Strategic American Oil Corp. is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana and Illinois. The company leverages 3D seismic data to locate and produce oil and natural gas in new and underexplored areas, and recently announced it has completed leasing the Oakdale NE (Northeast) Prospect in the Illinois Basin.
The company evaluated geologic and trend information to assess the well’s control and performance potential; in light of satisfying results, the company is now developing its internal engineering report in an effort to set-up drilling plans on the Oakdale NE acreage.
“The Oakdale NE prospect was identified and leased in-house. We are now in a position to establish development plans that will allow us to secure working interest partners to move the prospects toward the drilling stage. Initial evaluation of surrounding well control for this prospect shows tremendous promise and we look forward to developing it to its full potential,” Strategic American’s president and CEO Jeremy Driver stated in the press release.
Strategic American’s Oakdale NE Prospect is part of a larger plan to create an exploration and development program comprised of various risk profiles, including waterflood recovery projects, lower risk offset wells, step-out wells, and pinnacle reef targets.
The company said the projects will contribute to a company portfolio of low-cost/high-reward drilling locations in the Illinois Basin.
For more information visit www.strategicamericanoil.com
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