CALGARY, ALBERTA--(Marketwire - Feb. 24, 2012) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") announced that it has issued 2,335,000 stock options to directors, officers and employees, of which 1,975,000 will go to insiders. Each option entitles the holder to acquire one common share of the Company for a period of five years at a price of $.90 per share. These options were issued in accordance with the Company's incentive stock option plan.

About Strategic

Strategic is a junior oil and gas company committed to growth by exploiting its light oil assets in Maxhamish, northeast British Columbia and Steen River and Amber in northwest Alberta. Strategic's highly regarded subsurface technical team 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".

Further information with respect to the Company can be found on its website at www.sogoil.com.