LAS VEGAS, July 21, 2009 (GLOBE NEWSWIRE) -- Today's announcement by Strategic American Oil Corporation (OTCBB:SGCA) -- an exploration and production company with operations in Texas, Oklahoma, Louisiana, and Illinois, continues the company's dynamic exploration plans for the lucrative oil fields of Illinois. Moreover, the company's exploration team believes the targets identified could contain significant oil reserves with detailed geologic information to be released upon completion of leasing.
This is intriguing news for Strategic American, which is targeting Illinois with a geologist with over 35 years of experience in the exact area on hand. Moreover, Strategic American Oil Corporation also recently announced it has leased an Illinois land position in a previously producing oil field that could host significant in-place reserves through Enhanced Oil Recovery. By researching the Illinois State Geological Survey, Strategic American has discovered the oil field previously produced an aggregate of 1.5 million barrels of oil during the 1940s and 50s. Nearby waterflood operations in the same zones have yielded a 1:1 recovery. Strategic American has leased approximately 372 acres of the oil field and plans to use existing injection wells while drilling new recovery wells to 4,000 feet.
Today's news further establishes Strategic American as a player in this region and perhaps this industry, using a potent combination of new technology and qualified, specific expertise.
A profile of Strategic American and of interest to investors of oil and gas equities Cobra Oil & Gas Company (OTCBB:CGCA), RAM Energy Resources, Inc. (Nasdaq:RAME), Oilsands Quest Inc. (AMEX:BQI), and VAALCO Energy, Inc. (NYSE:EGY) is available at: http://www.SmallCapSentinel.com/sgca2
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Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. Integrity Media Inc. (IMI). 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.