Strategic Oil & Gas Ltd. Announces a 48% Increase to Capital Spending Budget

CALGARY, ALBERTA--(Marketwire - June 6, 2011) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to announce that its Board of Directors has approved a 48% increase to the Company's 2011 capital budget from $25 million to $37 million.

The increase to the capital expenditures is due to recent successes, previously announced, at Steen River:

• First quarter drilling success from two Keg River wells;
• Success at the June 1 land sale;
• Recent geological and geophysical assessment of the multi-zone potential.

About Strategic

Strategic is a well capitalized junior oil and gas company with an unutilized line of credit committed to growth by exploiting its light oil assets in Maxhamish, northeast BC and Steen River in northwest Alberta. Strategic's highly regarded subsurface technical team is primarily focused on implementing development plans for its light oil properties, while continuing to review other high impact light oil resource plays. Strategic's common shares trade on the TSX Venture Exchange under the symbol SOG.

Further information with respect to the Company can be found on its website at www.sogoil.com.

FORWARD LOOKING INFORMATION: Certain information set forth in this document, including management's assessment of future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control. Those risks include, without limitation, the effect of general economic conditions, risks associated with oil and gas exploration, development, production, marketing and transportation, loss of markets, industry conditions and competition, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the ability to access qualified personnel and oilfield services, decisions by regulators, and the ability to access sufficient capital from internal and external sources. Readers are cautioned not to place undue reliance on the forward-looking statements as the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or achievements could materially differ from those expressed or implied in such forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by forward looking statements will transpire or occur, or if any of them do so, what benefit Strategic will derive there from. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Specific forward-looking statements include the following:

Steen River program. Specific risks include the allocation of capital to the drilling program and successful results. In addition, much of the area is currently subject to winter access only. Although the Company currently has available funds for these wells, there is no assurance that competing projects may require a re-allocation of funds. The success of these wells and achievement of the projected production is subject to the geologic and operational risks associated with any well.