April 23, 2010 (FinancialWire) — Strategic American Oil Corp. (OTCBB: SGCA) has completed the purchase of the remaining 10% working interest in the company's Calhoun Co., Texas "Welder" lease. The company now owns 100% of the working interest in the producing 81-acre lease.

This 10% working interest purchase of the Welder Lease took place after the working interest investment had been fully recouped through production. An independent engineering report, conducted by Lonquist & Co. LLC, demonstrated additional proven behind pipe reserves that made this acquisition attractive.

Company president and CEO, Jeremy Driver, said, "The Welder Lease has been very profitable for the company as we reached payout in a 24-month span. Production continues at a generous and healthy rate."

Strategic American Oil Corp. (OTCBB: SGCA) is an exploration and development company with operations in Texas, Louisiana, and Illinois.

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