares with a par value of $0.0001 per common
    share.                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | On 1 September 2005, 10,000,000 common shares of the
      Company were issued to an officer and director of the Company for cash
      proceeds of $5,000.                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | On 2 May 2006, the Company completed a public offering of
      securities pursuant to an exemption provided by Rule 504 of Regulation D,
      registered in the State of Nevada, and issued 10,000,000 common shares for
      total cash proceeds of $50,000.                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | On 29 August 2006, 4,000 common shares valued at $0.005
      per share of the Company were issued to an officer and director of the
      Company for services rendered (Note 10).                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | On 1 February 2007, 2,000 common shares valued at $0.005
      per share of the Company were issued to a director of the Company for
      services rendered (Note 10).                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                        
|   | On 30 April 2007, 1,000,000 common shares of the Company
      were returned to treasury and cancelled; $5,000 was returned to the
      investors (Note 10).                                                                                                                                                                                          

---

16

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|   | On 14 May 2007, 1,000,000 common shares valued at $0.005
      per share of the Company were issued for total cash proceeds of
    $5,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | Effective 12 September 2008, the Company completed a 2 to
      1 forward stock split and increased the authorized share capital from
      75,000,000 common shares to 150,000,000 common shares with the same par
      value of $0.0001. Unless otherwise noted, all references herein to number
      of shares, price per share or weighted average number of shares
      outstanding have been adjusted to reflect this stock split on retroactive
      basis (Note 1).                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | On 6 November 2008, 500,000 common shares valued at $0.10
      per share of the Company were issued for total cash proceeds of
      $50,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | During the nine month period ended 30 November 2009, an
      officer and director of the Company made contributions to capital for
      management fees in the amount of $9,000 (30 November 2008  $9,000,
      cumulative  $42,000) and for rent in the amount of $1,800 (30 November
      2008  $1,800, cumulative  $9,600) (Notes 7 and 10).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|9. | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | The Company has losses carried forward for income tax
      purposes to 30 November 2009. There are no current or deferred tax
      expenses for the period ended 30 November 2009 due to the Companys loss
      position. The Company has fully reserved for any benefits of these losses.
      The deferred tax consequences of temporary differences in reporting items
      for financial statement and income tax purposes are recognized, as
      appropriate. Realization of the future tax benefits related to the
      deferred tax assets is dependent on many factors, including the Companys
      ability to generate taxable income within the net operating loss
      carryforward period. Management has considered these factors in reaching
      its conclusion as to the valuation allowance for financial reporting
      purposes.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | The provision for refundable federal income tax consists
      of the following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

| |                                                     |  | For the      |   |  | For the      |  
| | --------------------------------------------------- |  | ------------ | - |  | ------------ | -
| |                                                     |  | nine month   |   |  | nine month   |  
| |                                                     |  | period ended |   |  | period ended |  
| |                                                     |  | 30 November  |   |  | 30 November  |  
| |                                                     |  | 2009         |   |  | 2008         |  
| |                                                     |  | **$**        |   |  | **$**        |  
| |                                                     |  |              |   |  |              |  
| | Refundable federal tax asset attributable
      to: |  |              |   |  |              |  
| | Current operations                                  |  | 14,156       |   |  | 11,879       |  
| | Contributions to capital by related party           |  | (3,672       | ) |  | (3,672       | )
| | Less: Change in valuation allowance                 |  | (10,484      | ) |  | (8,207       | )
| |                                                     |  |              |   |  |              |  
| | Net refundable amount                               |  | -            |   |  | -            |  

---

17

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|The composition of the Companys deferred tax assets as at
      30 November 2009 and 28 February 2009 is as
|------------------------------------------------------------------------------------------------------------
|follows:                                                                                                    

| |                                   |  |          |   |  | As at       |  
| | --------------------------------- |  | -------- | - |  | ----------- | -
| |                                   |  | As at 30 |   |  | 28 February |  
| |                                   |  | November |   |  | 2009        |  
| |                                   |  | 2009     |   |  | (Audited)   |  
| |                                   |  | **$**    |   |  | **$**       |  
| |                                   |  |          |   |  |             |  
| | Net operating loss carryforward   |  | 142,549  |   |  | 111,715     |  
| |                                   |  |          |   |  |             |  
| | Statutory federal income tax rate |  | 34%      |   |  | 34%         |  
| | Effective income tax rate         |  | 0%       |   |  | 0%          |  
| |                                   |  |          |   |  |             |  
| | Deferred tax asset                |  | 48,467   |   |  | 37,983      |  
| | Less: Valuation allowance         |  | (48,467  | ) |  | (37,983     | )
| |                                   |  |          |   |  |             |  
| | Net deferred tax asset            |  | -        |   |  | -           |  

|    | The potential income tax benefit of these losses has been
      offset by a full valuation allowance.                                                                                                                                                                
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                      
|    | As at 30 November 2009, the Company has an unused net
      operating loss carry forward balance of approximately $142,549 that is
      available to offset future taxable income. This unused net operating loss
      carry- forward balance expires through 2030.
|    |                                                                                                                                                                                                                                                                      
|10. | Supplemental Disclosures with Respect to Cash
      Flows                                                                                                                                                                                                            

| |                                              | For the      |          |          |          |         
| | -------------------------------------------- | ------------ | -------- | -------- | -------- | --------
| |                                              | period from  | For the  | For the  | For the  | For the 
| |                                              | the date of  | three    | three    | nine     | nine    
| |                                              | inception on | month    | month    | month    | month   
| |                                              | 18 March     | period   | period   | period   | period  
| |                                              | 2005 to 30   | ended 30 | ended 30 | ended 30 | ended 30
| |                                              | November     | November | November | November | November
| |                                              | 2009         | 2009     | 2008     | 2009     | 2008    
| |                                              | $            | $        | $        | $        | $       
| | Cash paid during the period for interest     |              |          |          |          |         
| | Cash paid during the period for income taxes | -            | -        | -        | -        | -       

| | On 29 August 2006, 4,000 common shares valued at $0.005 per
      share of the Company were issued to an officer and director of the Company
      for services rendered (Note 8).
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

