Strategic Oil & Gas Ltd. Announces Receipt of Repayment Notice and Expected Appointment of Receiver
Calgary, Alberta--(Newsfile Corp. - January 23, 2020) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that following discussions with GMT Capital Corp ("GMT"), manager of certain investment funds which hold $14.6 million of the Company's outstanding first-lien secured notes, GMT has delivered a Notice of Intention to Enforce Security under Section 244 of the Bankruptcy and Insolvency Act (Canada) whereby GMT sets forth its intention to enforce its security for...
2020-01-23 11:45 AM EST
Strategic Oil & Gas Ltd. Announces Management and Board Changes
Calgary, Alberta--(Newsfile Corp. - October 3, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") is pleased to announce that William Lancaster will be joining the Company as President and Chief Executive Officer effective October 17, 2019.Mr. Lancaster is currently the President and a member of the Board of Directors of GMT Exploration LLC ("GMT Exploration"), a private oil company based in Colorado. The Chairman of the Board of Directors of Strategic is a...
2019-10-03 4:00 PM EDT
Strategic Oil & Gas Ltd. Receives ASC Cease Trade Order
Calgary, Alberta--(Newsfile Corp. - May 7, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that a cease trade order has been issued to the Company by the Alberta Securities Commission on May 6, 2019 for failure to file annual audited financial statements for the year ended December 31, 2018, including the related management's discussion and analysis and CEO and CFO certifications (collectively the "Annual Filings"). The Annual Filings were required to be...
2019-05-07 6:33 PM EDT
Strategic Oil & Gas Ltd. Announces Transfer to NEX and Director Resignations
Calgary, Alberta--(Newsfile Corp. - April 15, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces that Mr. Rodger Hawkins and Mr. Michael Watsky have resigned from the Company's Board of Directors. Strategic wishes to thank Mr. Hawkins and Mr. Watsky for their years of service to the Company and wishes them well in future endeavors. The Company has six members remaining on its Board of Directors. Trading in the common shares of the Company on...
2019-04-15 5:16 PM EDT
Strategic Oil & Gas Ltd. Files for Creditor Protection Under the CCAA
Calgary, Alberta--(Newsfile Corp. - April 10, 2019) - Strategic Oil & Gas Ltd. and its wholly owned subsidiary, Strategic Transmission Ltd. (TSXV: SOG) (collectively, "Strategic" or the "Company") announces that it has obtained creditor protection under the Companies' Creditors Arrangement Act ("CCAA") pursuant to an Order granted by the Court of Queen's Bench of Alberta (the "Court") dated April 10, 2019. As a result of the Company's working capital deficit, limited cash flows from operating...
2019-04-10 6:19 PM EDT
Strategic Oil & Gas Ltd. Provides Financing Update
Calgary, Alberta--(Newsfile Corp. - March 7, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") provides an update to the Company's financing arrangements. In November 2018, the Company announced a non-binding letter of intent to provide up to $30 million of capital to Strategic by way of: (i) a first tranche of $15 million in 1.5 year first lien secured notes bearing interest at 12% per annum and payable quarterly; and (ii) a second $15...
2019-03-07 5:37 PM EST
Strategic Oil & Gas Ltd. Announces Year-End 2018 Reserves and Capital Program Update
Calgary, Alberta--(Newsfile Corp. - February 27, 2019) - Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") announces its oil and gas reserves as of December 31, 2018. CAPITAL PROGRAM UPDATEStrategic in the process of executing its capital program for the first quarter of 2019, which is focused on meeting current asset retirement obligations and conducting a three-dimensional seismic program on the west side of the Marlowe oil property. A significant portion of the funding...
2019-02-27 6:11 PM EST