PEACE RIVER, ALBERTA -- (Marketwired) -- 03/04/15 -- Strata Oil & Gas Inc. (OTCQB: SOIGF) announced today that it has received approval from the Crown to proceed with its Oil Sands Exploration plan on its Cadotte/Cadotte-West land blocks in the Peace River region of Alberta. The proposed drilling program covers 11 distinct drilling targets and will test for cold production.
To view a photo of Peace River heavy oil production, Shell Complex, please visit the following link: www.marketwire.com/library/20150304-soigf0304px800.jpg.
About Strata Oil & Gas
Strata Oil & Gas is a US-publicly traded company focused on the exploration and development of heavy oil and bitumen. The Company currently owns a 100% interest in 52,480 acres of oil sands leases in the Peace River region of Alberta's Carbonate Triangle. Strata's Cadotte project has been independently evaluated, with a resource base of 3.44 billion barrels in-place of which 887 million are classified as recoverable. Strata's Cadotte Central project of 56,000 barrels-per-day over 20 years is valued at NPV $1.2 billion. For more information, go to the Company's website at www.strataoil.com.
Strata Oil and Strata Oil & Gas are trademarks of Strata Oil & Gas Inc. This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All statements made herein concerning the foregoing are qualified in their entirety by reference to the following Norwest Reports: Evaluation of Bitumen Resources Cadotte Leases (2013), Resource Reclassification (2010), Bitumen Hosted Carbonate Pilot Projects (2008), Preliminary Feasibility Study (2008), Evaluation of Bitumen Resources Cadotte Leases (2007), which have been filed with the SEC. More information is included in Strata's filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at www.sec.gov.
Strata Oil & Gas Inc.
1-877-237-5443 or 1-403-237-5443