---

18

|Striker Energy Corp.          
|------------------------------
|(An Exploration Stage Company)
|Notes to Financial Statements 
|(Expressed in U.S. Dollars)   
|(Unaudited)                   
|30 November
      2009        

|    | On 1 February 2007, 2,000 common
      shares valued at $0.005 per share of the Company were issued to a director
      of the Company for services rendered (Note 8).                                                                                                                                                                                      
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                             
|    | On 30 April 2007, 1,000,000
      common shares of the Company were returned to treasury and cancelled;
      $5,000 was returned to the investors (Note 8).                                                                                                                                                                                                
|    |                                                                                                                                                                                                                                                                                                                                                             
|    | During the year ended 28 February
      2009, two former officers and directors of the Company forgave loans to
      the Company totaling $38,950. This loan forgiveness has been recorded as
      contributions to capital.                                                                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                             
|    | During the year ended 28 February
      2009, the Company abandoned it interest in the Bald Mountain Claims and
      recorded a recovery of mineral property acquisition costs of $5,000. This
      amount was previously recorded as payable on 28 September 2007 (Note 3).                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                             
|    | During the nine month period
      ended 30 November 2009, an officer and director of the Company made
      contributions to capital for management fees in the amount of $9,000 (30
      November 2008  $9,000, cumulative  $42,000) and for rent in the amount
      of $1,800 (30 November 2008  $1,800, cumulative  $9,600) (Notes 7 and
      8).
|    |                                                                                                                                                                                                                                                                                                                                                             
|11. | Subsequent Events                                                                                                                                                                                                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                             
|    | There are no subsequent events
      from the date of the nine month period ended 30 November 2009 to the date
      the financial statements were available to be issued on 14 January 2010.                                                                                                                                                               

---

19

|ITEM 2. | **MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL
      CONDITION AND** **RESULTS OF
    OPERATIONS**
|------- | -------------------------------------------------------------------------------------------------------

Forward-Looking Statements

This quarterly report on Form 10-Q contains forward-looking
statements. Forward-looking statements are statements that relate to future
events or future financial performance. In some cases, you can identify forward
looking statements by the use of terminology such as may, should, intend,
expect, plan, anticipate, believe, estimate, project, predict,
potential, or continue or the negative of these terms or other comparable
terminology. These statements speak only as of the date of this quarterly report
on Form 10-Q. Examples of forward-looking statements made in this quarterly
report on Form 10-Q include statements pertaining to, among other things:

- our desire to acquire oil and gas properties or opportunities;
- capital expenditure programs;
- projections of market prices and costs;
- supply and demand for natural gas and crude oil;
- our need for, and our ability to raise, capital; and
- treatment under governmental regulatory regimes and tax laws.

These statements are only predictions and involve known and
unknown risks, uncertainties and other factors, including:

- our ability to establish or find oil and natural gas properties, or oil or
  natural gas resources or reserves;
- volatility in market prices for natural gas and crude oil;
- liabilities inherent in natural gas and crude oil operations;
- uncertainties associated with estimating natural gas and crude oil
  resources or reserves;
- competition for, among other things, capital, resources, undeveloped lands
  and skilled personnel;
- political instability or changes of laws in the countries in which we
  operate and risks of terrorist attacks;
- incorrect assessments of the value of acquisitions;
- geological, technical, drilling and processing problems;
- other factors discussed under the section entitled Risk Factors
  beginning on page 24 of this quarterly report on Form 10-Q, below.

These risks, as well as risks that we cannot currently
anticipate, could cause our or our industry's actual results, levels of activity
or performance to be materially different from any future results, levels of
activity or performance expressed or implied by these forward looking
statements.

Although we believe that the expectations reflected in the
forward looking statements are reasonable, we cannot guarantee future results,
levels of activity or performance. Except as required by applicable law,
including the securities laws of the United States and Canada, we do not intend
to update any of the forward looking statements to conform these statements to
actual results.

The following discussion should be read in conjunction with our
financial statements and the related notes that appear elsewhere in this
quarterly report. The following discussion contains forward-looking statements
that reflect our plans, estimates and beliefs. Our actual results could differ
materially from those discussed in the forward looking statements. Factors that
could cause or contribute to such differences include those discussed below and
elsewhere in this quarterly report on Form 10-Q.

Our audited financial statements are stated in United States
Dollars and are prepared in accordance with United States Generally Accepted
Accounting Principles.

---

20

Corporate Overview

Our company was incorporated under the laws of Nevada on March
18, 2005. From inception until the summer of 2008, we were engaged in the
mineral exploration business. During the summer of 2008, we abandoned our
mineral exploration properties. We have now transitioned from the mineral
exploration business to the oil and natural gas business and we are currently
searching for oil and gas exploration opportunities.

