Strategic Oil & Gas Ltd.

January 23, 2008 09:15 ET

Strategic Oil & Gas Ltd.: Drilling Program Results Announced

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") wishes to provide an update on its 2008 winter drill programs.

The previously announced 15 well program in northwestern Alberta has seen 9 wells drilled to date, with 4 oil wells completed and producing, 2 oil wells being completed, and 2 oil wells being cased and awaiting completion. One gas well has been completed and is awaiting tie in.

In addition, as part of its on going drill program with Skana Exploration Inc., one oil well has been drilled and cased. A multi-zone completion is scheduled for January 24, 2008. Strategic paid 30% of the cost of this well to earn an 18.5% working interest in this and all other wells in this play. The success of this first well has resulted in the immediate expansion of the program.

Certain information regarding the Company contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • Strategic Oil & Gas Ltd.
    Arn Schoch
    (604) 685-1349
    Cell: (604) 780-9810