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SPOWF you remember being in lwctf when it ran. Went from 003 to .20 man that was fun. This thing has a tiny share structure compared to that. Have a good feeling about this one. F tickers have been running all year and the year isn't over yet$$
Unfortunately this will be in a holding pattern until pipeline capacity is increased. With the current discount to WTI on alberta oil very few projects are feasible. The pipeline would open up markets other than the USA and greatly decrease that discount. It will happen eventually IMHO. PATIENCE
SOIGF has reached the point where manipulatars are wanting in (IMHO) is the reason for the recent drop. Think about it. SOIGF sustained a market price (though it was low) until the price of oil raised. Now it drops???? (smells of manipulation) Look for a rise in SP and some strength. The strength may not last long if no announcements from management are forthcoming though.
Not much of anything? It seems their timing was a stroke of genius. They have done a whole lot more with a whole lot less since the decline in oil prices. They now have more valuable property available for JVs. I seriously doubt they will develop them on their own. I have ridden this train before with a different heavy oil company (with much lower resources). JV gave me a .07 dividend on a .03 share. This of course is not guaranteed, but the chances are very high with a decent price of oil.
Strata did not do much of anything when the price of oil was $100.00 plus what makes you think that they will do something when the price of oil is $70.00 ?
As of December 31, 2017, the Company has a 100% interest in 56 oil sands leases located in the Peace River oil sands area, totaling 58,368 hectares. The Company owns 3 non-producing wells on these leases.
Oil Sands Background
“Oil Sands” refers to either unconsolidated, bitumen-saturated sands or bitumen-saturated carbonate-rock. Bitumen refers to a heavy, viscous crude oil that generally does not flow under natural reservoir conditions. As a result, it cannot be recovered from a conventional well in the way lighter oil is most often produced. The oil sands in Alberta are contained in three major areas in Alberta.
According to the Alberta Energy Regulator (AER), Alberta's oil sands are the third-largest proven crude oil reserve in the world, with total proven reserves of 166 billion barrels, and total recent production of up to 2.4 million barrels per day.
These deposits contain a significant amount of oil but only in recent decades has commercial production become economic. Extraction of oil from oil sands requires the input of significant amounts of thermal energy or other technology. There are two main types of oil sands production methods: surface mining and in-situ. Surface mining is accomplished using an open pit operation whereby the oil sands are excavated and trucked to a processing facility. For oil sands reservoirs too deep to support surface mining, a technique known as in-situ recovery is utilized. In-situ production recovers the oil through a well, and utilizes thermal energy or other technologies to reduce the viscosity of the bitumen to allow it to flow to the well bore. There are some oil sands reservoirs where primary or “cold” production is possible. The oil in these reservoirs is light enough to flow to the well without thermal treatment, utilizing either vertical or horizontal wells.
Carboniferous Oil Sands
Carbonate oil sands, or carbonate-hosted bitumen, are unconventional resources that remain almost untapped. While much is known about Alberta’s vast sands-hosted bitumen resources, less is understood about a bitumen resource of similar magnitude which is hosted in carbonate rock directly beneath the sands. According to a report by Petroleum Technology Alliance Canada (PTAC), 26% of Alberta’s bitumen resources are contained in carbonate rather than sand formations. They are located in a roughly triangular 70,000 square-kilometer area of Alberta informally known as the Carbonate Triangle. The basic difference between sands and carbonates is that the former is bitumen mixed with unconsolidated sand, which can be either mined or produced from wells, whereas the latter is bitumen in carbonate rock. Currently, only pilot production of carbonate-hosted bitumen has taken place.
The Company has focused a portion of its efforts on the exploration and development of carbonate-hosted bitumen rather than just focusing on sand-hosted bitumen. The Company believes Alberta’s carbonate-hosted bitumen reservoirs represent an enormous and relatively untapped resource. The optimal means for producing bitumen from carbonates is still being studied, and there is unlikely to be a single Alberta-wide strategy for production. Cold production may be possible in some areas although in most cases production will require an in-situ treatment. Various technologies have been tested including similar technologies to those employed in the oil sands (cyclic steam, SAGD, and solvents.). There are several techniques which may prove to be effective. The Company is in the process of determining the most efficient means of producing bitumen from our projects.
Planned Work by the Company for 2018
The Company plans to continue focusing its resources on the analysis and development of its Peace River oil sands properties.
