Strategic American Oil Corp. (SGCA)

[stockseeker30]

Will have to wait and see on that one, but everyone is buzzing about the future of the market now looking brighter, investigating wisely is always the key.

[armedical]

I’m very interested to see what the field study reveals.

[protostars]

Oil, of course, has risen nicely over the past month, and the fact that the economy is showing signs of growth, albeit modest, is a positive sign for now.

[mwest]

It helps heal the blow of money investors have lost over the last few months..

[stockseeker30]

Will get people motivated to the letting go off their money and choosing to invest again, as well as seeing good news on the side of 401K's. It all adds up to great news for SGCA

[armedical]

It is a matter of people feeling confident in what they are investing in. Let’s face it we have all be cautious in spending money in all areas of our lives.

[protostars]

Two things to keep in mind: (1) the price of oil, and (2) Strategic's proved reserves.
The latest report on proved reserves, including SPE, comes up with 1.6 million BOE and 16.6 BCF of gas, which currently comes out to over $77 million (discounted).

[mwest]

Slightly down in the market today.

[stockseeker30]

As are many other stocks but fortunately this one is not down by a huge amount.

[armedical]

That is the story of the stock market. You win some you lose some.

[protostars]

SGCA has had a good October.

[QualityStocks]

Strategic American Oil Corp. (SGCA) Sees Opportunity in the Land of Lincoln

The increase in the price of oil has reinvigorated the search for domestic resources, including those in states that the average American doesn’t normally associate with oil production. A prime example is Illinois. Far from the parched prairies of Oklahoma and Texas, Illinois is a state more associated with Chicago and agriculture than fossil fuels, and yet oil and gas have been commercially produced in Illinois for over a century. During this time, the state has produced well over 3 billion barrels of oil. Even more surprising is that there is an estimated 4 billion barrels still in the ground in the Illinois Basin, a huge geological structure covering most of Illinois.

Strategic American Oil, a growth stage domestic oil and gas exploration and production company, is growing its portfolio of oil projects in the Illinois Basin, in addition to the company’s operations in Texas and Louisiana. Strategic has leased over 2,900 acres in the Basin, with new projects being identified.

• Waterflood #1 – Strategic has been working on the WF1 Prospect for many months, and is now finalizing designs for the pilot program. An independent engineering report has identified potential reserves, indicating production can be achieved through primary and secondary recovery. In addition, there are other zones not fully exploited that may hold significant reserves.
• DST Prospect – Covering roughly 1,000 acres, the DST Prospect offsets fields that have produced from 764,000 barrels to over 3,500,000 barrels of oil. Strategic is now working to secure additional working interest partners to perform initial drilling of an offset well.
• Oakdale NE Prospect – There are numerous productive fields around the Oakdale NE area, with the original Oakdale North Field producing 761,000 barrels of oil.

Strategic’s CEO, Jeremy Driver, emphasizes the importance of the company’s Illinois prospects: “Allocating significant resources to the Illinois Basin is an integral part of the future growth for Strategic American Oil,” said President and CEO, Jeremy Driver. “We believe strongly that our development of these projects will reap great economic rewards for the company and its shareholders.”

For additional information, visit www.StrategicAmericanOil.com

[mwest]

The Waterflood #1 project seems to hold a lot of potential, not only will they benefit from the area now but within the area are other places that have yet to be touched for future explorations by sGCA.

[armedical]

It was made very clear by the CEO that it is critical to have “ significant resources to the Illinois Basin.” This means the financial security for this company.

[stockseeker30]

That's true mwest, that project is one to keep an eye on for now and future benefits.

[protostars]

Still a lot of Illinois oil in the ground. Interesting to see how the initial drills turn out.

[armedical]

I was also impressed in how far north the oil reserve is in the US. There seems to be an abundance of such reserved.

[mwest]

In the past the U.S. has been very timid about exploring these area, happy to see things are changing now.

[stockseeker30]

With events happen the way they have been recent years, it has never been more important for the U.S. to explore the Oil here.

[protostars]

Louisiana and Texas obviously overshadow Illinois in oil output, but the CEO makes Strategic's commitment to the state clear.