Strategic American Oil Corp. (OTC:SGCA) has announced that it has completed the placement of all working interest in the Victoria Co., Texas Koliba prospect. The company plan to begin drilling operations in 2010. The company will retain 25% carried interest to chasing point through its wholly owned subsidiary Penasco Petroleum, Inc.
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Strategic American Oil Corporation is engaged in the exploration and production of natural resources. The company explores, acquires and develops oil and gas properties in the United States. It currently holds 14,691 gross acres of developed and undeveloped acreage.
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