CALGARY, ALBERTA–(Marketwired – Nov. 25, 2013) – Strategic Oil & Gas Ltd. (“Strategic” or the “Corporation”) (TSX VENTURE:SOG) announces the following executive changes:
Michael A. Zuk has joined Strategic Oil & Gas Ltd. as Vice-President, Business Development. Mr. Zuk has over 7 years of experience in sell-side capital markets, most recently as a publishing research analyst at Stifel Nicolaus covering small and large cap oil and gas producers. Mr. Zuk holds a Bachelor of Management Degree with a specialization in Finance from the University of Lethbridge. In his role as Vice-President, Business Development he will be responsible for analyzing potential corporate acquisitions and dispositions, investor relations and corporate communication. Mr. Zuk was granted 225,000 share purchase options at an exercise price of $0.87 each which vest over three years and expire on November 18, 2018.
Strategic looks forward to leveraging Mr. Zuk’s experience in capital markets as it broadens its investor base and consistently improves its efficiency metrics.
Strategic is also pleased to announce the appointment of Mr. Douglas Wright as Vice-President Engineering and Corporate Development. Mr. Wright is a Professional Engineer with an MBA and a B.Sc. degree in Chemical Engineering. He has been with Strategic since June 2013 as Vice-President, Business Development. In his new role, Mr. Wright will be responsible for engineering, reserves and developing corporate strategy. Additionally, he will oversee the planning and execution of the Corporation’s capital spending budget.
Strategic is pleased to welcome both Mr. Zuk and Mr. Wright into their new roles as the Corporation continues to implement its growth strategy.
Strategic is a junior oil and gas company committed to growth by exploiting its light oil assets in Canada. Strategic’s common shares trade on the TSX Venture Exchange under the symbol SOG.
This news release includes certain information, with management’s assessment of Strategic’s future plans and operations, and contains forward-looking statements which may include some or all of the following: (i) anticipated production rates and timing of production; (ii) expected fluid handling rates; (iii) expected timelines for production optimization; (iv) expected results of capital programs; (v) expected future capital projects and associated operating and transportation cost reductions; and (vi) expected improvements in efficiency metrics and growth; which are provided to allow investors to better understand the Company’s business. By their nature, forward-looking statements are subject to numerous risks and uncertainties; some of which are beyond Strategic’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, changes in environmental tax and royalty legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, and other risks and uncertainties described under the heading ‘Risk Factors’ and elsewhere in the Company’s Annual Information Form for the year ended December 31, 2012 and other documents filed with Canadian provincial securities authorities and are available to the public at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The principal assumptions Strategic has made includes security of land interests; drilling cost stability; royalty rate stability; oil and gas prices to remain in their current range; finance and debt markets continuing to be receptive to financing the Company and industry standard rates of geologic and operational success. Actual results could differ materially from those expressed in, or implied by, these forward-looking statements. Strategic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
MBA, MSc., PEng.
President and Chief Executive Officer
Strategic Oil & Gas Ltd.
Michael A. Zuk
VP Business Development