Strata Oil Provides Update on Cadotte Project

CALGARY, ALBERTA, Jun 29 (MARKET WIRE) --
Strata Oil & Gas Inc. ("Strata") (OTCBB: SOIGF) has provided an update on
its Cadotte Project in the Peace River region of Alberta, a world-class
carbonate-hosted bitumen discovery.

"We are continuing to make excellent progress on our Cadotte Project as
our technical team moves forward with its decision on extraction
technology," said Manny Dhinsa, President of Strata. "Based on our
preliminary feasibility study, we know the project is very attractive
economically, with a discounted net-present value of $1.2 billion. We
have based our analyses on Cyclic Steam Simulation as the preferred
recovery-method, because of the extensive and successful testing that has
already been done to date. However we are in the process of assessing
more advanced technology which may result in even more favorable metrics
than we had originally expected."

Based on data from 57 wells, Strata's independently-generated economic
evaluation placed a Most Likely potentially recoverable portion of the
oil in-place at 517 MMSTB, based on an oil in-place estimate of 1.99
billion barrels.

"The magnitude of the Cadotte project is reinforced by the fact that our
initial numbers are only based on about 50% of the total Cadotte lease
area. Our attention in the coming months is not only to move towards
further production testing, but also to dramatically expand our focus to
include the rest of the Cadotte lease area," says Mr. Dhinsa.

Production for Strata's Cadotte Project is estimated to be a maximum of
approximately 56,000 barrels per day during the main period of
development. The production life is expected to exceed 20 years.

The Cadotte project is 100%-owned by Strata.

Strata Oil & Gas Inc. is a Canadian junior exploration company focused on
carbonate-hosted bitumen deposits in the Peace River area of Alberta,
Canada. Strata's current total land holdings consist of approximately
112,692 acres with 111,692 acres (approximately 165 sections) being
located in the Peace River area.

Strata Oil & Gas is a trademark of Strata Oil & Gas Inc. This
announcement contains forward-looking statements which involve risks and
uncertainties that include, among others, limited operating history,
risks related to petroleum exploration, limited access to operating
capital, and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied
by such forward-looking statements. All statements made herein concerning
the foregoing are qualified in their entirety by reference to the
Pre-Feasibility Study which ahs been filed with the SEC. More information
is included in Strata's filings with the Securities and Exchange
Commission which may be accessed through the SEC's web site at
http://www.sec.gov/.

Also see our website at www.strataoil.com.

Contacts:
Strata Oil & Gas Inc.
Investor Relations
(403) 668-6539 or 1-800-488-0032
Website: www.strataoil.com

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