Gear Energy Ltd. announced that they have entered into a definitive agreement providing for the acquisition by Gear of all the issued and outstanding common shares of Striker. Gear announced that three current directors of Striker; Neil Roszell, President and Chief Executive Officer of Raging River Exploration Inc., John O'Connell, Chairman and Chief Executive Officer of Davis-Rea Ltd. and Kevin Olson, President of Kyklopes Capital Management Ltd. are expected to join the board of directors of Gear upon completion of the Arrangement. Additionally, in connection with the completion of the Arrangement, Mr. Greg Bay, President of Cypress Capital Management Ltd. will be retiring from the board of directors of Gear.