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Strata Oil & Gas Updates Economic Analysis of Cadotte Project, NPV at $1.3 Billion
March 30, 2011

Strata Oil & Gas Inc. ("Strata") is pleased to report an update to the economic valuation of its 100% owned Cadotte Project in the Peace River Oil Sands area of Alberta, Canada.

Based on revised forecast prices and costs, this economic analysis indicates that the development of Strata's Cadotte Project remains economically viable with a net present value (discounted at 10%) of cash flows before income taxes of USD $1.3 billion.

The table below indicates the new valuation:

Norwest Corporation of Calgary, Alberta completed this independently prepared analysis in 2010 on behalf of Strata. In 2008 Norwest conducted an initial economic evaluation of the Cadotte Project in a Preliminary Feasibility Study, and in April 2010 Norwest upgraded Strata's resource to a best estimate Contingent Resource of 517 million recoverable barrels of oil.

The assumptions utilized in the current economic evaluation were based on a review of published public data for similar projects. The analogy method was originally utilized to develop recovery factors that were applied to the original bitumen-in-place estimates to obtain a low, most likely, and high estimate for potentially recoverable bitumen. Several projects using technology similar to that expected to be implemented on Strata's Cadotte Project were used as analogies for a bitumen recovery method and a resultant range of recovery factors.

Production for Strata's Cadotte Project is estimated to be a maximum of approximately 56,000 barrels per day during the main period of development. The production life for this schedule exceeds 20 years.

"After factoring in improved oil prices and increased operating costs, this economic update demonstrates that our Cadotte Project remains a viable and sustainable world class project with a NPV of $1.3 Billion," stated Ron Daems, President and CEO of Strata. "I am encouraged to see a more robust price applied to world markets on Alberta Bitumen, as we have seen the spread between light crude and heavy oil narrowing over the past several years."

Strata Oil & Gas Inc. is a Canadian junior exploration company focused on carbonate-hosted bitumen deposits in the Peace River area of Alberta, Canada.

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. All statements made herein concerning the foregoing are qualified in their entirety by reference to the Pre-Feasibility Study which has been filed with the SEC. 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

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