LAS VEGAS, Oct. 28, 2009 (GLOBE NEWSWIRE) -- Breaking news this morning from Strategic American Oil Corporation (OTCBB:SGCA) adds to the growing interests of the Texas-based company which announced it has completed leasing of over 93% of the mineral interest in the 160 acre Dixon Lease located in the Delhi South Field, Franklin Parish, Louisiana with the remaining portion expected to be under Strategic control soon. The acquisition significantly increases the company's acreage position in the Delhi South Field by 114% and once workovers are completed, will add to Strategic's daily oil production and reserve base in Louisiana.
It's a significant event for Strategic on the heels of the completion of a $2.5 million financing announced last week. The company also has operations in Texas, Oklahoma, and Illinois.
With oil closing over $81 again on Tuesday, Strategic adding to its producing portfolio makes sense and perhaps conveys momentum for a company with a major financing now in place, operations in numerous oil-rich states, and an increasingly bright future.
A profile featuring Strategic American Oil Corporation 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
About Strategic American Oil Corporation
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. The Company's objective is to find and acquire oil and gas projects of merit and develop those projects to their full potential.
To view a corporate presentation of SGCA visit the link below:
http://www.strategicamericanoil.com/_resources/SAO_Presentation_June_9_2009_opt.pdf
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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.