UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13-a16 or 15d-16 under the Securities Exchange Act of 1934
For the month of December 2005
STRATA OIL & GAS INC.
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(Registrant's Name)
918 16th Avenue NW, Suite 408
Calgary, Alberta, Canada, T2M O3K
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F: Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
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Repayment of Indebtedness
On December 22, 2005 Strata Oil & Gas Inc. ("the Company"), a Canadian
corporation, repaid a $1,000,000 Secured Promissory Note plus interest of
$26,301. On August 24, 2005, the Company had borrowed $1,000,000 from Pacific
World Enterprises (the "Lender"). In consideration for such loan, the Company
issued to the Lender a Secured Promissory Note, in the original principal amount
of $1,000,000, with interest accruing at the rate of 8% per annum. The principal
and all accrued but unpaid interest under such Secured Promissory Note was due
and payable in full one year from the date thereof. As collateral security for
the payment of the amounts owed under such Secured Promissory Note, the Company
granted to the Lender a security interest in 60,000,000 shares of its common
stock pursuant to a Stock Pledge Agreement, dated of even date therewith. Upon
repayment, the 60,000,000 common shares granted to the Lender as security have
been returned to the Company and the shares have been extinguished.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
STRATA OIL & GAS INC.
By: _/s/_Manny Dhinsa_______
Name: Manny Dhinsa
Title: President
Date: December 28, 2005