2009-10-28-2009-10-16

Transaction Type
Sellers
Announce Date
Post Date
Estimated Price
5MM
Description

To buy 100% WI in 5,000 acres in Taber, Conrad areas of Alberta, gaining 140 BO/d, 339,000 BOE proved.

Strategic Oil & Gas Ltd., Calgary, (Toronto Venture: SOG) plans to acquire 100% working interest medium gravity oil properties in the Taber and Conrad areas of southern Alberta from an undisclosed seller for C$5.1 million. Strategic will pay C$4 million in cash and C$1.1 million in units. Production for July was 140 barrels of oil per day. The assets include 30 producing oil wells and 5,000 acres of undeveloped land. Proved reserves as of year-end 2008 were 339,000 barrels of oil equivalent (424,000 barrels proved plus probable). Closing is expected in the first week of November. The effective date is Oct. 1.