---

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 August 31, 2009or

[   ] 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 incorporation or
      organization) | (I.R.S. Employer 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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- ii -

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 October 14,
2009.

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- iii -

TABLE OF CONTENTS

|PART IFINANCIAL INFORMATION | 4                                                                                          
|---------------------------- | -------------------------------------------------------------------------------------------
|Item 1.                      | Financial Statements                                                                       
|Item 2.                      | Managements Discussion and Analysis of Financial Condition
      and Results of Operations
|Item 3.                      | Quantitative and Qualitative Disclosures about Market Risk                                 
|Item 4T.                     | Controls and Procedures                                                                    
|PART IIOTHER INFORMATION    | 26                                                                                         
|Item 1.                      | Legal Proceedings                                                                          
|Item 1A.                     | Risk Factors                                                                               
|Item 2.                      | Unregistered Sales of Equity Securities and Use of Proceeds                                
|Item 3.                      | Defaults Upon Senior Securities                                                            
|Item 4.                      | Submission of Matters to a Vote of Security Holders                                        
|Item 5.                      | Other Information                                                                          
|Item 6.                      | Exhibits                                                                                   
|SIGNATURES                   | 35                                                                                         

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- 4 -

PART IFINANCIAL INFORMATION

Item
1.           Financial
Statements















Striker Energy Corp.(An Exploration Stage Company)

Financial Statements (Expressed in U.S.
Dollars) (Unaudited)31 August 2009

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- 5 -

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


|                                                                     |  |           |   |  | As at       |  
|-------------------------------------------------------------------- |  | --------- | - |  | ----------- | -
|                                                                     |  | As at     |   |  | 28 February |  
|                                                                     |  | 31 August |   |  | 2009        |  
|                                                                     |  | 2009      |   |  | (Audited)   |  
|                                                                     |  | $         |   |  | $           |  
|                                                                     |  |           |   |  |             |  
|Assets                                                               |  |           |   |  |             |  
|                                                                     |  |           |   |  |             |  
|Current                                                              |  |           |   |  |             |  
|Cash and cash equivalents                                            |  | 24,855    |   |  | 2,448       |  
|                                                                     |  |           |   |  |             |  
|Liabilities                                                          |  |           |   |  |             |  
|                                                                     |  |           |   |  |             |  
|Current                                                              |  |           |   |  |             |  
|Accounts payable and accrued liabilities
      (Note 0)              |  | 2,729     |   |  | 8,035       |  
|Due to related party (Note 6)                                        |  | -         |   |  | 1,128       |  
|                                                                     |  |           |   |  |             |  
|                                                                     |  | 2,729     |   |  | 9,163       |  
|                                                                     |  |           |   |  |             |  
|Promissory note(Note 5)                                              |  | 50,527    |   |  | -           |  
|                                                                     |  |           |   |  |             |  
|                                                                     |  | 53,256    |   |  | 9,163       |  
|                                                                     |  |           |   |  |             |  
|Stockholders deficiency                                             |  |           |   |  |             |  
|Capital stock(Note 8)                                                |  |           |   |  |             |  
|Authorized                                                           |  |           |   |  |             |  
|150,000,000 common
      shares, par value $0.0001                   |  |           |   |  |             |  
|Issued and outstanding                                               |  |           |   |  |             |  
|31 August 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                                           |  | 189,924   |   |  | 182,724     |  
|Deficit, accumulated during the exploration stage                    |  | (220,381  | ) |  | (191,495    | )
|                                                                     |  |           |   |  |             |  
|                                                                     |  | (28,401   | ) |  | (6,715      | )
|                                                                     |  |           |   |  |             |  
|                                                                     |  | 24,855    |   |  | 2,448       |  

Nature and Continuance of Operations(Note 1)

On behalf of the Board:

|Joseph
      Carusone | Director
|----------------------- | --------
|Joseph Carusone         |         

