Strategic American Oil Corporation (OTCBB: SGCA)

As crude oil prices hover below $79 per barrel, traders are trying to anticipate the strength of the global economic recovery and how much crude demand may grow during the next 12 months. Some analysts expect stronger demand and a weakening U.S. dollar will help push prices higher. This bodes well for independent oil companies like SGCA with a highly experienced and internationally recognized team of geologists, engineers, and executives with extensive oil & gas exploration and production experience.  This combined with relationships it is building with well-established oil & gas companies should reduce its risk and exploration costs, and increase the company’s exposure to new projects, bringing a unique advantage to the company and its shareholders.

Please take a moment to read the compelling profile that follows

About Strategic American Oil Corporation

Strategic American Oil (OTCBB: SGCA) is an exploration and production company with operations in Texas, Oklahoma, Louisiana and Illinois.  The company draws on the experience of an internationally recognized team of geologists, engineers, and executives with extensive oil and gas exploration and production experience combined with corporate and financial expertise.   SGCA has developed and implemented a multi-tier growth program:

• Develop salable drilling prospects in-house retaining a carried interest to casing point
• Drilling of offset wells retaining a majority of the working interest
• Develop secondary recovery (waterflood) projects

• Increase production by re-working existing producing or previously producing wells
• Develop proven undeveloped zones (behind pipe) in existing wells. 

• Acquire currently producing oil and gas wells
• Complete in-house 3D seismic projects and acquire 3D data where warranted/available 


The Company's objective is to find and acquire oil and gas projects of merit and develop those projects to their full potential.
 

Projects and Prospects

 

Strategic American Oil has identified and acquired working interests in several projects in Texas, Illinois, and Louisiana and further projects have been identified. The company is currently developing working relationships with well-established oil & gas companies and firmly believes this will reduce its risk and exploration costs, and increase the company’s exposure to new projects, bringing a unique advantage to the company and its shareholders.

SGCA PROJECTS

ILLINOIS: OAKDALE, NORTHEAST & DST PROSPECTS

To date SGCA, operating in Illinois as Penasco Petroleum, Inc., has leased over 1800 acres in the Oakdale and DST prospect areas.  Penasco plans to shoot several 2-D seismic lines on currently held leases in conjuction with seismic option agreements in order to confirm subsurface structures.  Confirmation of structures will be followed by drilling.  Targets range in depth from 2,000’ to 4,000’.  Leases aquired to date are primarily 87.5% Net Return Interest.

Additionally, the Company has generated a number of Pinacle Reef prospects.  These prospects will be confirmed by 3-D seismic and drilled based on 3D results.

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WATERFLOOD PROSPECT, JEFFERSON COUNTY

SGCA leased an Illinois land position in a previously producing oil field that could host significant in-place reserves which the Company would seek to produce using the Enhanced Oil Recovery method (waterflood). By researching the Illinois State Geological Survey, the Company has discovered the oil field previously produced an aggregate of 1.5 million barrels of oil during the 1940s and 50s. Nearby waterflood operations in the same zones have yielded a 1:1 recovery. The Company has leased approximately 372 acres of the oil field. The Company plans to use existing wells for injection while drilling new recovery wells to 4,000 feet.

LOUISIANA: SOUTH DELHI/BIG CREEK FIELD

In 2006, SGCA acquired a 97% working interest and an 81.25% net revenue interest in approximately 136 acres in Franklin Parish, Louisiana (the “Holt Lease”).  Additionally, the compant acquired a 100% working interest and an 81.25% net revenue interest in approximately 40 acres in Richland Parish, Louisiana (the “Strahan Lease”)SGCA and owns the remaining 25% working interest.

An independent  reserve study completed 8/13/2008 by Aluko & Associates (Austin, TX) shows recoverable reserves of 76,877 Bbls oil net to the Company’s interest.

The Company is currently leasing the Dixon Tract (160ac), adjacent and contiguous to the Holt lease. To date more than 88% or the mineral interests have been leased.  Tradestar Resources, Inc. will acquire a 50% working interest from the Company upon completion of leasing and will operate the lease.  Current plans are to re-work two previously producing wells on the lease and re-activate an on-site salt water disposal well.