We have begun to look for oil and gas opportunities in emerging
North American shale plays such as the Marcellus Shale, the Mowry Shale, the
Utica Shale and the Bakken Formation, among other as yet unidentified
opportunities. We have also begun to look to hire veteran industry experts to
expand our management team and better position our company in the oil and gas
business.

We believe that developments in technology and increasing
energy prices made development of gas shales in North America a priority among
exploration and production companies. We intend to continue our search for
large footprint oil and gas rights in less developed shale plays that offer a
similar prospect for appreciation in value, and are prospective for large scale
development.

We intend to add experts in finance, geology, engineering, and
land management to better capitalize on the specific opportunities available to
the company. Our CEO is an engineer by training with experience in finance and
oil and gas exploration and production. We intend to attract and retain
additional specialists to address the specific market segment already identified
and to cultivate additional value for shareholders. Specialists include
geologists with experience identifying regions prospective for oil and gas in
place, land managers capable of acquiring large contiguous blocks of land, and
engineers who know how to advance exploration into production.

Liquidity and Capital Resources

Our financial condition for the three and nine month periods
ended November 30, 2009 and 2008 and as of November 30, 2009 and February 28,
2009 for the respective items are summarized below.

We have suffered recurring losses from inception. Our ability
to meet our financial liabilities and commitments is primarily dependent upon
the continued financial support of our directors and shareholders, the continued
issuance of equity to new or existing shareholders, and our ability to achieve
and maintain profitable operations.

Working Capital

November 30,
    
    
    February 28,2009
    
    
    2009Current Assets
    $
    15,805
    
    $
    2,448Current Liabilities
    
    2,202
    
    
    9,163Working Capital (Deficit)
    $
    13,603
    
    $
    (6,715
    )


As of November 30, 2009 our working capital increased by
$20,318 due to a promissory note issued by us for $50,000. The funds received
have been used to pay operating costs. We have incurred recurring losses from
inception. Our ability to meet our financial obligations and commitments is
primarily dependent upon the continued financial support of our shareholders,
directors and the continued issuance of equity to new and existing shareholders.

Cash Flows

|                     |   | For the three |   |   | For the three |   |   | For the nine  |   |  | For the nine  |  
|-------------------- | - | ------------- | - | - | ------------- | - | - | ------------- | - |  | ------------- | -
|                     |   | month period  |   |   | month period  |   |   | month period  |   |  | month period  |  
|                     |   | ended 30      |   |   | ended 30      |   |   | ended 30      |   |  | ended 30      |  
|                     |   | November 2009 |   |   | November 2008 |   |   | November 2009 |   |  | November 2008 |  
|Cash flows used in   | $ | (9,050        | ) | $ | (36,959       | ) | $ | (35,515       | ) |  | (42,112       | )
|operating activities |   |               |   |   |               |   |   |               |   |  |               |  

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21

|                     |   | For the three |   |   | For the three |  |   | For the nine  |  |  | For the nine  | 
|-------------------- | - | ------------- | - | - | ------------- |  | - | ------------- |  |  | ------------- | 
|                     |   | month period  |   |   | month period  |  |   | month period  |  |  | month period  | 
|                     |   | ended 30      |   |   | ended 30      |  |   | ended 30      |  |  | ended 30      | 
|                     |   | November 2009 |   |   | November 2008 |  |   | November 2009 |  |  | November 2008 | 
|Cash flows from      | $ | -             |   | $ | 51,031        |  | $ | 48,872        |  |  | 56,154        | 
|financing activities |   |               |   |   |               |  |   |               |  |  |               | 
|Cash flows from      | $ | -             |   | $ | -             |  | $ | -             |  |  | -             | 
|investing activities |   |               |   |   |               |  |   |               |  |  |               | 
|Increase (decrease)  | $ | (9,050        | ) | $ | 14,072        |  | $ | 13,357        |  |  | 14,042        | 
|in cash              |   |               |   |   |               |  |   |               |  |  |               | 

Cash flow used in operating activities

Our cash used in operating activities for the three months
ended November 30, 2009 compared to our cash used in operating activities for
the three months ended November 30, 2008 decreased by $27,909, 76% largely due
to payments made to creditors in 2008.

Our cash used in operating activities for the nine months ended
November 30, 2009 compared to our cash used in operating activities for the nine
months ended November 30, 2008 decreased by $6,597, 16% largely due to a
recovery of mineral property acquisition cost in 2008.

Cash flow provided by financing activities

Our cash provided by financing activities for the three months
ended November 30, 2009 compared to our cash provided by financing activities
for the three months ended November 30, 2008 decreased by $51,031 or 100%, due
to the sale of common shares for net proceeds of $50,000 and an advance by a
related party of $1,031 in 2008.

Our cash provided by financing activities for the nine months
ended November 30, 2009 compared to our cash provided by financing activities
for the nine months ended November 30, 2008 decreased by $7,282 or 13% largely
due to the repayment of advances from a related party. The 2009 financing was
completed by issuing a $50,000 promissory note while the 2008 financing raise
$50,000 by issuing common shares.

Cash Provided by Investing Activities

No cash was used in or provided by investing activities for
either the three months or for the nine months ended November 30, 2009 or 2008.

