June 10, 2008 13:03 ET

eResearch Issues Update Report on Strata Oil & Gas; Lowers Target Price

TORONTO, ONTARIO--(Marketwire - June 10, 2008) - Strata Oil & Gas Inc. (OTCBB:SOIGF) is an exploration stage junior oil & gas company with significant lease holdings in the Peace River area of the Alberta oil sands.

Despite setting a lower 12-months Target Price of $1.25 per share, our Recommendation remains Speculative Buy.

Independent analysis has determined that Strata has 517 million barrels of recoverable bitumen locked in a tight sandstone formation on a portion of its Peace River leases. The Company's resource lies within close proximity (10 km) to Shell Canada's proposed Carmon Creek Project, an area geologically analogous to Strata's leases.

Significant technical challenges are involved in extracting this bitumen from the tight sandstone formation that contains it. A successful bitumen extraction method has yet to be devised for such formations, but industry interest in solving this problem remains high. Strata is planning its own test of a new steam recovery method later this year. The odds are long, but the payoff could be enormous.

This Press Release was prepared by eResearch and was not vetted by Strata Oil & Gas Inc. Further, the Recommendation and Target Price contained in this Press Release and in the Update Report are strictly those of eResearch and, due to securities laws, are not endorsed by Strata Oil & Gas Inc.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

Strata Oil & Gas Inc. paid eResearch a fee of $20,000 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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