CALGARY, AB / ACCESSWIRE / May 1, 2019 / Strata Power Corporation (“Strata”) (SPOWF) announced that it has changed its name from Strata Oil & Gas Inc to Strata Power Corporation. This is to reflect the new focus of Strata, which is on the development of clean technologies as applied to bitumen. Strata’s mission is to develop alternative uses for bitumen which maximize bitumen’s economic value, yet minimize its environmental impact.
Alberta’s oil sands are the third largest oil reserves in the world, and have been estimated at 165 billion barrels. And yet, while these bitumen reserves are of great value, the environmental impacts and social acceptance are areas which are increasingly being addressed by industry. Greenhouse gases, water usage, changes to air quality, and effluent discharge are specific areas relating to the environmental impact and risks associated with the manufacture of bitumen. Issues with social acceptance are increasingly requiring means of mitigation, as well. Strata seeks to address these market needs through the development and implementation of clean technologies as applied to bitumen.
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This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, 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. More information is included in Strata’s filings with the Securities and Exchange Commission which may be accessed through the SEC’s web site at www.sec.gov and with the Canadian Securities Administrators at www.sedar.com
SOURCE: Strata Power Corp.
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