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 August 2006
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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Property Acquisition
On August 9, 2006, the Company entered into a series of leases with the
government of the province of Alberta, Canada, pursuant to which the Company
acquired the right to explore for potential oil sands opportunities on certain
properties in the northern region of Alberta. The leases are known as Alberta
Oil Sands Leases L0085, L0086, L0087, L0088, L0089, L0090, L0091, L0092 and
L0093 (the "Leases"). The Leases were sold to the Company pursuant to a public
auction held by the government of Alberta. In consideration, the Company paid to
the Alberta government approximately CDN $156,000 (USD $138,000) upon entering
into the Leases and agreed to pay to the Alberta government an annual payment of
either CDN $3.50 per hectare or CDN $50, whichever is greater. The Leases are
also subject to royalties payable to the government of Alberta. The royalty is
calculated using a revenue-less-cost formula. In years prior to the recovery of
the project's capital investment, the royalty is 1% of gross revenue. Once the
project costs have been recovered, the royalty is the greater of 1% of gross
revenue or 25% of net revenue.
The Leases consist of a total of over 8,100 hectares of land in a region of
northern Alberta known as Peace River.
SECTION 9-FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of business acquired. Not applicable (b) Pro forma
financial information. Not applicable (c) Exhibits: Not applicable
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: August 17, 2006