The directors and management of Strata-X Energy Ltd. are pleased to announce that the Company has signed a Purchase and Sale Agreement with an undisclosed third party (Seller) to acquire a producing horizontal well and approximately 23,595 net acres of exploration leases (the "Assets") adjacent to the Company's existing Vail Oil Project (Transaction).

The Purchase and Sale Agreement, which is subject to a number of conditions the Company anticipates meeting, including completion of the Company's due diligence on the Assets to be acquired, is expected to close no later than March 20, 2014 (Closing Date).

Tags: Strata-X Energy Ltd.