Posted by Ron Daems, President
The Peace River oil sands are a 2.9 million hectare region in the Carbonate Triangle of Northern Alberta. Along with the Athabasca and Cold Lake oil sands, they comprise the 2nd largest oil deposit in the world after Saudi Arabia. Within the Peace River oil sands only 44% of the available land is under lease from the government.
Recently, Strata Oil released the results of its core analysis study done on portions of its property in the Peace River region, not far from Shell Canada's Carmon Creek project, which speaks to the favorable economics and enhanced potential of Strata's project. But another recent development in the region has added further value for Strata's shareholders.
Recently, in the Peace River Oil Sands area, a lease block totaling just 1/16th the size of Strata's Cadotte block was snapped up for about $2000/hectare --- a major increase over previous land sales and a strong indication of significant regional interest. Although the identity of this purchaser is unknown, the oil sands rights purchased are located below the surface of Shell Canada's land, which is just next door to Strata Oil's project.
With a recoverable resource of 887 million barrels of crude, and sitting adjacent to one of the world's largest oil producers, Strata is in a prime position to move its 56,000 barrel-per-day project forward.
With regional activity remaining in a strong uptrend, and crude prices stable, Strata's prospects have never been better. Investors have solid reasons to expect continued appreciation in Strata's value as we move forward with pre-production.
I'll be in touch with you as more news comes out. In the meantime, if you haven't already done so, remember to check out this exceptional opportunity we've made available to qualified investors at http://www.strataoil.com/include_me.php.