March 23 (Reuters) - Warrego Energy :
* RECENTLY RECEIVED AN UNSOLICITED, CONDITIONAL, NON-BINDING AND INDICATIVE PROPOSAL FROM STRIKE ENERGY
* OFFER FOR AN ALL-SCRIP CONSIDERATION OF 1.2 STRIKE SHARES FOR EACH WARREGO SHARE
* REVIEWED PROPOSAL, CONCLUDED IT FUNDAMENTALLY UNDERVALUES CO AND ITS ASSETS
* DECIDED NOT TO ENGAGE WITH STRIKE ON PROPOSAL
* CONTINUES TO BE PREPARED TO ENGAGE ON ANY OTHER PROPOSALS WHICH ARE RECEIVED IN FUTURE, WHETHER FROM STRIKE OR ANY THIRD PARTY