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The European Union urged Russia and other neighbors Monday to commit to long-term energy contracts that will guarantee them customers and investments while securing affordable oil and natural gas supplies for the EU in the decades ahead.

CALGARY, AB (MARKET WIRE) Strata Oil & Gas Inc. (OTCBB: SOIGF) announced today that it has acquired rights to oil sands for an additional 9 parcels of land in the Peace River oil sands region of Alberta, increasing the size of its Alberta oil sands holdings significantly.

GULF Arab countries are investing US$120 billion in the oil and gas sectors between 2006 and 2010, or 60 per cent of the total US$200 billion in planned investments, according to a top Saudi official.