PEACE RIVER OIL SANDS LEASES
Acquisition of Interest
The Company has entered into a series of leases in multiple transactions with the Province of Alberta in the Peace River area of Alberta, Canada(the “Peace River Properties”). Some of the leases were acquired through a public auction process that requires the Company to submit sealed bids for land packages being auctioned by the provincial government. Upon being notified that it has submitted the highest bid for a specific land parcel, the Company immediately pays the Crown the bid price and enters into a formal lease agreement. The bid price includes the first year’s minimum annual lease payments. The remainder of the leases were acquired by third parties, however all the Company’s leases are leased directly with the Crown.
The Peace River Properties consist of a total of 58,368 hectares of land in a region of northern Alberta known as the Peace River oil sands region. The leases are subject to royalties payable to the Government of Alberta. Alberta's oil sands royalty regime operates on the principle of revenue minus cost. Royalty is paid at one of two rates, depending on the project’s status. The deciding factor is the project’s payout date . A project has “reached payout” once its cumulative revenues have exceeded its cumulative costs. Before the payout date, the applicable royalty is 1% of the project’s gross revenue. This low rate recognizes the high costs, long lead times and high risks associated with oil sands investment. It prevents undue strain on the developer’s financial resources during the most critical, start-up stages of the project. After the payout date, the applicable royalty is the greater of 1% of the project’s gross revenue or 25% of the net revenue for the period .
Peace River Projects
The Peace River properties (hereinafter referred to as “Cadotte West”, “Cadotte Central”, “Cadotte East”, the “Cadotte Leases” and the “Reno Leases”) are comprised of 56 oil sands leases with the Government of the Province of Alberta, Canada. All of the leases are for an initial 15-year term (and may then be converted to non-expiring leases) and require minimum annual lease payments to the Crown. Each lease grants the Company the right to explore for, develop and produce hydrocarbons from the geological formations described in each lease.
From February 2017
Strata Oil & Gas Inc. (“Strata”) has entered into a Letter of Intent with Petrosteam LLC (“Petrosteam”) to obtain an exclusive license to deploy patented and field tested proprietary technologies utilizing steam generation applied to bitumen and heavy oil recovery (the “Petrosteam Technology”) in the Provinces of Alberta and Saskatchewan (collectively the “Territory”). Under the exclusive license, Strata has the exclusive right to use the Petrosteam Technology to produce within the Territory from its own properties and from those of others.
Subject to final agreement, payment for the license includes issuance of restricted shares issued by Strata to Petrosteam, to wit: 5 million upon execution of the agreement; 5 million upon Strata stock price reaching $.50 USD; 10 million upon Strata stock reaching $6.00 USD; and 10 million upon Strata achieving commercial production.
As part of the exclusive license agreement and subject to the terms of the definitive agreement, Strata will purchase equipment, including steam generators, from Petrosteam. The first unit (5 mmbtu at 600 psi) will be acquired for $2 Million USD with the second (30 mmbtu at 850 psi) for $3.5 Million USD. Additional units may be purchased from Petrosteam as required by Strata.
Strata shall also pay to Petrosteam a royalty payment of six percent (6%) on that portion of gross revenues attributable to the Petrosteam Technology as defined in the purchase agreement. Strata has a first right of refusal to buy this royalty from Petrosteam.
Petrosteam is the exclusive owner of the patented Petrosteam Technology on a global basis. The Petrosteam Technology utilizes an oil steam generation system (patented), the High Temperature Mixed Gas Generator (HTM2G), utilizing patented Immersed Combustion Technology (ICT) to minimize emissions and waste heat as no combustion gases are released to the atmosphere. Produced gases are injected into the formation along with the steam providing additional energy to the reservoir in the form of compressed nitrogen (N2) and CO2. The Petrosteam Technology results in greater than 99% thermal transfer energy efficiency and also greater than 99% combustion efficiency and is virtually zero emission. The Petrosteam Technology also has a substantially smaller surface footprint than conventional steam generation technologies; and is highly mobile.
The Petrosteam Technology also includes a proprietary Cyclic Steam Stimulation computer model, which generates expected production increases from target reservoirs using available parameters such as pay thickness, porosity, permeability and crude API.
The Petrosteam Technology is patented and has been field tested.
I found it. Is there a problem with it. You obviously have not been and have not been to Peace River. Not exactly a metropolis with sky scrapers. Very good people, but not much of a town.
Seems like this is on life support.it should be at about 12 cents after the reverse split , the stock symbol was changed to SOIGD and then back to SOIGF and the share price on the website never changed from 0.01 cent. we should get ready for the funeral. If you have not seen a picture of the so called Strata office , just Google the address below to see a picture ( Let me know if you find it ).