TEXAS: BARGE CANAL

The Company currently produces from two  Frio Sand wells (5800’) located on the Welder Lease.  The wells produce 30 BOPD along with 100 mcfgpd.  A gas lift system is utilized to produce the wells.  Gas not used in the gas lift system is sold.   The lease also contains one salt water disposal well (SWD).

JANSSEN

The Company owns a 3% working interest in the Janssen A-1 Well.  The Janssen produces around 250 mcfgpd from the Roeder Sand (Wilcox) at a depth of 10,300 feet.  PDNP Pettus sand (oil) is behind pipe at 4000’ and a possible gas sand was indicated on logs at 3060’.  Penasco also has the right to participate up to 5% on a non-promoted basis on any addtiiional wells that may be drilled on the lease.

KOLIBA

The Koliba is a new well prospect covering 143 acres over an anticlinal structure (target) that is located approximately 3 ½ miles southwest of Bloomington, Texas.  The Koliba Prospect lies in the North McFaddin Field, which, according to Texas Railroad Commission maps and records, hosts 87 productive oil and gas zones.  The Company has identified 3 target zones at 5880’, 5350’, and 4930’ under the Koliba/Ensley lease. Texas Railroad Commission records state 7 wells from these 3 target zones produced 390,426 barrels of oil and 2,472,481 MCF (thousand cubic feet) of gas between 1962 to 1989.  The Company plans to drill a direct offset to the abandoned Koliba #1 well to 6880 feet. 

The prospect which is both a structural and strategraphic trap that includes a four way closure. will be drilled approximately 250 feet from the original producing well (Koliba No.1).  The Koliba No. 2 new drill well is considered a low risk/high reward prospect due to its proximity to the previous producing well and the potential for multiple pay sand discoveries in the prolific Frio interval.

Recent *NEWS* from SGCA

Strategic American Oil Corporation Closes $1.05 Million Financing - November 17, 2009

President and CEO, Randall Reneau stated, "With now over $3.5 million raised over the past month, the company is in a position to fully execute its business plan and further develop its oil and gas properties. With the increase in the price of oil over the past six months and this cash in hand, we are excited about the future of Strategic American Oil Corporation." Read the entire news release HERE

Strategic American Oil Corporation Acquires Previously Producing Wells in Louisiana - October 28, 2009

Strategic American Oil Corporation Closes $2.5 Million Financing - October 16, 2009
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SGCA Management Team

This emerging resource company has a top quality management team leading them into the future. 
Here is a brief look at the key members of SGCA's leadership:

Mr. Reneau has been a director of our Company since April 17, 2006, and he has served as our President, Chief Executive Officer, Principal Executive Officer and Chairman of the Board since August 5, 2007. Mr. Reneau is a certified professional geologist and holds licenses to practice geology in the states of Texas, Washington and Alaska. He has more than 30 years combined mineral and oil and gas experience both domestic and foreign. Mr. Reneau served as President of Reneau Exploration and Development Company, Inc. ("REDCO") from 1980 to 1988. REDCO drilled and operated wells in Stephens County, Oklahoma and Navarro, Milam, Wilson and Guadalupe Counties in Texas. From 1988 to 1990, Mr. Reneau was employed as a senior consulting geologist with Western Mining Corporation's Canadian subsidiary, Westminer Canada. Mr. Reneau's role at Westminer Canada included mineral exploration in West Africa. From 1990 to 1999, Mr. Reneau served as Principal Geologist for Reneau and Associates, a Geo-Environmental firm. From 1997 to December 2003, Mr. Reneau served as senior consulting geologist for AZCO Mining, Inc., managing exploration projects in Mali, West Africa and Sonora, Mexico. From December 2003 to December 2004, Mr. Reneau served as Chief Geologist for Oromex Resources in Durango, Mexico. Mr. Reneau served as Chief Exploration Officer and a director of Uranium Energy Corp., a uranium exploration company publicly traded on the American Stock Exchange, from January 2005 to July 2007. Mr. Reneau has a B.A. in Geology from Central Washington University and an M.S. in Environmental Engineering from Kennedy-Western University. Mr. Reneau currently resides in Austin, Texas.

