CALGARY, ALBERTA--(Marketwired - April 7, 2017) - Strategic Oil & Gas Ltd. ("Strategic" or the
"Company") (TSX VENTURE:SOG) announces the issuance of stock options and provides an operations update.
OPERATIONS UPDATE
Strategic is currently in the process of completing the five Muskeg horizontal wells drilled in the first quarter,
and will provide further updates as the wells come onstream.
STOCK OPTION GRANT
The Company issued 1.523 million stock options to directors, officers, employees and consultants. Each option
entitles the holder to acquire one common share of the Company for a period of five years at a price of $2.65 per share. These
options were issued in accordance with the Strategic's incentive stock option plan. The Company currently has 46.4 million shares
outstanding.
ABOUT STRATEGIC OIL & GAS
Strategic is a junior oil and gas company committed to becoming a premier northern oil and gas operator by
exploiting its light oil assets primarily in northern Alberta. The Company relies on its extensive subsurface and reservoir
experience to develop its asset base and grow production and cash flows while managing risk. The Company maintains control over
its resource base through high working interest ownership in wells, construction and operation of its own processing facilities
and a significant undeveloped land and opportunity base. Strategic's primary operating area is at Marlowe,
Alberta. Strategic's common shares trade on the TSX Venture Exchange under the symbol SOG.
ADDITIONAL INFORMATION
Additional information is also available at www.sogoil.com and
at www.sedar.com.
Reader Advisories
This news release includes certain information, with management's assessment of Strategic's future plans and
operations, and contains forward-looking statements which may include some or all of the following: (i) timing to complete and
put new wells on production; (ii) timing of future market updates; and (iii) future capital projects to be undertaken, which are
provided to allow investors to better understand the Company's business. By their nature, forward-looking statements are subject
to numerous risks and uncertainties; some of which are beyond Strategic's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, changes in environmental tax and royalty legislation, competition from other industry participants, the lack
of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from
internal and external sources, and other risks and uncertainties described under the heading 'Risk Factors' and elsewhere in the
Company's Annual Information Form for the year ended December 31, 2016 and other documents filed with Canadian provincial
securities authorities and are available to the public at www.sedar.com.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
The principal assumptions Strategic has made includes security of land interests; drilling cost stability; royalty rate
stability; oil and gas prices to remain in their current range; finance and debt markets continuing to be receptive to financing
the Company and industry standard rates of geologic and operational success. Actual results could differ materially from
those expressed in, or implied by, these forward-looking statements. Strategic disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.