Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) announces the issuance of stock options and provides an operations update.
Strategic is currently in the process of completing the five Muskeg horizontal wells drilled in the first quarter, and will provide further updates as the wells come onstream.
STOCK OPTION GRANT
The Company issued 1.523 million stock options to directors, officers, employees and consultants. Each option entitles the holder to acquire one common share of the Company for a period of five years at a price of $2.65 per share. These options were issued in accordance with the Strategic's incentive stock option plan. The Company currently has 46.4 million shares outstanding.
ABOUT STRATEGIC OIL & GAS
Strategic is a junior oil and gas company committed to becoming a premier northern oil and gas operator by exploiting its light oil assets primarily in northern Alberta. The Company relies on its extensive subsurface and reservoir experience to develop its asset base and grow production and cash flows while managing risk. The Company maintains control over its resource base through high working interest ownership in wells, construction and operation of its own processing facilities and a significant undeveloped land and opportunity base. Strategic's primary operating area is at Marlowe, Alberta. Strategic's common shares trade on the TSX Venture Exchange under the symbol SOG.
Additional information is also available at www.sogoil.com
SOURCE: Strategic Oil & Gas Ltd.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.