Strategic American Oil Pens PSA for Galveston Fields



Strategic American Oil has executed a definitive Purchase and Sale Agreement to acquire a private Nevada company, SPE Navigation I, LLC. The Company expects to close on this purchase within a week.

The material assets of SPE consist of certain oil and gas working interests equal to one third the working interests owned by the Company in and to four producing oil and gas fields located in Galveston Bay, Texas, together with one million shares of Hyperdynamics Corporation.