REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Thursday, September 29, 2011

Strategic American Oil Completes Acquisition


OUSTON, Sept. 27, 2011 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA.OB - News) today announced that it has completed its acquisition of the private Nevada company, SPE Navigation I, LLC.
The material assets of SPE consist of certain oil and gas working interests equal to one third the working interests owned by the Company in and to four producing oil and gas fields located in Galveston Bay, Texas, together with one million shares of Hyperdynamics Corporation (NYSE:HDY - News).
Jeremy G. Driver, CEO, stated, "With the consummation of this transaction, both our cash flow and balance sheet are greatly improved. This puts us in an excellent position for substantial growth. We have multiple opportunities that can now be pursued, allowing us the opportunity to increase production and further enhance shareholder value."
Posted by at
Labels: , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)