The accompanying notes are an integral part of these financial statements

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- 6 -

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


|                                         | For the      |   |              |   |              |   |              |   |              |  
|---------------------------------------- | ------------ | - | ------------ | - | ------------ | - | ------------ | - | ------------ | -
|                                         | period from  |   |              |   |              |   |              |   |              |  
|                                         | the date of  |   | For the      |   | For the      |   | For the      |   | For the      |  
|                                         | inception on |   | three month  |   | three month  |   | six month    |   | six month    |  
|                                         | 18 March     |   | period ended |   | period ended |   | period ended |   | period ended |  
|                                         | 2005 to 31   |   | 31 August    |   | 31 August    |   | 31 August    |   | 31 August    |  
|                                         | August 2009  |   | 2009         |   | 2008         |   | 2009         |   | 2008         |  
|                                         | $            |   | $            |   | $            |   | $            |   | $            |  
|                                         |              |   |              |   |              |   |              |   |              |  
|Expenses                                 |              |   |              |   |              |   |              |   |              |  
|Bank charges and interest (Note 5)       | 1,732        |   | 619          |   | 18           |   | 699          |   | 35           |  
|Consulting fees                          | 10,176       |   | -            |   | -            |   | -            |   | -            |  
|Filing fees                              | 8,244        |   | 529          |   | -            |   | 1,391        |   | 1,000        |  
|Investor relations                       | 730          |   | -            |   | -            |   | -            |   | -            |  
|Legal and accounting fees                | 109,466      |   | 12,609       |   | 5,709        |   | 17,828       |   | 9,532        |  
|Licenses and permits                     | 8,068        |   | -            |   | -            |   | -            |   | 125          |  
|Management fees (Notes 7, 8 and          |              |   |              |   |              |   |              |   |              |  
|10)                                      | 39,000       |   | 3,000        |   | 3,000        |   | 6,000        |   | 6,000        |  
|Mineral property expenditures            | 15,124       |   | -            |   | -            |   | -            |   | -            |  
|Office expenses                          | 616          |   | -            |   | 23           |   | 43           |   | 145          |  
|Recovery from mineral property           |              |   |              |   |              |   |              |   |              |  
|acquisition costs (Notes 3 and 10)       | (5,000       | ) | -            |   | (5,000       | ) | -            |   | (5,000       | )
|Rent (Notes 7, 8 and 10)                 | 9,000        |   | 600          |   | 600          |   | 1,200        |   | 1,200        |  
|Transfer agent fees                      | 11,386       |   | 825          |   | 675          |   | 1,725        |   | 1,587        |  
|Web site development                     | 1,839        |   | -            |   | -            |   | -            |   | -            |  
|Write down of mineral property           |              |   |              |   |              |   |              |   |              |  
|acquisition costs (Note 3)               | 10,000       |   | -            |   | -            |   | -            |   | -            |  
|                                         |              |   |              |   |              |   |              |   |              |  
|Net loss for the period                  | (220,381     | ) | (18,182      | ) | (5,025       | ) | (28,886      | ) | (14,624      | )
|                                         |              |   |              |   |              |   |              |   |              |  
|Basic and diluted loss per               |              |   |              |   |              |   |              |   |              |  
|common share                             |              |   | (0.001       | ) | (0.001       | ) | (0.001       | ) | (0.001       | )
|                                         |              |   |              |   |              |   |              |   |              |  
|Weighted average number of common shares |              |   |              |   |              |   |              |   |             
|used in per share calculations           |              |   | 20,506,000   |   | 20,006,000   |   | 20,506,000   |   | 20,006,000   |  

