Strata to Move Forward with Peace River Exploration

Strata Oil & Gas said that it will proceed with exploration on its 100-percent-owned Peace River Oil Sands project in Alberta.

"We believe the upside on our Peace River leases is substantial, and we are aggressively carrying out exploration with a goal to develop our 100-percent-owned oil sands project in a timely manner," said Manny Dhinsa, Strata's president.

After reviewing the available geological data, Strata's scientific team reommended aggressive exploration on the company's wholly owned 26,000-acre oil sands package. The land package is located in the Peace River oil sands region of Alberta, which the Alberta Department of Energy estimates to contain more than 188 billion barrels of oil.

Strata's Peace River Oil Sands project is approximately 35 miles to the southwest of Blackrock's Seal project and 40 miles south of Shell Canada's Peace River complex.