Bugle North well operations update

 

TIDMSE. 
 
RNS Number : 5487L 
Stratic Energy Corporation 
07 May 2010 
 

 
 
                                  NEWS RELEASE 
 
                       Bugle North well operations update 
CALGARY and LONDON, May 7th, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM: 'SE') ("Stratic" or the "Company") announces that Nexen, acting as 
operator of the well, will plug and abandon the 15/23d-15 Bugle North well in 
the North Sea. Stratic has a 7.5 per cent interest in this well. 
 
The Bugle North well was targeting the northern extension of the Bugle oil 
discovery that was appraised by the P815 group in 2008. The well reached a total 
depth of 15,145ft MD and was drilled close to the boundary between blocks 15/23c 
and 15/23d and encountered minor quantities of hydrocarbon in the target 
horizon. The cost of the well is equally split between the P1465 and P815 
partnerships. 
 
Separately, the P1465 partnership has approved a budget for the abandonment 
later in 2010 of the 15/24a-9 Bowmore appraisal well drilled last year. 
 
For further information contact: 
 
John van der Welle, Chief Financial Officer 
[phone] 
Mark Bilsland, Chief Operating Officer 
 [phone] 
 
Patrick d'Ancona, M:Communications 
[phone] 
 
Canadian Investor Relations 
Roger Fullerton 
                [phone] 
Email: [e-mail] 
 
Website: www.straticenergy.com 
 
About Stratic: Stratic Energy Corporation is a Canadian incorporated 
international oil and gas business which is engaged in the appraisal, 
development and production of petroleum and natural gas discoveries, 
supplemented by an exploration program. As a result of the worldwide credit 
crisis, which has particularly affected the Company in view of the capital 
intensive nature of its strategy, Stratic has been involved in a major 
restructuring program over the last twelve months to reduce debt levels and 
create financial flexibility. In future the business will be focused on the 
North Sea for its cash flow generating ability (West Don) and near term 
development investment opportunity (Crawford), whereas its exploration effort 
will be increased and concentrated on lower cost areas and potential company 
changing opportunities. Stratic's shares are listed on the TSX Venture Exchange 
in Toronto and on AIM, London and its principal operating office is in London, 
UK. 
 
Forward-looking statements 
 
This news release contains certain forward looking statements, which involve 
assumptions with respect to future plans, production levels and results, and 
capital expenditures. The reader is cautioned that all such forward looking 
statements involve substantial risks and uncertainties and the assumptions used 
in their preparation may not prove to be correct. Stratic's actual results could 
differ materially from those expressed in, or implied by, these forward looking 
statements and accordingly, the forward looking statements are qualified by 
reference to these cautionary statements. The forward looking statements 
contained herein are made as at the date of this news release. Stratic 
undertakes no obligation to update or publicly revise forward looking statements 
or information unless so required by applicable securities laws. 
 
TSX-V and AIM notifications 
 
The TSX Venture Exchange has not reviewed and does not accept responsibility for 
the adequacy or accuracy of the contents of this release. 
 
Stratic's Chief Operating Officer, Dr Mark Bilsland BSc (geology), PhD 
(petroleum petrophysics), and member of the SPE, is the qualified person who has 
reviewed and approved the technical information in this announcement for the 
purposes of the AIM Rules for Companies (incorporating the Guidance Note for 
Mining, Oil and Gas Companies). 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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