The accompanying notes are an integral part of these financial statements

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- 7 -

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


|                                                        | For the period |   |               |   |               |   | For the six |   | For the six |  
|------------------------------------------------------- | -------------- | - | ------------- | - | ------------- | - | ----------- | - | ----------- | -
|                                                        | from the date  |   | For the three |   | For the three |   | month       |   | month       |  
|                                                        | of inception   |   | month         |   | month         |   | period      |   | period      |  
|                                                        | on 18 March    |   | period ended  |   | period ended  |   | ended 31    |   | ended 31    |  
|                                                        | 2005 to 31     |   | 31 August     |   | 31 August     |   | August      |   | August      |  
|                                                        | August 2009    |   | 2009          |   | 2008          |   | 2009        |   | 2008        |  
|                                                        | $              |   | $             |   | $             |   | $           |   | $           |  
|Cash flows used in operating
      activities           |                |   |               |   |               |   |             |   |             |  
|Net loss for the period                                 | (220,381       | ) | (18,182       | ) | (5,025        | ) | (28,886     | ) | (14,624     | )
|Adjustments to reconcile loss
      to net cash used    |                |   |               |   |               |   |             |   |             |  
|by operating activities                                 |                |   |               |   |               |   |             |   |             |  
|Contributions to
      capital by related party        |                |   |               |   |               |   |             |   |             |  
|expenses (Notes 7, 8 and 10)                            | 48,000         |   | 3,600         |   | 3,600         |   | 7,200       |   | 7,200       |  
|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                                        | 527            |   | 527           |   | -             |   | 527         |   | -           |  
|Recovery from mineral property
      acquisition        |                |   |               |   |               |   |             |   |             |  
|cost (Notes 3
      and 10)                             | (5,000         | ) | -             |   | (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                                     | 7,729          |   | (9,760        | ) | 4,329         |   | (5,306      | ) | 7,271       |  
|                                                        |                |   |               |   |               |   |             |   |             |  
|                                                        | (120,145       | ) | (23,815       | ) | (2,096        | ) | (26,465     | ) | (5,153      | )
|Cash flows from financing activities                    |                |   |               |   |               |   |             |   |             |  
|Increase (decrease) in due to related party (Notes      |                |   |               |   |               |   |             |   |             |  
|7 and 8)                                                | -              |   | (1,775        | ) | 2,078         |   | (1,128      | ) | 5,123       |  
|Promissory note (Note 5)                                | 50,000         |   | 50,000        |   | -             |   | 50,000      |   | -           |  
|Common shares returned to treasury (Notes 8
      and   |                |   |               |   |               |   |             |   |             |  
|10)                                                     | (5,000         | ) | -             |   | -             |   | -           |   | -           |  
|Common shares issued for cash (Note 8)                  | 110,000        |   | -             |   | -             |   | -           |   | -           |  
|                                                        |                |   |               |   |               |   |             |   |             |  
|                                                        | 155,000        |   | 48,225        |   | 2,078         |   | 48,872      |   | 5,123       |  
|Cash flows from investing activities                    |                |   |               |   |               |   |             |   |             |  
|Acquisition of mineral property interest
      (Note 3) | (10,000        | ) | -             |   | -             |   | -           |   | -           |  
|                                                        |                |   |               |   |               |   |             |   |             |  
|Increase (decrease) in cash                             | 24,855         |   | 24,410        |   | (18           | ) | 22,407      |   | (30         | )
|                                                        |                |   |               |   |               |   |             |   |             |  
|Cash and cash equivalents, beginning of
      period    | -              |   | 445           |   | 240           |   | 2,448       |   | 252         |  
|                                                        |                |   |               |   |               |   |             |   |             |  
|Cash and cash equivalents, end of
      period          | 24,855         |   | 24,855        |   | 222           |   | 24,855      |   | 222         |  

The accompanying notes are an integral part of these financial statements

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- 8 -

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)                    | -             |   | -       |   | 7,200      |   | -           |   | 7,200         |  
|Net loss for the period                           | -             |   | -       |   | -          |   | (28,886     | ) | (28,886       | )
|                                                  |               |   |         |   |            |   |             |   |               |  
|Balance at 31 August 2009                         | 20,506,000    |   | 2,056   |   | 189,924    |   | (220,381    | ) | (28,401       | )

The accompanying notes are an integral part of these financial statements

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- 9 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August
      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 company, as defined
      in Financial Accounting Standards Board (FASB) Statement of Financial
      Accounting Standards (SFAS) No. 7 Accounting and Reporting by
      Development Stage Enterprises, and Industry Guide 7 of the Securities
      and Exchange Commission Industry Guide. The Company is devoting all of its
      present efforts in securing and establishing a 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 31 August 2009
      and for the six month period ended 31 August 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 has a loss of $28,886 for the six month period ended
      31 August 2009 (31 August 2008  $14,624, cumulative  $220,381) and has
      working capital of $22,126 at 31 August 2009 (28 February 2009  working
      capital deficit of $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 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 31 August 2009, the
      Companys assets consisted of cash and cash equivalents in the amount of
      $24,855. 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.

---

- 10 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


|   | As at 31 August 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.

---

- 11 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 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

In accordance with SFAS No. 144,
Accounting for Impairment or Disposal of Long-Lived Assets, the
carrying value of long-lived assets is reviewed on a regular basis for the
existence of facts or circumstance that may suggest impairment. The Company
recognizes an impairment when the sum of the expected undiscounted future cash
flows is less than the carrying amount of the asset. Impairment losses, if any,
are measured as the excess of the carrying amount of the asset over its
estimated fair value.

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.

