CORPUS CHRISTI, Texas, Dec. 14, 2010 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA) (the "Company") is pleased to announce that the drilling contract has been executed and drilling preparations have begun for the Koliba No. 3 well, with expectations to commence drilling this month, depending on favorable weather conditions and rig availability. The Company has retained a 12.5% working interest for the well. The combined leased acreage (Koliba) consists of 79 acres covering an anticipated anticlinal structure (target) with offsetting production. The Koliba #3 is a direct offset to the Murphy Baxter, Koliba #1 well which produced from the 5,880 feet (target) zone.
Strategic American Oil Corporation Enters Into Drilling Contract For Koliba #3 Well
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