Strata-X Ltd. Announces Results of Drilling Operations in Vallecitos Project San Benito County, California
October 24 2011 - 4:21PM
Marketwired
Strata-X Ltd. (the company) (TSX VENTURE:SXE) through its wholly
owned subsidiary Strata-X, Inc. has been informed by the Vallecitos
Project operator (Patriot Resources) that the Rhino # 1 location in
San Benito County, California has finished drilling at a depth of
6,977 feet and will be abandoned. Despite minor shows of
hydrocarbons, the geophysical results indicated that the location
was not ideally positioned for trapping economic quantities of
hydrocarbons. The next well in the project is expected to begin
drilling a new target within a week's time and will be located
within the field limits of the F&I Pool.
Strata-X is a Edmonton, Alberta and Golden, Colorado based
company and is engaged in the business of oil and gas exploration
and development with a variety of exploration opportunities in
North Dakota, and production and development opportunities in
California and Texas. Strata-X has 42,308,156 common shares
outstanding and trades under the symbol SXE on the TSX.V
Public documents for Strata-X Ltd. (formerly known as Ozcapital
Ventures Inc.) Can be found at SEDAR (www.sedar.com)
This news release contains forward-looking statements, which
relate to future events or future performance and reflect
management's current expectations and assumptions. The use of any
of the words "anticipate", "continue", "estimate", "expect", 'may",
"will", "project", "should", 'believe", and similar expressions are
intended to identify forward-looking statements. Such
forward-looking statements reflect management's current beliefs and
are based on assumptions made by and information currently
available to the Company. Readers are cautioned that these forward
looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to
differ materially from those expected and the forward-looking
statements included in this news release should not be unduly
relied upon. See "Risks and Uncertainties" in the Company's Filing
Statement dated August 30, 2011 available on SEDAR at www.sedar.com
These forward-looking statements are made as of the date hereof and
the Company does not assume any obligation to update or revise them
to reflect new events or circumstances save as required under
applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not
soliciting an offer to buy securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
Neither 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.
Contacts: Strata-X Ltd. Tim Hoops President 303-550-5582
Strata-X Ltd. Doug Walker Company Secretary
780-439-8995info@strata-X.com
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