Stratic Announces Shareholder Approval

 

TIDMSE. TIDMENQ 
 
RNS Number : 4822V 
Stratic Energy Corporation 
02 November 2010 
 

 
                                  NEWS RELEASE 
Stratic Announces Shareholder Approval of 
 Proposed Plan of Arrangement with 
                                  EnQuest PLC 
CALGARY and LONDON, November 2, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM: 'SE.') ("Stratic" or the "Company") announces that, at a special 
meeting held today, the Company's shareholders approved the previously announced 
plan of arrangement (the "Arrangement") with EnQuest PLC ("EnQuest") under the 
Business Corporations Act (Yukon) pursuant to which EnQuest proposes to acquire 
all of the issued and outstanding Stratic shares on the basis of 0.089626 of an 
EnQuest share for each Stratic share.  Of the total number of votes cast at the 
Meeting, 99.8% were voted in favour of the special resolution approving the 
Arrangement. 
The Company intends to apply to the Supreme Court of Yukon for a final order 
approving the Arrangement at a hearing scheduled for November 4, 2010.  If the 
final order is granted and all other conditions precedent are satisfied or 
waived at such time, the Company expects that the Arrangement will be completed 
and become binding upon all shareholders on or about November 5, 2010.  If the 
Arrangement becomes effective the Company will become a wholly-owned subsidiary 
of EnQuest and all Stratic shareholders will be entitled to receive EnQuest 
shares in exchange for their Stratic shares based on the exchange ratio of 
0.089626 of an EnQuest share for each Stratic share. 
Details of the Arrangement, including the conditions precedent to its 
completion, and the business of EnQuest are contained in the Information 
Circular and Proxy Statement of Stratic dated September 28, 2010.  Copies of the 
Information Circular and Proxy Statement, together with the letter of 
transmittal by which registered shareholders of the Company may surrender the 
certificates representing their Stratic shares in exchange for the EnQuest 
shares issuable under the Arrangement, were posted to shareholders and are also 
available electronically on SEDAR at www.sedar.com and the Company's website at 
www.straticenergy.com. 
For further information contact: 
Company: 
Kevin Watts, President and Chief Executive Officer 
 [phone] 
 John van der Welle, Chief Financial Officer 
                            [phone] 
 Mark Bilsland, Chief Operating 
Officer                                                   [phone] 
Public and investor relations: 
Patrick d'Ancona, M:Communications (London) 
[phone] 
 Roger Fullerton (Canada) 
                                   +1   952 929 7243 
Email: 
[e-mail] 
Financial advisor and NOMAD: 
David Kotler, Lazard 
                [phone] 
 Nick Fowler, Lazard 
                                                     [phone] 
Website:  www.straticenergy.com 
Notes to Editors: 
EnQuest (www.enquest.com) is an independent oil and gas production and 
development company focused on the UK Continental Shelf ("UKCS").  On 6 April 
2010 EnQuest was formed from the demerged UK North Sea assets of Petrofac 
Limited and Lundin Petroleum AB.  The EnQuest shares are listed on the London 
Stock Exchange and on the NASDAQ OMX Stockholm and are included in the FTSE250 
and OMX Nordix index on the respective exchanges.  EnQuest is completely 
unrelated to the company EnQuest Energy Services Corp., which was formerly 
listed on the TSX Venture Exchange. 
Reader Advisories: 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
This news release does not constitute or form part of an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of, securities to 
any person to whom or in any jurisdiction in which such offer, solicitation or 
sale would be unlawful. The securities to be offered have not been and will not 
be registered under the United States Securities Act of 1933, as amended (the 
"U.S. Securities Act"), or any state securities laws, and may not be offered or 
sold in the United States or to or for the account or benefit of a U.S. person 
unless registered under the U.S. Securities Act and applicable state securities 
laws or pursuant to an available exemption from, or in a transaction not subject 
to, the registration requirements thereof. 
Certain statements made herein constitute forward-looking statements, including 
statements concerning the anticipated dates for applying to the Supreme Court of 
Yukon for a final order approving the Arrangement and for completing the 
Arrangement.  Although the Company believes these statements to be reasonable, 
the assumptions upon which they are based may prove to be incorrect. 
Completion of the Arrangement is subject to a number of conditions precedent as 
more particularly described in the Information Circular and Proxy Statement of 
Stratic dated September 28, 2010.  The Arrangement could be delayed if any 
condition to closing is not satisfied on expected timelines and may not be 
completed at all if any such condition cannot be satisfied.  There can be no 
assurance that the Arrangement will be completed as proposed, or at all. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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