Commencement of drilling on Bugle North

 

TIDMSE. 
 
RNS Number : 5559H 
Stratic Energy Corporation 
23 February 2010 
 

 
 
                                  NEWS RELEASE 
 
                    Commencement of drilling on Bugle North 
 
 
CALGARY and LONDON, February 23, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM 'SE.') ("Stratic" or the "Company") announces that operator Nexen 
spudded the 15/23d-15 well on the boundary between blocks 15/23c and 15/23d on 
22 February, 2010.  The well is being drilled as a joint well between two 
separate partnership groups and will satisfy a licence commitment for the P1465 
(Bowmore area) partnership operated by Nippon Oil Exploration and Production UK 
Limited on behalf of Stratic and other partners. 
 
The Bugle North well targets the northern extension of the Bugle oil discovery 
that was appraised by the P815 group in 2008. The well is to be drilled by the 
Glomar Arctic IV semisubmersible drilling unit to a total depth of approximately 
15,000 feet and is expected to take approximately 60 days to drill to that 
depth.  The cost of the well will be equally split between partnerships, 
exposing Stratic to 7.5% of the gross well cost estimate of approximately GBP25 
million ($3 million net to Stratic). 
 
 
 
 
 
 
TSX-V notification 
 
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). 
 
 
For further information contact: 
 
Kevin Watts, President and Chief Executive Officer                        +44 20 
7766 7900 
 
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 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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