What the Keystone XL Pipeline EIS Means for Alberta's Producers
01 February 2014 - 9:22AM
Marketwired
What the Keystone XL Pipeline EIS Means for Alberta's Producers
Today's News Could Result in More Oil Sands, Carbonates
Projects
CALGARY, ALBERTA--(Marketwired - Jan 31, 2014) - Strata Oil
(OTCQB:SOIGF)(OTCBB:SOIGF), a leader in the exploration and
development of bitumen from carbonates, responded to the U.S. State
Department's environmental impact statement (EIS) regarding the
proposed Keystone XL Pipeline which was just released earlier
today. The State Department's EIS concludes that the proposed
Keystone XL Pipeline would have minimal impact on the environment
over the long term with no appreciable increase in carbon
emissions.
"The State Department's EIS findings represent a significant
step in moving the Keystone XL Pipeline project forward," said Ron
Daems, president of Strata Oil & Gas. "The starting point of
the project pipeline would put the Peace River region, including
Strata with its 3.4 billion barrel resource, in working proximity
to the Keystone XL Pipeline. Today's report further enhances our
belief that Strata is well-positioned to capture the upside of
commercial carbonate-hosted bitumen production."
Daems continued: "Combined with the recent accumulation of
sizeable positions in Alberta's leading bitumen producers by
several high profile investors, including Warren Buffett's $524
million stake in Suncor Energy, the leading bitumen operator in the
province, the positive momentum behind the oil sector continues to
be on an exciting upswing. The Keystone XL Pipeline EIS findings
should be great news for the more than $60 billion in proposed and
current oil sands projects already underway today and the more than
$207 billion in additional investment anticipated over the next 10
years. A positive decision on the Keystone XL Pipeline will mean
better economics for bitumen producers, and therefore we should see
more projects as a result."
The proposed Keystone XL Pipeline would give Alberta's bitumen
producers access to a pipeline stretching from Canada to the U.S.
Gulf Coast which would have the capacity to transport more than
800,000 barrels of crude per day, leading to thousands of jobs and
reducing U.S. reliance on oil imports from less stable regions.
Today's EIS report will set the stage for a 90 day review period
for the Obama administration to make a final ruling on the pipeline
project.
About Strata Oil & Gas
Strata Oil & Gas is a US-publicly traded company focused on
the exploration and development of heavy oil from carbonates. The
Company currently holds a 100% interest in 52,480 acres of oil
sands leases in the Peace River region of Alberta's Carbonate
Triangle. Strata's Cadotte project has been independently
evaluated, with a resource base of 3.44 billion barrels in-place
with 887 million recoverable barrels. Strata's existing world-class
Cadotte Central project of 56,000 barrels-per-day over 20 years is
valued at NPV $1.3 billion. For more information, go to the
Company's website at www.strataoil.com.
Strata Oil and Strata Oil & Gas are trademarks of Strata Oil
& Gas Inc. This announcement contains forward-looking
statements which involve risks and uncertainties that include,
among others, limited operating history, risks related to petroleum
exploration, limited access to operating capital, and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements made herein concerning
the foregoing are qualified in their entirety by reference to the
following Norwest Reports: Evaluation of Bitumen Resources Cadotte
Leases (2013), Resource Reclassification (2010), Bitumen Hosted
Carbonate Pilot Projects (2008), Preliminary Feasibility Study
(2008), Evaluation of Bitumen Resources Cadotte Leases (2007),
which have been filed with the SEC. More information is included in
Strata's filings with the Securities and Exchange Commission which
may be accessed through the SEC's web site at www.sec.gov.
Strata Oil & Gas Inc.Investor Relations1-877-237-5443 or
1-403-237-5443info@strataoil.comwww.strataoil.com
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