Mr. Gurpreet Sawhney reports

STRATEGIC OIL & GAS LTD. ANNOUNCES PRIVATE PLACEMENT FINANCING OF UP TO $50 MILLION

Strategic Oil & Gas Ltd. has undertaken a non-brokered private placement of up to 125 million common shares at a price of 40 cents per common share for gross proceeds of up to $50.0-million, subject to regulatory approvals. A significant portion of the private placement will be acquired by insiders, including Bay Partners Resource Funds, Tom Claugus, other directors and management of the company.

Net proceeds of the private placement will be used to repay indebtedness and finance the company's Muskeg horizontal well drilling program. Shares issued will be subject to a hold period expiring four months from the date of issue.

We seek Safe Harbor.