Strategic Oil and Gas Announces Results from First Horizontal Oil Well

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Strategic Oil and Gas (SOG:TSXV) its horizontal Sulphur Point oil well at Steen River, Alberta, yielded a fluid rate of 730 bbl/d, including 550 barrels of oil per day. The well is expected to produce between 200 and 400 barrels of oil per day at first.

Canadian brokerage firm Raymond James interpreted any production above 100 barrels of oil per day as a positive sign.

Strategic Oil and Gas closed at C$0.73 on October 4 and has a 52-week high/low of C$1.40 and C$0.60, respectively.