Strategic Oil & Gas Acquires Assets from Paramount Resources

Strategic Oil & Gas Ltd. (TSXV:SOG) announced that they have acquired the Cameron Hills and Bistcho assets from Paramount Resources Ltd.

As quoted in the press release:

The Acquired Assets will add approximately 500 BOE/d of production and 1.1 MMboe of reserves to Strategic on a highly accretive basis. Further, the Acquired Assets` associated plant and pipeline network are of significant strategic importance for accelerating the future growth from Steen River. The Acquisition represents a strategic expansion of the Company’s focus area and provides Strategic with abundant well control, seismic coverage, and significant light oil potential.

Strategic’s President and CEO, Gurpreet Sawhney, said:

This Acquisition provides the next stepping stone for adding value to Strategic while adding high quality assets with unrealized upside and repeatable drilling potential, in an area adjacent to our significant northern Alberta land position.

To view the whole press release, click here.