HOUSTON, May 26, 2011 (GLOBE NEWSWIRE) -- The Board of Directors of Strategic American Oil Corporation (OTCBB:SGCA) (the "Company") has appointed Sarah Berel-Harrop as the Company's new Secretary, Treasurer and Chief Financial Officer (the "Appointment").
Ms. Berel-Harrop's Appointment was made in conjunction with the Company's recent receipt from Johnathan Lindsay, a prior founder and director of the Company, of Mr. Lindsay's resignation of those same positions. Mr. Lindsay will continue on as a key consultant to the Company which will better allow Mr. Lindsay the needed time to assist the Company in the development of its recently acquired oil and gas assets while relinquishing much of his prior administrative role within the Company.
Jeremy G. Driver, Strategic American Oil President and CEO, stated, "Our company is pleased to have had Mr. Lindsay as a company founder, director and Executive Officer since almost inception, thereby providing us with consistency in approach and management. We look forward to continuing to work with Mr. Lindsay, as well as our new CFO, Ms. Sarah Berel-Harrop."
Ms. Berel-Harrop has 14 years of experience in financial accounting and reporting in both audit and industry positions. She received a B.A. degree from Cornell University and a Master in Business Administration from University of Texas – Austin. From 2006 to 2009, Ms. Berel-Harrop worked with Hyperdynamics Corporation. She was responsible for the company's financial accounting and reporting, and, from June 2008 through June 2009, served as the company's Chief Financial Officer. From July 2009 through March 2011, Ms. Berel-Harrop operated an accounting firm as a sole practitioner. From March 1, 2011 through the present, she has been Strategic American Oil Corporation's Controller. Ms. Berel-Harrop is a Certified Public Accountant licensed in the state of Texas. She is a member of the AICPA and the Texas State Board of Public Accountancy, Houston Chapter.
As a result of the Appointment, the Company's current directors and Executive Officers are as follows:
About Strategic American Oil
Strategic American Oil Corporation (OTCBB:SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company's team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential. Further information can be found on the Company's website at www.strategicamericanoil.com.
Safe Harbor Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
CONTACT: Corporate Offices: 800 Gessner, Suite 200 Houston, Texas 77024 www.strategicamericanoil.com Investor Relations: Investor Awareness, Inc. Tony Schor or James Foy, 847-945-2222 www.InvestorAwareness.com