Strategic Oil & Gas Ltd.

November 17, 2006 14:48 ET

Strategic Oil & Gas Ltd.: Private Placements Announced

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 17, 2006) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") wishes to announce that, subject to regulatory approval, it will offer, on a non-brokered basis, up to 2,000,000 units at $1.25 per unit, to be issued on a 100% flow-through basis. Each unit consists of one common share and one half of a warrant. Each whole warrant will entitle the holder to subscribe for an additional common share for $1.60 for 12 months from closing. The Company will pay a finder's fee to brokers who provide assistance with this placement.

Funds from this private placement will be used to meet anticipated drilling and completion costs in respect to the Company's current 2006 and planned 2007 drill 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