Strategic Oil & Gas Ltd. (TSXV: SOG.V) closed its previously announced acquisition of certain assets in Strategic's core area at Steen River, Alberta, for cash consideration of approximately $23.6 million, effective as of December 1, 2012.

Strategic acquired a 100% working interest in 340 barrels of oil equivalent per day (83% light oil) of production and over 26 net sections of highly prospective land contiguous to Strategic's land position at Steen River. The acquisition also includes significant pipelines, facilities and roads.

According to the release, the acquired infrastructure and facilities ...