Strategic Oil & Gas Ltd. Announces Normal Course Issuer Bid

Strategic Oil & Gas Ltd. Announces Normal Course Issuer Bid 
CALGARY, ALBERTA -- (Marketwire) -- 08/16/12 -- Strategic Oil & Gas
Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) announced that
it has filed with the TSX Venture Exchange a Notice of Intention to
purchase its common shares from time to time in accordance with the
normal course issuer bid procedures under Canadian securities laws. 
Pursuant to the issuer bid, Strategic may purchase for cancellation
up to 9,355,000 of its common shares, representing 5% of the issued
and outstanding common shares of the Corporation, during the 12-month
period commencing August 20, 2012. The price which Strategic will pay
for any shares under the normal course issuer bid will be the market
price at the time of purchase. The purchases will be made through the
TSX Venture Exchange. The brokerage firm conducting the normal course
issuer bid on behalf of Strategic is Macquarie Capital Markets Canada
Ltd. Subject to regulatory approval, the normal course issuer bid
will commence on August 20, 2012 and terminate on August 19, 2013. 
The Corporation believes that the purchase of its shares at recent
market prices is a worthwhile investment since recent market prices
of its shares do not properly reflect the underlying value of its
assets and business. To the extent that the Corporation purchases for
cancellation such shares in accordance with the Normal Course Issuer
Bid, the holdings of remaining shareholders would represent an
increased proportion of the shares outstanding and, all other things
remaining equal, are expected to result in an increased net asset
value per share. 
About Strategic  
Strategic is a well-capitalized junior oil and gas company committed
to growth by exploiting its light oil assets in Canada. Strategic is
primarily focused on implementing development plans for its light oil
properties, while continuing to review other high impact light oil
resource plays. Strategic's common shares trade on the TSX Venture
Exchange under the symbol SOG. 
Further information with respect to the Company can be found on its
website at 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Strategic Oil & Gas Ltd.
Gurpreet Sawhney, MBA, MSc., PEng.
President & CEO
403.767.9122 (FAX) 
Strategic Oil & Gas Ltd.
Arn Schoch
403.767.9122 (FAX)
Cell: 403.870.1245 
Strategic Oil & Gas Ltd.
1800, 510 5th Street SW
Calgary, AB T2P 3S2
403.767.9122 (FAX)
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