Strategic Oil & Gas Ltd. Refiles Annual MD&A

Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG)
announce that it has today refiled its annual MD&A for the year ending December
31, 2011.


The amended MD&A explains in more detail the Company's $12.3 million impairment
for the year 2011. $10 million of this loss related to the Company's Maxhamish
CGU, $2.3 million impairment has been recognized collectively on the Taber,
Conrad, Bistcho and Larne CGUs. No impairment loss was recognized on the
Corporation's largest CGU, Steen River.


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.


FORWARD LOOKING INFORMATION: Certain information set forth in this document,
including management's assessment of future plans and operations, contains
forward-looking statements. By their nature, forward-looking statements are
subject to numerous risks and uncertainties, some of which are beyond our
control. Those risks include, without limitation, the effect of general economic
conditions, risks associated with oil and gas exploration, development,
production, marketing and transportation, loss of markets, industry conditions
and competition, volatility of commodity prices, currency fluctuations,
imprecision of reserve estimates, environmental risks, competition from other
industry participants, the ability to access qualified personnel and oilfield
services, decisions by regulators, and the ability to access sufficient capital
from internal and external sources. Readers are cautioned not to place undue
reliance on the forward-looking statements as the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and actual results, performance or
achievements could materially differ from those expressed or implied in such
forward-looking statements and accordingly, no assurance can be given that any
of the events anticipated by forward looking statements will transpire or occur,
or if any of them do so, what benefit Strategic will derive there from. The
Company does not assume the obligation to revise or update this forward-looking
information after the date of this release or to revise such information to
reflect the occurrence of future unanticipated events, except as may be required
under applicable securities laws.