LAS VEGAS, Aug. 6, 2009 (GLOBE NEWSWIRE) -- Over the past few weeks, news has been released by Strategic American Oil Corporation (OTCBB:SGCA) methodically reporting the activity of a company with a singular goal to enhance daily oil and gas production. Much of the company's efforts to date have been focused in Illinois where Chief Geologist Jim Thomas has a wealth of expertise and the company may possess an advantage. That partially explains Strategic American's interest in Illinois.
And then there's the four billion barrels of oil that the state of Illinois believes lies in The Prairie State.
A profile featuring Strategic American Oil Corporation (OTCBB:SGCA) and of interest to investors of oil and gas related companies BP plc (NYSE:BP), Chevron Corporation (NYSE:CVX), Exxon Mobil Corp. (NYSE:XOM), and ConocoPhillips (NYSE:COP) is available at http://www.smallcapsentinel.com/sgca2.
A previous Illinois State Geological Survey (ISGS) has estimated that the Illinois Basin has the potential to recover approximately 4 billion barrels of oil. Strategic has been swift to pursue its share, leasing 2757.9 acres covering several prospects in Jefferson County. Strategic has also leased an additional 213.84 acres in Hamilton County which has been outsourced in essence, to Admiral Exploration Company with Strategic retaining a 5% ORRI and a 10% back-in after payout. Strategic's total acres leased to date, including farmed out leases, are approximately 2971.74 acres.
Time will tell as Strategic American endeavors to monetize the Illinois opportunity, using its expert and growing footprint. With four billion barrels laying in wait, the pursuit seems justified.
Strategic American Oil Corporation is an exploration and production company with operations in Texas, Oklahoma, Louisiana, and Illinois. The company draws on an internationally recognized team of geologists, engineers, and executives with extensive oil and gas exploration and production experience. Its objective is to find and acquire oil and gas projects of merit and develop those projects to their full potential.
Register to receive exclusive information on emerging public companies at: http://smallcapsentinel.com/register
To be featured in our publications please use the contact information below.
Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. Integrity Media Inc. (IMI) provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject companies haven't always approved the statements made in this report. This report is neither a solicitation to buy nor offer to sell securities and is for information purposes only and shouldn't be used as basis for investment decisions. IMI isn't an investment advisor, analyst or licensed broker dealer and this report isn't investment advice. IMI has been compensated $5,000 and 42,857 shares of SGCA for this publication and other advertising services by Strategic American Oil and Gas (SGCA). Paid reports constitute a conflict of interest as to IMI's ability to remain objective in communication regarding subject companies.