Energy Independence
The Natural Gas Solution
Strategic American Oil Corporation understands the need for the U.S. to develop its domestic energy resources for its own energy needs. The future development of natural gas is a significant part of this “energy independence” initiative. T. Boone Pickens recently stated, “We (the United States) have more gas than any other country in the world.” This leads to the obvious question, “Why does the United States continue to rely on foreign oil when its own resources can fulfill its energy needs?” The Gulf spill has changed and will likely continue to change the way the public looks at the risks and consequences of offshore drilling. This paradigm-shifting event has people questioning the U.S.’s energy policies much the same way the attacks on 9-11 had people questioning the U.S.’s security policies. Mr. Pickens further stated, “No energy plan will be complete unless it focuses on transportation, which is 70% of our foreign oil problem. I’m for American resources, and natural gas [used] in heavy duty fleet applications leads the way using a clean, abundant, and domestic resource to replace dirty foreign oil.”
Recently, Boone Picken's commented on President Obama's stance on foreign oil dependence and natural gas, “Today the President articulated the national security and economic threats associated with our escalating dependence on foreign oil. With the increasing price of gasoline, natural gas is an important domestic fuel at our disposal that can replace foreign oil to power heavy-duty fleet vehicles. Converting heavy-duty trucks and high-fuel use commercial fleet vehicles to natural gas can reduce our OPEC dependence now while we wait for technology to power the vehicles of tomorrow. It is clear President Obama is committed to weaning America off Middle Eastern oil, securing our own energy future and recognizes the role natural gas can play as a domestic transportation fuel. Recent unrest in the Middle East underscores the need to take action now and I’m encouraged by the President’s promise to secure America’s energy future and national security by reducing our dependence on OPEC oil.”
Strategic American Oil is committed to developing natural gas resources within U.S. borders and is working to take the next step by developing its Galveston Bay Energy (GBE) prospect. The GBE prospect is a 24,556 acres Frio Sand oil and gas field in South Texas. The Company’s engineering team believes the numerous non producing wells can be successfully reworked/re-engineered/re-entered to increase production and access new oil and gas targets.
The Company has identified numerous low-risk workover and drilling opportunities designed to sharply increase near-term production and cash flow, as well as proved reserves. The Galveston Bay property set totaling 24,556 gross acres (22,950 net acres) affords us the ability to rapidly grow the company for the benefit of our stockholders.
