Strata Oil & Gas Inc (SOIGF-OTCBB) announced today that it has acquired rights to oil sands for an additional 9 parcels of land in the Peace River oil sands region of Alberta, increasing the size of its Alberta oil sands holdings significantly.
Regionally, the Peace River oil sands are part of Alberta's vast oil sands resource which covers approximately 54,363 square miles and four main regions: Athabasca/Wabasca, Cold Lake, and Peace River. The Peace River resource is estimated at more than 188 billion barrels [Alberta Department of Energy, Cold Heavy Oil Production With Sand In The Canadian Heavy Oil Industry, Dr. Maurice Dusseault, March 2002].
Strata is in the process of analyzing these 9 new parcels and will be releasing further news on them in the near future.
"Our goal is to provide exceptional shareholder returns in a rising oil market, and to provide greater exposure to petroleum prices by maximizing our in-place resource per common share. Remaining centered exclusively in North America as a means to minimize risk, our emphasis is on full-cycle exploration," says Manny Dhinsa. Strata Oil & Gas is a junior petroleum exploration company, with its head office located in Calgary, Alberta.
Strata Oil & Gas is a trademark of Strata Oil & Gas Inc. This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Strata's filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at http://www.sec.gov.
Terry Uppal, Investor Relations