So what, this company at a pathetic all time low, this company is basically a driverless car. You should call and request an investors packet and have a nice chat with their voice mail. Surprised the phone company hasn't disconnected them
This administration in Canada have a lot regulations and make this industry less competitive. Alberta Premier Rachel Notley and other politicians will change this.
Yes, the NDP party is the party of greenies in Canada. Right now they have the equivalent of our former Obama administration. Also BC can pretty much be comparably Canadian California. The Canadian people will dump the current administration just as we dumped the Obama administration. Things will change.
I dont know the answer to either question. One could call IR and find out. I personally am not concerned about it. I will simply wait until the shakeout is over after the RS and increase my position. I got in this knowing full well it would likely p take years to pay off.
Try calling IR at 8772375443. 1000% chance you will get a voice mail, even greater chance they won't call you back. Do they even exist any more? Didn't use to be that way.
Leveraging Higher Oil Our goal is to provide exceptional shareholder returns in a rising petroleum market. Our focus is to provide greater exposure to petroleum prices by maximizing our in-place resource per common share and minimizing shareholder dilution, looking exclusively to projects within North America, as a means to minimize risk. Our emphasis is on full-cycle exploration --- we believe that we can have a greater impact by developing our own exploration projects rather than acquiring advanced projects from others.
Strata Oil & Gas is focused on the exploration and development of heavy oil / oil sands in Western Canada.
For a non-technical overview of our exploration and development strategy, click here.
Heavy oil and oil sands are very viscous and do not flow easily, and are primarily found in the Western Canada Sedimentary Basin which extends from the Yukon and Northwest Territories, through northeastern British Columbia, Alberta and central Saskatchewan.
Alberta's oil sands reserves represent approximately 54,363 square miles, and cover 4 main regions Athabasca/Wabasca, Cold Lake, and Peace River.
These deposits contain enough oil that if only 30% wereextracted, it could supply the entire needs of North America for over 100 years at current consumption levels. Current established reserves -- defined as those that are recoverable using current technologies -- have placed Canada second only to Saudi Arabia in known economic reserves. The total estimated in-place resource for heavy oil / oil sands in Canada is approximately 2.5 trillion barrels, making it the largest known petroleum resource in the world.
Today, our oil sands land base comprises approximately 72,000 acres. Of that, nearly 71,000 acres (approximately 110 sections) is in the Peace River oil sands region which are estimated to contain more than 188 billion barrels of oil, and an additional 1,280 acres (2 sections) in the Wabasca oil sands which are estimated to contain in excess of 94 billion barrels of oil [Alberta Department of Energy, Cold Heavy Oil Production With Sand In The Canadian Heavy Oil Industry, Dr. Maurice Dusseault, March 2002].
Strata's Peace River oil sands parcels are located in 2 areas. Our Cadotte blocks are located immediately adjacent to Shell Canada's Peace River block and 12 miles to the northwest of Blackrock's Seal project. Our Bearhead blocks are located approximately 35 miles to the southwest of the Seal project and about 40 miles to the south of the Peace River complex.
The Seal leases are estimated to contain 2 billion barrels of bitumen and are producing close to 15,000 bpd, and the Peace River complex is estimated to contain 7 billion barrels of bitumen and is producing 9,000 bpd. Blackrock's Seal project production tends to draw from an average bitumen interval of 5 to 18 meters in thickness, and is Canada's second lowest cost producer, even measured against conventional oil producers, at an average operating cost of around $5-6 CDN per barrel. Development of the Peace River oil sands is still considered early-stage relative to Athabasca. Production is expected to increase in the region.
The oil sands in the Peace River area tend to vary in thickness. Production in the area, which was once thought to require expensive thermal operations, has now been shown to also support a non-thermal (cold) production model (like conventional primary production but with sand) (ex. the Seal project, at approximately 10-11 degrees API).
Strata's Peace River projects are being evaluated and exploration is being carried out.
Strata's Drowned Area oil sands project is to the south of the Brintnell-Pelican Lake oil sands deposit. CNRL's Pelican Lake project (80% CNRL, 20% EnCana) contains more than 3 billion in-place barrels of oil, of which as much as 12% is recoverable using current technologies. Production is in the range of 20,000 bpd, and is expected to increase. Pelican Lake is Canada's lowest cost oil producer, at an average operating cost of less than $5 CDN per barrel. The oil sands in this area are in a thin pool (in the range of 4 to 6 meters) but spread out over a large area, like a vast but shallow underground lake of oil. Although technically oil sands, they are conventional in the sense that non-thermal production methods can be used (cold production, whereby the oil and the sand are all extracted together and sent via pipeline from Pelican Lake to Hardisty for processing.
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