Results of Operation

The following summary of our results of operations should be
read in conjunction with our unaudited financial statements for the three and
nine month period ended November 30, 2009.

Revenues

We have had no operating revenues since our inception on March
18, 2005 through to the period ended November 30, 2009. We anticipate that we
will not generate any revenues for so long as we are an exploration stage
company.

Expenses

The tables below show our operating results for the three month
and nine month periods ended November 30, 2009 and 2008.

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22

|                               | For the      |   | For the      |   | For the      |   | For the      |  
|------------------------------ | ------------ | - | ------------ | - | ------------ | - | ------------ | -
|                               | three month  |   | three month  |   | nine month   |   | nine month   |  
|                               | period ended |   | period ended |   | period ended |   | period ended |  
|                               | 30 November  |   | 30 November  |   | 30 November  |   | 30 November  |  
|                               | 2009         |   | 2008         |   | 2009         |   | 2008         |  
|                               | **$**        |   |              |   |              |   | **$**        |  
|                               |              |   |              |   |              |   |              |  
|Expenses                       |              |   |              |   |              |   |              |  
|Bank charges and interest      | 62           |   | 126          |   | 234          |   | 160          |  
|Consulting fees                | -            |   | -            |   | -            |   | -            |  
|Filing fees                    | 525          |   | 1,668        |   | 1,916        |   | 2,668        |  
|Interest expense               | 625          |   | -            |   | 1,152        |   | -            |  
|Investor relations             | -            |   | 730          |   | -            |   | 730          |  
|Legal and accounting fees      | 7,106        |   | 11,890       |   | 24,934       |   | 21,423       |  
|Licenses and permits           | -            |   | 638          |   | -            |   | 763          |  
|Management fees                | 3,000        |   | 3,000        |   | 9,000        |   | 9,000        |  
|Mineral property expenditures  | -            |   | -            |   | -            |   | -            |  
|Office expenses                | 5            |   | 294          |   | 48           |   | 439          |  
|Recovery from mineral property |              |   |              |   |              |   |              |  
|acquisition costs              | -            |   | -            |   | -            |   | (5,000       | )
|Rent                           | 600          |   | 600          |   | 1,800        |   | 1,800        |  
|Transfer agent fees            | 825          |   | 1,368        |   | 2,550        |   | 2,955        |  
|Web site development           | -            |   | -            |   | -            |   | -            |  
|Write down of mineral property |              |   |              |   |              |   |              |  
|acquisition costs              | -            |   | -            |   | -            |   | -            |  
|                               |              |   |              |   |              |   |              |  
|Net loss for the period        | (12,748      | ) | (20,314      | ) | (41,634      | ) | (34,938      | )

In the three month period ended November 30, 2009 our expenses
decreased $7,566 or 37% relative to the three month period ended November 30,
2008, due to reductions in legal, accounting and filing fees in the period.

In the nine month period ended November 30, 2009 our expenses
of increased by $6,696 or 19% relative to the nine month period ended November
30, 2008 due primarily to a $5,000 recovery of mineral property acquisition
costs, higher accounting and legal fees, and higher interest expenses, offset by
investor relation and filing fees in 2008.

Anticipated Cash Requirements

We continue to look for oil and gas opportunities in emerging
North American shale plays such as the Marcellus Shale, the Mowry Shale, the
Utica Shale and the Bakken Formation, among other as yet unidentified
opportunities. We continue to look to hire veteran industry experts to expand
our management team and better position our company in the oil and gas
business.

We believe that developments in technology and increasing
energy prices made development of gas shales in North America a priority among
exploration and production companies. We intend to continue our search for
large footprint oil and gas rights in less developed shale plays that offer a
similar prospect for appreciation in value, and are prospective for large scale
development.

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23

We intend to add experts in finance, geology, engineering, and
land management contemporaneously with our identification of a prospective
project to better capitalize on the specific opportunities available to the
company. Our CEO is an engineer by training with experience in finance and oil
and gas exploration and production. We intend to attract and retain additional
specialists to address the specific market segment already identified and to
cultivate additional value for shareholders. Specialists include geologists with
experience identifying regions prospective for oil and gas in place, land
managers capable of acquiring large contiguous blocks of land, and engineers who
know how to advance exploration into production.

Our plan of operation over the next 12 months is to identify a
suitable natural gas, oil, or oil and natural gas opportunity and to raise
sufficient capital to initiate exploration or development, and in turn to deploy
capital to proceed with an exploration or development plan.

Specifically, we estimate our operating expenses and working
capital requirements for the next 12 months to be as follows:

|Expense                             |   | Amount    | 
|----------------------------------- | - | --------- | 
|Bank charges and interest           | $ | 3,000     | 
|Filing fees                         |   | 3,000     | 
|Investor relations                  |   | 1,000     | 
|Legal and
      accounting fees     |   | 36,000    | 
|Licenses and permits                |   | 1,000     | 
|Mineral property
      expenditures |   | 1,000,000 | 
|Transfer agent fees                 |   | 4,000     | 
|Total:                              | $ | 1,048,000 | 

There can be no assurance that additional financing will be
available to us when needed or, if available, that it can be obtained on
commercially reasonable terms. If we are not able to obtain the additional
financing on a timely basis, if and when it is needed, we will be forced to
scale down or perhaps even cease the operation of our business.

