Strata-X Ltd. Announces Results of Drilling Operations in Vallecitos Project San Benito County, California
GOLDEN, COLORADO--(Marketwire - Oct. 24, 2011) - Strata-X Ltd. (the company) (TSX VENTURE:SXE) through its wholly owned subsidiary Strata-X, Inc. has been informed by the Vallecitos Project operator (Patriot Resources) that the Rhino # 1 location in San Benito County, California has finished drilling at a depth of 6,977 feet and will be abandoned. Despite minor shows of hydrocarbons, the geophysical results indicated that the location was not ideally positioned for trapping economic quantities of hydrocarbons. The next well in the project is expected to begin drilling a new target within a week's time and will be located within the field limits of the F&I Pool.
Strata-X is a Edmonton, Alberta and Golden, Colorado based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, and production and development opportunities in California and Texas. Strata-X has 42,308,156 common shares outstanding and trades under the symbol SXE on the TSX.V
Public documents for Strata-X Ltd. (formerly known as Ozcapital Ventures Inc.) Can be found at SEDAR (www.sedar.com)