---

- 12 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


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 SFAS
No. 109, Accounting for 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 loss 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 loss per share
in accordance with SFAS No. 128, Earnings per Share. SFAS No. 128
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 loss
available to common shareholders (numerator) by the weighted average number of
shares outstanding (denominator) during the period. Diluted EPS gives effect to
all potentially dilutive 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 excludes all potentially dilutive shares
if their effect is anti-dilutive.

Comprehensive loss

SFAS No. 130, Reporting
Comprehensive Income, establishes standards for the reporting and display
of comprehensive loss and its components in the financial statements. As at 31
August 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.

Segments of an enterprise and
related information

SFAS No. 131, Disclosures about
Segments of an Enterprise and Related Information, supersedes SFAS No. 14,
Financial Reporting for Segments of a Business Enterprise. SFAS No. 131
establishes standards 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. SFAS No. 131
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 SFAS and does not believe it is
applicable at this time.

---

- 13 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


Start-up expenses

The Company has adopted Statement of
Position No. 98-5, Reporting the Costs of Start-up Activities, 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 31 August 2009.

Foreign currency translation

The Companys functional and reporting
currency is in U.S. dollars. The financial statements of the Company are
translated to U.S. dollars in accordance with SFAS No. 52, Foreign Currency
Translation. 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.

Recent accounting pronouncements

In May 2008, FASB issued SFAS No. 163,
Accounting for Financial Guarantee Insurance Contracts  an interpretation
of FASB Statement No. 60. SFAS No. 163 provides enhanced guidance on the
recognition and measurement to be used to account for premium revenue and claim
liabilities and related disclosures and is limited to financial guarantee
insurance (and reinsurance) contracts, issued by enterprises included within the
scope of FASB Statement No. 60, Accounting and Reporting by Insurance
Enterprises. SFAS No. 163 also requires that an insurance enterprise
recognize a claim liability prior to an event of default when there is evidence
that credit deterioration has occurred in an insured financial obligation. SFAS
No. 163 is effective for financial statements issued for fiscal years and
interim periods beginning after 15 December 2008, with early application not
permitted. The adoption of SFAS No. 163 did not have an 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)31 August 2009


In May 2008, the FASB issued SFAS No.
162, The Hierarchy of Generally Accepted Accounting Principles. SFAS
No. 162 is intended to improve financial reporting by identifying a consistent
framework, or hierarchy, for selecting accounting principles to be used in
preparing financial statements that are presented in conformity with GAAP for
nongovernmental entities. Prior to the issuance of SFAS No. 162, GAAP hierarchy
was defined in the American Institute of Certified Public Accountants (AICPA)
Statement on Auditing Standards (SAS) No. 69, The Meaning of Present
Fairly in Conformity with Generally Accepted Accounting Principles. SAS No.
69 has been criticized because it is directed to the auditor rather than the
entity. SFAS No. 162 addresses these issues by establishing that the GAAP
hierarchy should be directed to entities because it is the entity, not its
auditor, that is responsible for selecting accounting principles for financial
statements that are presented in conformity with GAAP. SFAS No. 162 is effective
60 days following the SECs approval of the Public Company Accounting Oversight
Board Auditing amendments to AU Section 411, The Meaning of Present Fairly
in Conformity with Generally Accepted Accounting Principles. The Company
does not expect SFAS No. 162 to have a material effect on its financial
statements.

In March 2008, the FASB issued SFAS No.
161, Disclosures about Derivative Instruments and Hedging Activities  an
amendment of FASB Statement No. 133. SFAS No. 161 is intended to improve
transparency in financial reporting by requiring enhanced disclosures of an
entitys derivative instruments and hedging activities and their effects on the
entitys financial position, financial performance, and cash flows. SFAS No. 161
applies to all derivate instruments within the scope of SFAS No. 133,
Accounting for Derivative Instruments and Hedging Activities. It also
applies to non-derivative hedging instruments and all hedged items designated
and qualifying as hedges under SFAS No. 133. SFAS No. 161 is effective
prospectively for financial statements issued for fiscal years beginning after
15 November 2008, with early application encouraged. The adoption of SFAS No.
161 did not have an impact on the Companys financial statements.