We cannot provide assurance that we will ultimately achieve
profitable operations or become cash flow positive, or raise additional debt
and/or equity capital. As of November 30, 2009, our assets only consisted of
cash and cash equivalents in the amount of $15,805. Management believes that our
capital resources are not adequate to continue operating and maintaining our
business strategy for the fiscal year ending February 28, 2010. Because we do
not have sufficient assets or any revenue from operations, we do not believe
that we will be able to raise capital from traditional lending sources. Although
we have historically raised capital from sales of equity and issuing debt, there
is no assurance that we will be able to continue to do so. If we are unable to
raise additional capital in the near future, due to our liquidity problems,
management expects that we will need to curtail or cease operations. These
circumstances raise substantial doubt about our ability to continue as a going
concern. Our independent auditors also included an explanatory paragraph
regarding substantial doubt about our ability to continue as a going concern to
their report on our financial statements for the year ended February 28, 2009,
which are included in our annual report on Form 10-K filed on May 22, 2009.

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have
or are reasonably likely to have a current or future effect on our financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that is
material to stockholders.

|ITEM 3. | QUANTITATIVE AND QUALITATIVE
      DISCLOSURES ABOUT MARKET RISK
|------- | ----------------------------------------------------------------

Not Applicable

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24

|ITEM 4T. | CONTROLS AND PROCEDURES
|-------- | -----------------------

Disclosure Controls and Procedures

We maintain disclosure controls and procedures, as that term
is defined in Rule 13a-15(e), promulgated by the Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934, as amended.
Disclosure controls and procedures include controls and procedures designed to
ensure that information required to be disclosed in our company's reports filed
under the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commissions rules and forms, and that such information is accumulated and
communicated to our management, including our principal executive officer and
principal financial officer to allow timely decisions regarding required
disclosure.

As required by paragraph (b) of Rules 13a-15 under the
Securities Exchange Act of 1934, our management, with the participation of our
principal executive officer and principal financial officer, evaluated our
companys disclosure controls and procedures as of the end of the period covered
by this quarterly report on Form 10-Q. Based on this evaluation, our management
concluded that as of the end of the period covered by this quarterly report on
Form 10-Q, our disclosure controls and procedures were effective.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial
reporting during the third quarter of our fiscal year ended February 28, 2010
that have materially affected, or are reasonably likely to materially affect our
internal control over financial reporting.

Certifications

Certifications with respect to disclosure controls and
procedures and internal control over financial reporting under Rules 13a-14(a)
of the Exchange Act are attached to this quarterly report on Form 10-Q.

PART II  OTHER INFORMATION

|ITEM 1. | LEGAL PROCEEDINGS
|------- | -----------------

We know of no material, existing or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial shareholder,
is an adverse party or has a material interest adverse to our interest.

|ITEM 1A. | RISK FACTORS
|-------- | ------------

An investment in our common stock involves a number of very
significant risks. You should carefully consider the following risks and
uncertainties in addition to other information in this report in evaluating our
company and its business before purchasing shares of our companys common stock.
Our business, operating results and financial condition could be seriously
harmed due to any of the following risks. You could lose all or part of your
investment due to any of these risks.

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25

Risks Related to our Company

The recent global economic crisis resulted in reduced demand
worldwide for oil and natural gas which, in turn, has lead to lower commodity
prices. This has had an adverse impact on capital markets, making it more
difficult for companies like ours to raise money to fund our operations. If the
current global economic crisis continues, we may find it to be more difficult to
raise money to pay for acquisitions and exploration activities.

Since October 2008, oil prices decreased by two thirds from
their highest prices and natural gas prices have decreased as much as 50% but
the costs of exploration, development and production have not yet adjusted to
current economic conditions or the reduction in commodity prices. Prolonged,
substantial decreases in oil and natural gas prices would likely have a material
adverse effect on our business, financial condition and results of operations.

Capital and credit markets experienced unprecedented volatility
and disruption during the last half of 2008 and the early part of 2009 and they
continue to be unpredictable. Given the current levels of market volatility and
disruption, the availability of funds from those markets has diminished
substantially. Further, concerns about the stability of financial markets
generally and the solvency of borrowers specifically has increased the cost of
accessing the credit markets, as many lenders have raised interest rates,
enacted tighter lending standards or altogether ceased to lend money.

Due to these capital and credit market conditions, we cannot be
certain that funding will be available to us in amounts or on terms that we
believe are acceptable.

Our independent auditors have expressed substantial doubt
about our ability to continue as a going concern.

We have not generated any revenue from operations since our
incorporation. During the nine-month period ended November 30, 2009, we incurred
a net loss of $41,634. From inception through November 30, 2009, we incurred an
aggregate loss of $233,129. We anticipate that we will continue to incur
operating expenses without generating any revenues unless and until we are able
to identify, acquire and develop an oil and gas opportunity. In addition, we
expect that our operating expenses will increase substantially over the next 12
months as we ramp-up our proposed oil and gas business. We estimate our average
monthly expenses over the next 12 months to be approximately $60,000, including
general and administrative expenses but excluding property acquisition costs and
the cost of any exploration activities. On November 30, 2009, we had cash and
cash equivalents of approximately $15,805. In order to fund our anticipated
budget for the next 12 months, including property acquisition costs, we believe
that we will need to raise approximately $1,100,000. This amount could increase
if we encounter difficulties that we cannot anticipate at this time. As we
cannot assure a lender that we will be able to successfully acquire, explore and
exploit an oil or natural gas property, we will almost certainly find it
difficult to raise debt financing from traditional lending sources. We have
traditionally raised our operating capital from the sale of equity securities
but there can be no assurance that we will continue to be able to do so. If we
cannot raise the money that we need in order to continue to operate our
business, we will be forced to delay, scale back or eliminate some or all of our
proposed operations. If any of these were to occur, there is a substantial risk
that our business would fail.

