Strategic Oil & Gas Ltd. Announces Closing of Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.


Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") is
pleased to announce that its previously announced non brokered private placement
of 20,195,000 common shares of Strategic at a price of $0.95 per common share
for proceeds of $19,185,250 (the "Private Placement") has closed. 


The net proceeds from the Private Placement and the previously announced bought
deal financing will initially be used to pay down bank indebtedness and then to
fund the Company's increase in its 2013 drilling program, to partially fund its
2014 capital program and for general corporate purposes. The shares issued under
the Private Placement will be subject to a 4 month hold period expiring on
January 27, 2014.


About Strategic

Strategic is a junior oil and gas company committed to growth by exploiting its
light oil assets in Canada. Strategic's common shares trade on the TSX Venture
Exchange under the symbol SOG.


This press release does not constitute an offer of the common shares or
flow-through shares that are the subject of the bought deal financing for sale
in the United States. The common shares and flow-through shares have not been
registered under the United States Securities Act of 1933, (the "1933 Act") as
amended, and may not be offered or sold within the United States absent
registration or an exemption from registration under the 1933 Act. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of the securities in any state in which such
offer, solicitation or sale would be unlawful.


ADDITIONAL INFORMATION

Additional information, including the Company's most recently filed AIF, is also
available at www.sogoil.com and at www.sedar.com.


Forward-Looking Statements 

This news release includes certain information, with management's assessment of
Strategic's future plans and operations, and contains forward-looking statements
 which may include some or all of the following: (i) forecasted capital
expenditures and plans; (ii) exploration, drilling and development plans, (iii)
prospects and drilling inventory and locations; (iv) anticipated production
rates; (v) expected royalty rate; (vi) anticipated operating and service costs;
(vii) the Company's financial strength; (viii) incremental development
opportunities; (ix) reserve life index; (x) total shareholder return; (xi)
growth prospects; (xii) asset disposition plans; (xiii) sources of funding,
which are provided to allow investors to better understand the Company's
business. By their nature, forward-looking statements are subject to numerous
risks and uncertainties; some of which are beyond Strategic's control, including
the impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, changes in environmental tax and royalty legislation,
competition from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and ability to access
sufficient capital from internal and external sources, and other risks and
uncertainties described under the heading 'Risk Factors' and elsewhere in the
Company's Annual Information Form for the year ended December 31, 2012 and other
documents filed with Canadian provincial securities authorities and are
available to the public at www.sedar.com. Readers are cautioned that the
assumptions used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements. The principal
assumptions Strategic has made includes security of land interests; drilling
cost stability; royalty rate stability; oil and gas prices to remain in their
current range; finance and debt markets continuing to be receptive to financing
the Company and industry standard rates of geologic and operational success.
Strategic's actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward-looking statements or if
any of them do so, what benefits that Strategic will derive there from.
Strategic disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strategic Oil & Gas Ltd.
Gurpreet Sawhney, MBA, MSc., PEng.
President and CEO
403.767.9000
403.767.9122 (FAX)
1100, 645 7th Avenue SW
Calgary, AB T2P 4G8


Strategic Oil & Gas Ltd.
Aaron Thompson, CA
Chief Financial Officer
403.767.9000
403.767.9122 (FAX)
1100, 645 7th Avenue SW
Calgary, AB T2P 4G8