In December 2007, the FASB issued SFAS
No. 141 (revised 2007), Business Combinations. SFAS No. 141(R)
establishes principles and requirements for how an acquirer recognizes and
measures in its financial statements the identifiable assets acquired, the
liabilities assumed, any noncontrolling interest in the acquiree and the
goodwill acquired. SFAS No. 141(R) also establishes disclosure requirements to
enable the evaluation of the nature and financial effects of the business
combination. SFAS No. 141(R) is effective for fiscal years beginning after 15
December 2008. The adoption of SFAS No. 141(R) did not have an impact on the
Companys results of operation and financial condition.

In December 2007, the FASB issued SFAS
No. 160, Noncontrolling Interests in Consolidated Financial Statements  an
amendment of Accounting Research Bulletin No. 51. SFAS No. 160 establishes
accounting and reporting standards for ownership interests in subsidiaries held
by parties other than the parent, the amount of consolidated net income
attributable and to the noncontrolling interest, changes in a parents ownership
interest, and the valuation of retained noncontrolling equity investments when a
subsidiary is deconsolidated. SFAS No. 160 also establishes disclosure
requirements that clearly identify and distinguish between the interests of the
parent and the interests of the noncontrolling owners. SFAS No. 160 is effective
for fiscal years beginning after 15 December 2008. The adoption of SFAS No. 160
did not have an impact on the Companys results of operation and financial
condition.

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- 15 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


|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 six month period ended 31 August 2009, the Company accrued interest expense of $527. The balance as at 31 August 2009 consists of principal and accrued
interest of $50,000 (28 February 2009  $Nil) and $527 (31 August 2008  $Nil, cumulative - $Nil), respectively.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|6. | Due to Related Party                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | The amount due to related parties at 31 August 2009 was $Nil (28 February 2009  $1,128). During the six month period ended 31 August 2009, the Company repaid $1,775 owed to an officer and director of the Company
(Note 7).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|7. | Related Party Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | During the six month period ended 31 August 2009, an officer and director of the Company made contributions to capital for management fees in the amount of $6,000 (31 August 2008  $6,000, cumulative 
$39,000) and for rent in the amount of $1,200 (31 August 2008  $1,200, cumulative  $9,000) (Notes 8 and 10).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

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- 16 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


|   | During the six month period ended 31 August 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).                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   | 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).

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- 17 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


|   | 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 six month period ended 31 August 2009, an
      officer and director of the Company made contributions to capital for
      management fees in the amount of $6,000 (31 August 2008  $6,000,
      cumulative  $39,000) and for rent in the amount of $1,200 (31 August 2008
       $1,200, cumulative  $9,000) (Notes 7 and 10).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|9. | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | The Company has losses carried forward for income tax
      purposes to 31 August 2009. There are no current or deferred tax expenses
      for the period ended 31 August 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      |  
| | --------------------------------------------------- |  | ------------ | - |  | ------------ | -
| |                                                     |  | six month    |   |  | six month    |  
| |                                                     |  | period ended |   |  | period ended |  
| |                                                     |  | 31 August    |   |  | 31 August    |  
| |                                                     |  | 2009         |   |  | 2008         |  
| |                                                     |  | $            |   |  | $            |  
| |                                                     |  |              |   |  |              |  
| | Refundable federal tax asset attributable
      to: |  |              |   |  |              |  
| | Current operations                                  |  | 9,821        |   |  | 4,972        |  
| | Contributions to capital by related party           |  | (2,448       | ) |  | (2,448       | )
| | Less: Change in valuation allowance                 |  | (7,373       | ) |  | (2,524       | )
| |                                                     |  |              |   |  |              |  
| | Net refundable amount                               |  | -            |   |  | -            |  

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- 18 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 2009


The composition of the Companys
deferred tax assets as at 31 August 2009 and 28 February 2009 is as follows:

| |                                   |  |          |   |  | As at       |  
| | --------------------------------- |  | -------- | - |  | ----------- | -
| |                                   |  | As at 31 |   |  | 28 February |  
| |                                   |  | August   |   |  | 2009        |  
| |                                   |  | 2009     |   |  | (Audited)   |  
| |                                   |  | $        |   |  | $           |  
| |                                   |  |          |   |  |             |  
| | Net operating loss carryforward   |  | 133,401  |   |  | 111,715     |  
| |                                   |  |          |   |  |             |  
| | Statutory federal income tax rate |  | 34%      |   |  | 34%         |  
| | Effective income tax rate         |  | 0%       |   |  | 0%          |  
| |                                   |  |          |   |  |             |  
| | Deferred tax asset                |  | 45,356   |   |  | 37,983      |  
| | Less: Valuation allowance         |  | (45,356  | ) |  | (37,983     | )
| |                                   |  |          |   |  |             |  
| | Net deferred tax asset            |  | -        |   |  | -           |  

