Stratic Energy Share Discussion Threads

[deep powder] 20/4/2008 08:19

I think it depends on smooth progression on their numerous developments. I would have a year end target of 55/60p....

[spurberry] 19/4/2008 21:36

Hi Guys,

I do like the look of this, but realistically do we think £1 is possible by year end?

[deep powder] 17/4/2008 18:43

up 7% in Canada at the moment....

[chrisdgb] 17/4/2008 12:18

this is cheap, reserves 60p per share after debt....

not including other prospects such as Breagh etc.

BUY

[steelwatch] 17/4/2008 07:10

Results out.

Download

[steelwatch] 15/4/2008 18:24

Jim - don't leave it too long. I think Stratic is coming out of hibernation.

[steelwatch] 15/4/2008 10:05

CALGARY and LONDON, April 14, 2008 - Stratic Energy Corporation (TSX Venture:
'SE', AIM: 'SE.') ("Stratic" or the "Company") will release its 2007 year-end
results on Thursday, April 17, 2008 at 7:00 am London time (2:00 am Toronto time
and 12:00 am Calgary time).

[jimarilo] 13/4/2008 09:27

Morning Steel,

Have put this on my radar, overweight in IAE right now but may look to put some in here at some point

All the best !

[steelwatch] 13/4/2008 09:11

Good morning Jim. Maybe the Breagh appraisal will attract more attention. However, I see this as a more solid long term bet, though on the back burner for now.

[jimarilo] 13/4/2008 09:04

Hi Steel, my attention been brought here by the weekly small cap round up.

SE. looks very interesting

I guess the recent slide on the chart is nothing to do with fundamentals ?

N/sea looking good value again and RBS feeling happy to lend even in this financial climate, who also confirmed $60m to IAE this week

[steelwatch] 11/4/2008 14:31

Stratic Closes US$150 million Debt Facilities


CALGARY and LONDON, April 11, 2008- Stratic Energy Corporation (TSX Venture: '
SE', AIM 'SE.') ('Stratic' or the 'Company') announces that closing has occurred
in respect of its $150 million senior secured debt facilities, following
commitments secured and announced earlier this year.

The $150 million new bank debt facilities provided to certain subsidiaries of
Stratic comprise: a $110 million senior, secured Borrowing Base facility, a $5
million working capital facility and a $35 million Undeveloped Asset-Backed ('
UDAB') facility. The Borrowing Base and UDAB facilities have terms of five and
three years, respectively.

The Borrowing Base facility will be used principally to finance Stratic's share
of capital expenditure on its portfolio of development assets while the UDAB
Facility is available for funding expenditure on approved pre-development
assets. The facilities will also be used to retire existing bank debt.

The Borrowing Base facility has been provided by The Royal Bank of Scotland plc
('RBS') and Societe Generale Corporate and Investment Banking, as Joint Mandated
Lead Arrangers. RBS and Bank of Scotland Corporate are Mandated Lead Arrangers
for the UDAB facility. RBS is the Structuring Bank for the facilities, which
will be syndicated in due course.

[steelwatch] 10/4/2008 07:51

Blocks 42/8, 42/9, 42/12, 42/13 and 42/14 - Breagh
Stratic holds a 10% working interest in the UK North Sea blocks 42/12 under licence P.1328 and a 10% working interest in block 42/13 under licence P.1230. The other parties to licences P.1328 and P.1230 and their respective interests are Faroe Petroleum Limited (10%), Encore Petroleum Limited (15%) and Sterling Resources (65%) (though Sterling Resources is currently in the process of farming-out 15% of its working interest to RegEnergys Limited). Block 42/13 contains the Breagh discovery well, 42/13-2 drilled by Mobil in 1997.

Stratic also holds a 10% working interest in UK North Sea blocks 42/8, 42/9 and 42/14 under licence P.1327. The other parties to licence P.1327 and their respective interests are Encore Petroleum (15%) and Sterling Resources (UK) Limited (75%) ("Sterling Resources").

Stratic's interest in blocks 42/8, 42/9, 42/12 and 42/14 was acquired in December 2005 and is held for an initial term of four years. Stratics' interest in block 42/13 was acquired in December 2004 and is also held for an initial term of four years.Stratic has the right to apply for an additional four-year term, subject to satisfactory completion of the work programme and evidence of the licensees' technical and financial capabilities.

