Strata Power Profile
Strata Power Corporation (Strata), an exploration stage company, principally engaged in the acquisition and exploration of oil and gas properties.
The company operates in the oil and gas industry with a focus on Canada’s heavy oil and carbonate-hosted bitumen deposits. As of December 31, 2022, the company had a partial interest in 7 oil sands leases, totaling 8,704 hectares, all located in the Peace River oil sands area. In addition, the company has a royalty interest in 10 oil sands leases.
The company has interests in oil sands properties located in the Peace River oil sands region in Northern Alberta, Canada.
The company is engaged in the acquisition, exploration and if warranted and feasible development of heavy oil projects in the Peace River oil sands region.
Oil Sands Leases
The company has focused a portion of its efforts on the exploration and development of carbonate-hosted bitumen rather than just focusing on sand-hosted bitumen.
Peace River Oil Sands Leases
The Peace River Properties consist of a total of 8,704 hectares of land in a region of northern Alberta known as the Peace River oil sands region.
The Peace River Properties are located in the Peace River oil sands region in Alberta approximately 40 to 50 kilometers away from the town of Peace River.
Peace River Projects
During the period May 2017 through December 2022, the company reduced its oil sands holdings in the Peace River properties (referred to as the ‘Cadotte Leases’), through either sale or allowing the leases to expire. The Cadotte Leases are consisted of 7 oil sands leases, totaling 8,704 hectares, with the Government of the Province of Alberta, Canada. All of the leases were for an initial 15-year term. The 7 leases that the company continues to hold a partial interest in have now been converted to non-expiring leases, subject to minimum annual lease payments being made to the Crown. Each lease grants the lessee the right to explore for, develop and produce hydrocarbons from the geological formations described in each lease.
Property Geology (Cadotte Leases)
Strata has focused its efforts on the bitumen and heavy oil resources contained in the Debolt/Elkton carbonate Carboniferous Formation and the Bluesky/Gething clastic Cretaceous Formation in the Cadotte area.
Cadotte Central
The company completed the drilling of its first four wells in the winter drilling season of 2006 – 2007 and engaged Norwest Corporation (‘Norwest’) of Calgary, Alberta, Canada to assist Strata with the planning and undertaking of its exploration of the Cadotte leases.
History
The company was incorporated under the laws of the state of Nevada in 1998. It was formerly known as Strata Oil & Gas Inc. and changed its name to Strata Power Corporation in 2018.
