Strata-X Ltd.

Strata-X Ltd.

December 13, 2011 17:08 ET

Strata-X Ltd. Announces Vallecitos Project Update San Benito County, California

GOLDEN, COLORADO--(Marketwire - Dec. 13, 2011) - Strata-X Ltd. (Strata-X) (TSX VENTURE:SXE) through its wholly owned subsidiary Strata-X, Inc. has been informed by the Vallecitos Project operator (Patriot Resources, LLC) that operations on the 6-31 RD2 stepout well at Vallecitos Field, San Benito County, California, have been suspended until early January due to the bad condition of the original wellbore. This shutdown will be done without any standby costs for the rig or outside services. Strata-X has a 22.5% working interest and a 19% net revenue interest in the well and project.

Tim Hoops, Strata-X President, said: "It is only prudent that we take this time off to insure that all of the elements required for a successful operation are in place and we feel that this is the most cost effective way to proceed. We are still very encouraged with the oil shows in the Yokut target zone seen in the first wellbore"

Strata-X is a Edmonton, Alberta and Golden, Colorado based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, and production and development opportunities in California and Texas. Strata-X has 42,308,156 common shares outstanding and trades under the symbol SXE on the TSX.V

Public documents for Strata-X Ltd. (formerly known as Ozcapital Ventures Inc.) Can be found at SEDAR (

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected and the forward-looking statements included in this news release should not be unduly relied upon. See "Risks and Uncertainties" in the Company's Filing Statement dated August 30, 2011 available on SEDAR at These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Neither 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.

Contact Information

  • Strata-X Ltd.
    Tim Hoops

    Strata-X Ltd.
    Doug Walker
    Corporate Secretary