These circumstances raise substantial doubt about our ability
to continue as a going concern, as described in the explanatory paragraph to our
independent auditors report on our financial statements for the year ended
February 28, 2009, which are included in our annual report on Form 10-K filed on
May 22, 2009. Although our financial statements raise substantial doubt about
our ability to continue as a going concern, they do not reflect any adjustments
that might result if we are unable to continue our business. Our financial
statements contain additional note disclosure describing the circumstances that
lead to this disclosure by our independent auditors.

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26

We are an exploration stage company with a limited operating
history, which may hinder our ability to successfully meet our
objectives.

We are an exploration stage company with only a limited
operating history upon which to base an evaluation of our current business and
future prospects. We have only recently transitioned our company to the oil and
gas business and we do not own any oil or gas properties, nor do we have an
established history of locating and developing properties that have oil and gas
reserves. As a result, the revenue and income potential of our business is
unproved. In addition, because of our limited operating history, we have limited
insight into trends that may emerge and affect our business. Errors may be made
in predicting and reacting to relevant business trends and we will be subject to
the risks, uncertainties and difficulties frequently encountered by early-stage
companies in evolving markets. We may not be able to successfully address any or
all of these risks and uncertainties. Failure to adequately do so could cause
our business, results of operations and financial condition to suffer.

Our only director and executive officer is employed
elsewhere and his time and effort will not be devoted to our company
full-time.

Our sole director and officer works for our company on an
as-needed basis and he is employed in other positions with other companies. As
a result, our company is and will continue to be managed on a part-time basis
unless and until we can identify and hire additional skilled management
personnel. Our business could be adversely impacted by the lack of full time
management.

Because our sole director and officer is not a resident of
the United States, investors may find it difficult to enforce, within the United
States, any judgments obtained against our sole director and officer.

Our sole director and officer is not a resident of the United
States, and all or a substantial portion of his assets are located outside the
United States. As a result, it may be difficult for investors to enforce within
the United States any judgments obtained against our sole officer and director,
including judgments predicated upon the civil liability provisions of the
securities laws of the United States or any state thereof.

If we are unable to successfully recruit qualified
managerial and field personnel having experience in oil and gas exploration, we
may not be able to continue our operations.

In order to successfully implement and manage our business
plan, we will depend upon, among other things, successfully recruiting qualified
managerial and field personnel having experience in the oil and gas exploration
business. Competition for qualified individuals is intense. We may not be able
to find, attract and retain qualified personnel on acceptable terms. If we are
unable to find, attract and retain qualified personnel with technical expertise,
our business operations could suffer.

Future growth could strain our resources, and if we are
unable to manage our growth, we may not be able to successfully implement our
business plan.

We hope to experience rapid growth in our operations, which
will place a significant strain on our management, administrative, operational
and financial infrastructure. Our future success will depend in part upon the
ability of our executive officers to manage growth effectively. This will
require that we hire and train additional personnel to manage our expanding
operations. In addition, we must continue to improve our operational, financial
and management controls and our reporting systems and procedures. If we fail to
successfully manage our growth, we may be unable to execute upon our business
plan.

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27

Risks Relating to our Business and the Oil and Gas
Industry

The oil and gas industry is highly competitive and there can
be no assurance that we will be able to compete effectively.

The oil and gas industry is highly competitive. Although we do
not believe that we will compete with other oil and gas companies for the sale
of any oil and gas that we may produce, as there is sufficient demand in the
world market for these products, we will compete with other oil and natural gas
companies and other individuals for desirable oil and natural gas leases,
drilling equipment, personnel and funds. Many of the companies that we will
compete with have longer operating histories and substantially greater financial
and other resources than we do. These larger or more experienced competitors may
be able to more easily access capital markets than we can and may enjoy a
competitive advantage in the recruitment of qualified personnel. They may be
able to absorb the burden of any changes in laws and regulation in the
jurisdictions in which we do business and handle longer periods of reduced
prices for oil and gas more easily than we can. Our competitors may be able to
pay more for oil and gas leases and properties and may be able to define,
evaluate, bid for and purchase a greater number of leases and properties than we
can. Further, these companies may enjoy technological advantages and may be able
to implement new technologies more rapidly than we can. Our ability to acquire
additional properties in the future will depend upon our ability to conduct
efficient operations, evaluate and select suitable properties, implement
advanced technologies and consummate transactions in a highly competitive
environment. If we cannot compete, our business will fail and you could lose
your entire investment.

There can be no assurance that we will identify and acquire
an oil and natural gas exploration property. Even if we do acquire such a
property, there can be no assurance that we will discover oil or natural gas in
any commercial quantity thereon.

Exploration for economic reserves of oil and natural gas is
subject to a number of risks. Even if we are able to acquire an oil or natural
gas exploration property, few properties that are explored are ultimately
developed into producing oil and/or natural gas wells. If we cannot acquire one
or more oil or natural gas opportunities and discover or develop oil or natural
gas in any commercial quantity thereon, our business will fail.