Johnathan Lindsay has been our Secretary since July 11, 2005. In addition, he served as our President, Treasurer and as our sole director from July 11, 2005 until April 17, 2006. He was subsequently reappointed as a director on April 17, 2007 and has also served as our Treasurer, Chief Financial Officer and Principal Accounting Officer since that date. Mr. Lindsay was responsible for organizing initial financing for our Company. From May 16, 2003 to August 31, 2006, Mr. Lindsay served as corporate secretary for Uranium Energy Corp., a uranium exploration company publicly traded on the American Stock Exchange, where he helped the company go public. From 1999 to 2004, Mr. Lindsay was employed by Alan Lindsay and Associates as Vice President, Marketing and Corporate Secretary. In 1997, Mr. Lindsay worked with the Investor Relations Group and for National Media, two North American public sector marketing firms. Following his position with National Media, he studied marketing and business management from 1998 to 1999 at the British Columbia Institute of Technology.

Alan Lindsay, who was our founding officer and director, resigned from his position as an officer and director on July 11, 2005. Alan Lindsay was subsequently reappointed as a director on April 17, 2007. Mr. Lindsay has extensive experience and expertise in the mining and bio-technology sectors. From May 2003 to the present, he has been the Chairman of Uranium Energy Corp., a uranium exploration company that has been publicly traded on the American Stock Exchange since September 2007. Since October 2001, Mr. Lindsay has served as Chairman and CEO of MIV Therapeutics Inc, a publicly-listed biomedical company focused on biocompatible coating technology for stents and medical devices. Since December 2005, Mr. Lindsay has served as a director of TapImmune Inc., a U.S. reporting company.

Mr. Lindsay was the founder of AZCO Mining, Inc., a base metals exploration company. Mr. Lindsay served as Azco's Chief Executive Officer and President from 1991 to 1994, its Chairman and Chief Executive Officer from 1994 to 1997 and its President, Chairman and Chief Executive Officer from 1997 to 2000. Azco was listed on the Toronto Stock Exchange in 1993 and on the American Stock Exchange in 1994. Mr. Lindsay currently serves as a director of Hana Mining Ltd., a TSX Venture Exchange reporting company. Mr. Lindsay also co-founded Anatolia Minerals Development Limited, a junior resource company that trades on the TSX, and New Oroperu Resources Inc., a junior resource company that trades on the TSX Venture Exchange.

Mr. Garcia has been a director since April 17, 2006 and has served as our Land Manager from February 2006 to the present date. In addition, Mr. Garcia served as our President and Chief Executive Officer from April 17, 2006 until August 5, 2007. From August 2004 to the present date, Mr. Garcia has also served as the Land Manager for Uranium Energy Corp., a uranium exploration company that has been publicly traded on the American Stock Exchange since September 2007. Mr. Garcia is an Independent Petroleum Landman with over thirty years experience in oil and gas title research, lease negotiations and acquisitions, contracts, exploration and production. Prior to August 2004, Mr. Garcia worked under contract for various companies, including Harkins & Co., Sun Oil Company, Oryx Energy Co., Texaco, Monsanto Exploration and Production Company, Trans Texas Energy, Kerr-McGee Oil & Gas Corp., and Mestena Oil & Gas. His corporate experience includes serving as Chief Executive Officer of Texas corporations with annual sales in excess of eighteen million dollars. Mr. Garcia attended the University of Texas-Austin, The University of Texas-Pan American and Texas A&M University-Kingsville. He currently resides in Austin, Texas.

Mr. Carter has served as our Vice President of Operations since December 20, 2006. Mr. Carter is a registered professional engineer with twenty-five years of management and engineering experience in oil and gas exploration, production operations, reservoir management and drilling. Mr. Carter served as Operations Manager and Operations Engineer for T-C Oil Company from 1990 to June 2003, where he managed significant production, supervised drilling, provided economic evaluations and designed project workovers, as well as performing numerous other engineering services. In July 2003, Mr. Carter started Carter E&P, LLC, an independent oil and gas company, where he has worked from 2003 to the present. Mr. Carter has a B.S. in Petroleum Engineering from the University of Texas at Austin. 
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Financial Highlights

Company Contacts

Corporate Headquarters:
Suite 2015-600 Leopard Street
Corpus Christi, Texas 78473
Telephone: (361) 884-7474 

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