Strategic American Oil Corp. is an oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. Leveraging its technical expertise, promising portfolio and strong financial condition, the company is in an advantageous position to experience remarkable growth in the near term future by aggressively leasing, drilling, and acquiring projects at various stages of development.
To date, Strategic American Oil has established a land portfolio with an aggregate gross 5,236 developed and undeveloped acres in Texas and Illinois alone. With this acreage, the company has identified new exploration targets and is applying advanced technology to maximize production. The company has also leased land positions hosting previously producing wells with the goal of enhancing or reestablishing production.
In September 2011, Strategic American acquired SPE Navigation I, LLC, which included over $4 million in liquid assets and a $10 million working capital bank line, in exchange for shares in the company. The previous owners, who founded and developed Hyperdynamics Corp. (NYSE: HDY), now own an even greater stake in Strategic American Oil as a result of this acquisition. To date, these owners have provided more than 70% of the company’s capital for acquisitions and are committed to long term shareholder value.
Over the last twelve months, Strategic American Oil has significantly expanded its oil and gas production. Revenues are also increasing at a rapid rate, putting the company well on its way to becoming a mid-tier U.S. oil and gas developer. In addition to expanding its current projects, Strategic American Oil continues to seek accretive acquisitions of production, reserves and other companies with promising hydrocarbon prospects.
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