Oil and natural gas operations are subject to comprehensive
regulation which may cause substantial delays or require capital outlays in
excess of those anticipated.

Oil and natural gas operations are subject to federal, state,
and local laws relating to the protection of the environment, including laws
regulating removal of natural resources from the ground and the discharge of
materials into the environment. Oil and natural gas operations are also subject
to federal, state, and local laws and regulations which seek to maintain health
and safety standards by regulating the design and use of drilling methods and
equipment. Various permits from government bodies are required for drilling
operations to be conducted; no assurance can be given that standards imposed by
federal, provincial, or local authorities may be changed and any such changes
may have material adverse effects on our proposed activities. Moreover,
compliance with such laws may cause substantial delays or require capital
outlays in excess of those anticipated, which could have an adverse effect on
us. Additionally, we may be subject to liability for pollution or other
environmental damages. To date, we have not been required to spend any money on
compliance with environmental regulations. However, we may be required to do so
in the future and this may affect our ability to begin, expand or maintain our
operations.

Exploratory drilling involves many risks and we may become
liable for pollution or other liabilities which may have an adverse effect on
our financial position.

Drilling operations generally involve a high degree of risk.
Hazards such as unusual or unexpected geological formations, power outages,
labor disruptions, blow-outs, sour natural gas leakage, fire, inability to
obtain suitable or adequate machinery, equipment or labor, and other risks are
involved. We may become subject to liability for pollution or hazards against
which we cannot adequately insure or which we may elect not to insure. Incurring
any such liability may have a material adverse effect on our financial position
and operations.

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28

Even if we acquire an oil and natural gas exploration
property and establish that it contains oil or natural gas in commercially
exploitable quantities, the potential profitability of oil and natural gas
ventures depends upon factors beyond the control of our company.

Even if we are able to acquire an oil or gas property and
establish the presence of any oil or gas reserves, our ability to produce and
market oil and gas will be subject to:

- the availability of adequate pipeline transmission facilities or carrying
  capacity;
- government regulation of natural gas and oil production;
- government transportation, tax and energy policies;
- changes in supply and demand; and
- general economic conditions.

Our future performance is dependent upon our ability to
identify, acquire and develop oil and gas properties, the failure of which could
result in under use of capital and losses.

Our future performance depends upon our ability to identify,
acquire and develop oil and gas reserves that are economically recoverable. Our
success will depend upon our ability to acquire working and revenue interests in
properties upon which oil and gas reserves are ultimately discovered in
commercial quantities, and our ability to develop prospects that contain proven
oil and gas reserves to the point of production. Without successful acquisition
and exploration activities, we will not be able to develop oil and gas reserves
or generate revenues. We cannot provide you with any assurance that we will be
able to identify and acquire oil and gas reserves on acceptable terms, or that
oil and gas deposits will be discovered in sufficient quantities to enable us to
recover our exploration and development costs or sustain our business.

Exploratory drilling involves many risks that are outside
our control which may result in a material adverse effect on our business,
financial condition or results of operations.

The business of exploring for and producing oil and gas
involves a substantial risk of investment loss. Drilling oil and gas wells
involves the risk that the wells may be unproductive or that, although
productive, the wells may not produce oil or gas in economic quantities. Other
hazards, such as unusual or unexpected geological formations, pressures, fires,
blowouts, power outages, sour gas leakage, loss of circulation of drilling
fluids or other conditions may substantially delay or prevent completion of any
well. Adverse weather conditions can also hinder drilling operations. A
productive well may become uneconomic if water or other deleterious substances
are encountered that impair or prevent the production of oil or gas from the
well. In addition, production from any well may be unmarketable if it is
impregnated with water or other deleterious substances. Therefore, even if we
acquire an oil or gas property or interest, there can be no assurance that we
will be able to produce any oil or gas.

Risks Relating to Our Common Stock

If we issue additional shares in the future, it will result
in the dilution of our existing shareholders.

Our articles of incorporation authorize the issuance of up to
150,000,000 shares of common stock with a par value of $0.0001 per share. Our
board of directors may choose to issue some or all of such shares to acquire one
or more properties, to fund our proposed exploration programs and to fund our
overhead and general operating requirements. The issuance of any such shares
will reduce the book value per share and may contribute to a reduction in the
market price of the outstanding shares of our common stock. If we issue any such
additional shares, such issuance will reduce the proportionate ownership and
voting power of all current shareholders. Further, such issuance may result in a
change of control of our corporation.

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29

Trading of our stock is restricted by the Securities
Exchange Commission's penny stock regulations, which may limit a stockholder's
ability to buy and sell our common stock.

