Strategic Oil & Gas Annouce Material Growth in Reserves and Muskeg Stack Resource

- July 11th, 2013

Strategic Oil & Gas Ltd. (TSXV:SOG) announced the results of a full reserves evaluation of its assets and a resource assessment of the Muskeg Stack on a portion of the Steen River asset.

Strategic Oil & Gas Ltd. (TSXV:SOG) announced the results of a full reserves evaluation of  its assets and a resource assessment of the Muskeg Stack on a portion of the Steen River asset. The reports indicate corporate reserves growth and confirm an extensive oil resource play in the Muskeg Stack at Steen River. The resource study which covered 25% of Strategic’s Steen River land base, focused on the Muskeg Stack and has assigned resources to 37 sections on the northern rim of the Astrobleme. The Muskeg Stack is one of the six light oil producing zones on the rim of the Astrobleme.

Highlights from the study include:

  • Strategic increased corporate reserves by 53% to 11.8 MMBoe of Total Proved and Probable reserves after accounting for year to date production.
  • Total Oil Initially In Place (Discovered plus Undiscovered) (“TOIIP”) of 241 MMbbl associated with 37 sections on the northern rim of the Astrobleme.
  • Discovered Oil Initially In place in the Muskeg of 91 MMbbl with associated proved plus probable reserves of 3.6MMBoe and best estimate of contingent resources of 6.7 MMBoe.
  • Undiscovered Oil Initially In Place in place in the Muskeg of 150 MMbbl with best estimate of prospective resources of 19.4 MMBoe.

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