Strata Oil & Gas Inc.
OTCQB : SOIGF

April 03, 2012 12:21 ET

Strata Oil Initiates Process to Expand Resource With 51-101 Study on West Cadotte

CALGARY, ALBERTA--(Marketwire - April 3, 2012) - Strata Oil and Gas (OTCQB:SOIGF), a leader in the exploration and development of heavy oil from carbonates, today announced that the company has initiated a search to engage an engineering firm to conduct a 51-101 compliant engineering resource study of 22 sections of its Cadotte West holdings. The Cadotte East holdings recoverable barrels are estimated at 517 million, and classified as Contingent .

Currently, Strata is executing on Phase 1 of a five phase plan to develop its 52,840 acre holdings, located in the Peace River region of Alberta's Carbonate Triangle. The Cadotte West holdings comprise of approximately 14,080 acres. Strata's 100%-owned Cadotte project is projected to produce approximately 56,000 barrels per day, with a net present value of $1.3 billion.

"The engagement of a reputable and respected engineering firm to complete the independent resource study of our Cadotte West holdings is an important element of our Phase 1 plan to obtain an accurate and realistic indication of our holdings, " said Ron Daems, president of Strata Oil and Gas. "While we are aggressively pursuing identifying the right joint venture partner to develop our Cadotte holdings, we recognize and remain focused on expanding the contingent resource, to maximize shareholder value."

About Strata Oil and Gas

Strata Oil and Gas is a US-publicly traded company focused on exploration and development of heavy oil from carbonates. The company currently holds 52,480 acres in the Peace River region of Alberta's Carbonate Triangle. For more information, go to the company's website at www.strataoil.com.

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 www.sec.gov.

Contact Information

  • Strata Oil and Gas
    Investor Relations
    1-403-237-5443 or Toll Free: 1-877-237-5443
    www.strataoil.com