CALGARY, ALBERTA–(Marketwired – Aug. 9, 2017) – Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSX VENTURE:SOG) announces that, with respect to the Company’s outstanding convertible debentures, Strategic has elected to pay the interest in kind for the semi-annual interest payment due on August 31, 2017. Approximately $3.9 million in additional debentures will be issued, which will be convertible into common shares of Strategic at a conversion price of $2.03 per common share, subject to approval from the TSX Venture Exchange.
ABOUT STRATEGIC OIL & GAS
Strategic is a junior oil and gas company committed to becoming a premier northern oil and gas operator by exploiting its light oil assets primarily in northern Alberta. The Company relies on its extensive subsurface and reservoir experience to develop its asset base and grow production and cash flows while managing risk. The Company maintains control over its resource base through high working interest ownership in wells, construction and operation of its own processing facilities and a significant undeveloped land and opportunity base. Strategic’s primary operating area is at Marlowe, Alberta. Strategic’s common shares trade on the TSX Venture Exchange under the symbol SOG.