Strategic Oil & Gas Ltd

Strategic Oil & Gas Ltd

August 24, 2010 14:29 ET

Strategic Oil & Gas Ltd. Announces Results of AGM and Appointment of Directors

CALGARY, ALBERTA--(Marketwire - Aug. 24, 2010) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Corporation") announces the results of its annual and special meeting of common shareholders held on August 23, 2010.

At the meeting of the common shareholders, all resolutions tabled at the meeting were approved by an overwhelming majority. In addition to approving the appointment of directors and auditors, shareholders approved the continuation of Strategic transferring the Corporation's jurisdiction of incorporation from British Columbia to Alberta, with a resultant change in By-laws. Shareholders also re-approved the Corporation's stock option plan. Strategic received votes for approximately 39% of the shares currently outstanding, with greater than 95% voting their approval for the resolutions.

The directors for the corporation for the next year, as approved by the shareholders are:

Arn Schoch

John Harkins

Colin McNeil

D. Richard Skeith

About Strategic

Strategic is a junior oil and gas company with producing properties located in Maxhamish, northeast BC and Southern and Central Alberta. Production capability is currently over 300 boe/d (excluding Maxhamish) with additional production expected to be brought onstream during the third quarter of 2010 from the recently announced drilling program at Taber and Conrad.

Strategic's highly regarded subsurface technical team is primarily focused on implementing development plans for the Maxhamish project and its southern Alberta properties, while continuing to review other high impact prospects.

Further information with respect to the Corporation, including the AGM presentation, can be found on its website at

Forward-looking information

Certain information set forth in this document, including management's assessment of future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control. Those risks include, without limitation, the effect of general economic conditions, risks associated with oil and gas exploration, development, production, marketing and transportation, loss of markets, industry conditions and competition, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the ability to access qualified personnel and oilfield services, decisions by regulators and the ability to access sufficient capital from internal and external sources. Readers are cautioned not to place undue reliance on the forward-looking statements as the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or achievements could materially differ from those expressed or implied in such forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by forward looking statements will transpire or occur, or if any of them do so, what benefit Strategic will derive therefrom.

Boe presentation

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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