|    | The potential income tax benefit of these losses has been
      offset by a full valuation allowance.                                                                                                                                                             
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                   
|    | As at 31 August 2009, the Company has an unused net
      operating loss carry forward balance of approximately $133,401 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 the date   |  |  | For the      |  |  | For the      | 
| |                                          |  | of inception on |  |  | six month    |  |  | six month    | 
| |                                          |  | 18 March        |  |  | period ended |  |  | period ended | 
| |                                          |  | 2005 to 31      |  |  | 31 August    |  |  | 31 August    | 
| |                                          |  | August 2009     |  |  | 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).

---

- 19 -

Striker Energy Corp.(An Exploration Stage Company)Notes to Financial Statements(Expressed in U.S. Dollars)(Unaudited)31 August 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 six month period ended 31
August 2009, an officer and director of the Company made contributions to
capital for management fees in the amount of $6,000 (31 August 2008  $6,000,
cumulative  $39,000) and for rent in the amount of $1,200 (31 August 2008 
$1,200, cumulative  $9,000) (Notes 7 and 8).

---

- 20 -

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 27 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.

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- 21 -

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.

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. Although the recent decline in the price
of oil and gas represents a reversal of this trend, we believe that the trend
towards increasing prices for energy will eventually be reinstated. 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.

---

- 22 -

Liquidity and Capital Resources

Our financial condition for the three and six month periods
ended August 31, 2009 and 2008 and as of August 31, 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

August 31,
    
    
    February 28,2009
    
    
    2009Current Assets
    $
    24,855
    
    $
    2,448Current Liabilities
    
    2,729
    
    
    9,163Working Capital
    $
    22,126
    
    $
    (6,715
    )


As of August 31, 2009 our working capital increased by $28,841
due to the issuance of a $50,000, 5% promissory note due on June 15, 2011. We
have incurred recurring losses from inception. Our ability to meet our financial
obligations and commitments is primarily dependent upon continued financial
support of our shareholders, directors and the continued issuance of equity to
new and existing shareholders.

|                                |   | Three Months Ended August 31 |   |   | Six Months Ended August 31 |  
|------------------------------- | - | ---------------------------- | - | - | -------------------------- | -
|                                |   | 2009                         |   |   | 2008                       |  
|Cash flow used in operating     | $ | (23,815                      | ) | $ | (2,096                     | )
|activities                      |   |                              |   |   |                            |  
|Cash flow provided by financing |   | 48,225                       |   |   | 2,078                      |  
|activities                      |   |                              |   |   |                            |  
|Cash provided by investing      |   | -                            |   |   | -                          |  
|activities                      |   |                              |   |   |                            |  
|Net decrease in cash            |   | 24,410                       |   | $ | (18                        | )

Cash flow used in operating activities

Our cash used in operating activities for the three months
ended August 31, 2009 compared to our cash used in operating activities for the
three months ended August 31, 2008 increased by $21,719 largely due to payments
made against accounts payable of $14,089 and increased operating losses of
$13,157 partly offset by a $5,000 onetime recovery in 2008 of mineral property
acquisition costs.

Our cash used in operating activities for the six months ended
August 31, 2009 compared to our cash used in operating activities for the six
months ended August 31, 2008 increased by $21,312 largely due to payments made
against accounts payable of $12,577 and increased operating losses of $14,262
partly offset by a $5,000 onetime recovery in 2008 of mineral property
acquisition costs.

---

- 23 -

Cash flow provided by financing activities

Our cash provided by financing activities for the three months
ended August 31, 2009 compared to our cash provided by financing activities for
the three months ended August 31, 2008 increased by $46,147 due to the issuance
of a $50,000, 5% promissory note due on June 15, 2011 partly offset by the
repayment of loans from related parties of $3,853.

Our cash provided by financing activities for the six months
ended August 31, 2009 compared to our cash provided by financing activities for
the six months ended August 31, 2008 increased by $43,749 due to the issuance of
a $50,000, 5% promissory note due on June 15, 2011 partly offset by the
repayment of loans from related parties of $6,251.