The Securities and Exchange Commission has adopted regulations
which generally define penny stock to be any equity security that has a market
price (as defined) less than $5.00 per share or an exercise price of less than
$5.00 per share, subject to certain exceptions. Our securities are covered by
the penny stock rules, which impose additional sales practice requirements on
broker-dealers who sell to persons other than established customers and
accredited investors. The term accredited investor refers generally to
institutions with assets in excess of $5,000,000 or individuals with a net worth
in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly
with their spouse. The penny stock rules require a broker-dealer, prior to a
transaction in a penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document in a form prepared by the Securities and
Exchange Commission, which provides information about penny stocks and the
nature and level of risks in the penny stock market. The broker-dealer also must
provide the customer with current bid and offer quotations for the penny stock,
the compensation of the broker-dealer and its salesperson in the transaction and
monthly account statements showing the market value of each penny stock held in
the customer's account. The bid and offer quotations, and the broker-dealer and
salesperson compensation information, must be given to the customer orally or in
writing prior to effecting the transaction and must be given to the customer in
writing before or with the customer's confirmation. In addition, the penny stock
rules require that prior to a transaction in a penny stock not otherwise exempt
from these rules, the broker-dealer must make a special written determination
that the penny stock is a suitable investment for the purchaser and receive the
purchaser's written agreement to the transaction. These disclosure requirements
may have the effect of reducing the level of trading activity in the secondary
market for the stock that is subject to these penny stock rules. Consequently,
these penny stock rules may affect the ability of broker-dealers to trade our
securities. We believe that the penny stock rules discourage investor interest
in and limit the marketability of our common stock.

FINRA sales practice requirements may also limit a
stockholder's ability to buy and sell our stock.

In addition to the penny stock rules described above, the
Financial Industry Regulatory Authority (known as FINRA) has adopted rules
that require that in recommending an investment to a customer, a broker-dealer
must have reasonable grounds for believing that the investment is suitable for
that customer. Prior to recommending speculative low priced securities to their
non-institutional customers, broker-dealers must make reasonable efforts to
obtain information about the customers financial status, tax status, investment
objectives and other information. Under interpretations of these rules, FINRA
believes that there is a high probability that speculative low priced securities
will not be suitable for at least some customers. FINRA requirements make it
more difficult for broker-dealers to recommend that their customers buy our
common stock, which may limit your ability to buy and sell our stock and have an
adverse effect on the market for our shares.

Our common stock is illiquid and the price of our common
stock may be negatively impacted by factors which are unrelated to our
operations.

Although our common stock is currently listed for quotation on
the OTC Bulletin Board, none of our shares have yet been purchased or sold on
that market. Even when a market is established and trading begins, trading
through the OTC Bulletin Board is frequently thin and highly volatile. There is
no assurance that a sufficient market will develop in our stock, in which case
it could be difficult for shareholders to sell their stock. The market price of
our common stock could fluctuate substantially due to a variety of factors,
including market perception of our ability to achieve our planned growth,
quarterly operating results of our competitors, trading volume in our common
stock, changes in general conditions in the economy and the financial markets or
other developments affecting our competitors or us. In addition, the stock
market is subject to extreme price and volume fluctuations. This volatility has
had a significant effect on the market price of securities issued by many
companies for reasons unrelated to their operating performance and could have
the same effect on our common stock.

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30

We do not intend to pay dividends on any investment in the
shares of stock of our company.

We have never paid any cash dividends and currently do not
intend to pay any dividends for the foreseeable future. Because we do not intend
to declare dividends, any gain on an investment in our company will need to come
through an increase in the stocks price. This may never happen and investors
may lose all of their investment in our company.

|ITEM 2. | UNREGISTERED SALES OF EQUITY
      SECURITIES AND USE OF PROCEEDS
|------- | -----------------------------------------------------------------

None

|ITEM 3. | DEFAULTS UPON SENIOR
      SECURITIES
|------- | -------------------------------------

None

|ITEM 4. | SUBMISSION OF MATTERS TO A
      VOTE OF SECURITY HOLDERS
|------- | ---------------------------------------------------------

None

|ITEM 5. | OTHER INFORMATION
|------- | -----------------

None

|ITEM 6. | EXHIBITS
|------- | --------

Exhibits required by Item 601 of Regulation S-K:

ExhibitNo.
    Description3.1
    Articles of Incorporation
      (attached as an exhibit to our registration statement on Form 10-SB filed
      on September 8, 2006)3.2
    By-laws (attached as an exhibit
    to our registration statement on Form 10-SB filed on September 8, 2006)3.3
    Certificate of Change (attached
      as an exhibit to our current report on Form 8-K filed on September 15,
      2008)10.1
    Option Agreement (attached as an
      exhibit to our registration statement on Form 10-SB filed on September 8,
      2006)10.2
    Geological Summary Report
      (attached as an exhibit to our registration statement on Form 10-SB filed
      on September 8, 2006)10.3
    Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on November 6, 2008)10.4
    Form of Private Placement
      Subscription Agreement dated June 15, 2009 (attached as an exhibit to our
      quarterly report on Form 10-Q filed on June 16, 2009)10.5
    Form of promissory note dated
      June 15, 2009 (attached as an exhibit to our quarterly report on Form 10-
      Q filed on June 16, 2009)31.1*
    Certification Pursuant to Section
      302 of the Sarbanes-Oxley Act Of 200232.1*
    Certification Pursuant to Section
      906 of the Sarbanes-Oxley Act Of 2002


* Filed herewith.

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31

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

|STRIKER ENERGY CORP                       | 
|----------------------------------------- | 
|                                          | 
|                                          | 
|                                          | 
|/s/ Joseph
      Carusone                 | 
|Joseph Carusone,                          | 
|President, CEO, CFO, Secretary, Treasurer | 
|and Director                              | 
|(Principal Executive Officer,             | 
|Principal Financial Officer and           | 
|Principal Accounting Officer)             | 
|                                          | 
|Date: January 14, 2010                    | 

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