Cash Provided by Investing Activities

No cash was used in or provided by investing activities for
either the three months or for the six months ended August 31, 2009 or for
either the three months or for the six months ended August 31, 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
six month period ended August 31, 2009.

Revenues

We have had no operating revenues since our inception on March
18, 2005 through to the period ended August 31, 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 six month periods ended August 31, 2009 and 2008.

|                               |   | Three Months Ended August 31 |  |   | Six Months Ended August 31 |  
|------------------------------ | - | ---------------------------- |  | - | -------------------------- | -
|Expense                        |   | 2009                         |  |   | 2008                       |  
|Bank charges and interest      | $ | 619                          |  | $ | 18                         |  
|Filing fees                    |   | 529                          |  |   | -                          |  
|Legal and accounting fees      |   | 12,609                       |  |   | 5,709                      |  
|Licenses and permits           |   | -                            |  |   | -                          |  
|Management fees                |   | 3,000                        |  |   | 3,000                      |  
|Office expenses                |   | -                            |  |   | 23                         |  
|Recovery from mineral property |   |                              |  |   |                            |  
|acquisition costs              |   | -                            |  |   | (5,000                     | )
|Rent                           |   | 600                          |  |   | 600                        |  
|Transfer agent fees            |   | 825                          |  |   | 675                        |  
|Net loss for the period        | $ | 18,182                       |  | $ | 5,025                      |  

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- 24 -

In the three month period ended August 31, 2009 our expenses of
$18,182 rose 262% relative to the three month period ended August 31, 2008
largely due to increased legal fees and a $5,000 onetime recovery in 2008 of
mineral property acquisition costs.

In the six month period ended August 31, 2009 our expenses of
$28,886 rose 98% relative to the six month period ended August 31, 2008 largely
due to increased legal fees and a $5,000 onetime recovery in 2008 of mineral
property acquisition costs.

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 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. Although the recent decline in the price
of oil and gas represents a reversal of this trend, we believe that the trend
towards increasing prices for energy will eventually be reinstated. 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 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:

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- 25 -

Expense
    
    AmountBank charges and interest
    $
    3,000Filing fees
    
    3,000Investor relations
    
    1,000Legal and accounting fees
    
    36,000Licenses and permits
    
    1,000Mineral property expenditures
    
    1,000,000Transfer agent fees
    
    4,000Total:
    $
    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 August 31, 2009, our assets only consisted of cash
and cash equivalents in the amount of $24,855. 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

---

- 26 -

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 second 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.

---

- 27 -

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.

Risks Related to our Company

The current global economic crisis has 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 have decreased by two thirds off
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 have experienced unprecedented
volatility and disruption during the last half of 2008 and 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 six-month period ended August 31, 2009, we incurred a
net loss of $28,886. From inception through August 31, 2009, we incurred an
aggregate loss of $220,381. 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 $4,000, including
general and administrative expenses but excluding property acquisition costs and
the cost of any exploration activities. On August 31, 2009, we had cash and cash
equivalents of approximately $24,855. In order to fund our anticipated budget
for

---

- 28 -

the next 12 months, including property acquisition costs, we
believe that we will need to raise approximately $1.1 million. 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.

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.

---

- 29 -

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.

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

---

- 30 -

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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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.

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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.

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.

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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.

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

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Item
4.           Submission of
Matters to a Vote of Security Holders

None

Item
5.           Other
Information

On June 15, 2009, we issued to one non-US investor, a
promissory note in the amount of $50,000. The promissory note is payable in full
on June 15, 2011, and will accrue interest at the rate of 5% per year from the
date of the promissory note until paid.

If principal is not paid when due, we will pay all collection
costs including, legal fees, and all expenses incurred by the lender.

We have the option of prepaying in whole or in part the
principal sum without notice or penalty providing we are not in default of the
promissory note.

We issued the promissory note to one non-U.S. person
(contemplated by Regulation S, promulgated by the U.S. Securities and Exchange
Commission under the Securities Act of 1933, as amended) in an offshore
transaction in which we relied on the registration exemption provided for in
Regulation S and/or Section 4(2) of the Securities Act of 1933, as
amended.

Item
6.           Exhibits

Exhibits required by Item 601 of Regulation S-K:

Exhibit No.
      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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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 CarusoneJoseph CarusonePresident, CEO,
CFO, Secretary, Treasurer and Director (Principal Executive Officer,
Principal Financial Officer and Principal Accounting Officer)

Date: October 15, 2009

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