The Breagh gas discovery well 43/13-2 was drilled and tested by Mobil in 1997. The well encountered gas and was perforated and tested over five intervals within the Carboniferous Scremerston Sandstone at an unstimulated rate of 3 mmscfpd, demonstrating the potential for movable hydrocarbons. The low test rate has been attributed to formation damage during the drilling and casing of the well, but may also suggest marginal reservoir quality.

The Breagh accumulation tested by 42/13-2 is estimated to cover 7784 acres, and is referred to as Breagh western closure. Estimated gross unrisked contingent resources show a range of 99 to 348 bcf with a most likely estimate of 190 bcf. An earlier well 42/13-1 drilled by BP in 1968 to the east of the 42/13-2 well encountered 43 feet of wet Scremerston Sandstone. This well provides structural control and helps to identify the Breagh eastern closure, covering 1631 acres, and estimated to contain gross unrisked prospective resources ranging from 23 to 217 bcf, with a most likely estimate of 92 bcf.

Stratic and partners drilled an appraisal well on Breagh in the fall of 2007, reaching total depth of 8,047 feet measured depth (md) on Friday, November 2, 2007. The targeted Carboniferous section was encountered at 7,321 feet md, within 5 feet of prognosis. The upper reservoir section drilled with good indications of sand and significant gas shows, subsequently confirmed by open-hole logs. Test results are expected by mid November.

[steelwatch] 10/4/2008 07:33

Drilling contract signed for Breagh wells

CALGARY and LONDON, April 10, 2008 - Stratic Energy Corporation (TSX Venture: '
SE', AIM 'SE.') ("Stratic" or the "Company") announces that the operator for the
Breagh joint venture has secured the services of the ENSCO 70 jack up rig to
complete the planned 2008 drilling operations in Block 42/13 of the UK Southern
North Sea. The rig is expected to become available at the conclusion of its
current operations in late June to early July. This follows the successful
appraisal of the Breagh gas discovery by well 42/13-3 in the fourth quarter of
2007. The rig contract covers at least one well on each of East Breagh and West
Breagh. The contract also has the flexibility to permit drilling an additional
well if considered necessary, based on the results of this program.

The East Breagh well will target a possible extension of the Breagh structure
and has the potential to significantly increase the estimated GIIP for the
overall structure. The well on West Breagh is planned to prove additional
productivity from a high angle well, which will be designed as a future
production well.

Stratic's interest in the relevant licences is 10.0%, and the operator is
Sterling Resources Ltd.

[steelwatch] 09/4/2008 07:50

Finance looks to be sorted, so, onwards and, hopefully, upwards!

[deep powder] 03/4/2008 15:42

Results next week, looking to stop this boring drift..

[steelwatch] 03/4/2008 14:48

MCS risers to West Don challenge

By Upstream staff


Subsea engineering specialist MCS has bagged a £500,000 ($990,000) riser design and delivery job with Petrofac Energy Development at the Don South-West and West Don development in the UK sector of the North Sea.

MCS will design and deliver the complete riser system for the project.

The Aberdeen office of MCS will manage the delivery of seven flexible risers, umbilicals and associated ancillary equipment, including the diverless bend stiffener connection systems. It will also carry out the detailed design of the complete riser system to connects to the Northern Producer to the seabed.


--------------------------------------------------------------------------------
03 April 2008 12:32 GMT | last updated: 03 April 2008 12:32 GMT

[tpsev] 26/3/2008 16:37

Sterling Energy has closed a US $5 m finance deal to support its involvement in the UK Breagh gas development and another prospect called Doina.

Sterling issued 2 m additional shares at $2.50 per share to raise $5 m gross as part of an over-allotment option granted to under-writers as part of a larger $35 m share issued which closed on 13 March.

The total net proceeds of the offering and the over-allotment option of $37,450,000 after fees and expenses will be used towards the corporation's planned 2008 exploration, appraisal and development expenditures primarily relating to ongoing exploration, appraisal and development of Breagh and Doina, as well as for general corporate and working capital purposes," Sterling said.

Breagh is in UK Blocks 42/12 and 42/13 and following an appraisal well last year a US-based analyst examining the planned activities of field partner Stratic Energy has suggested the find could contain between 200 and 500 Bcf of gas.

[soulsauce] 26/3/2008 08:16

For some strange reason it looks as though this is headed for 30p. Might have to dip my toe in soon.

With production in the Black Sea, soon to be production from the PoValley and later West Don North Sea this will be looking very undervalued.

[steelwatch] 18/3/2008 08:33

2007 Year-end Financial Results - April 7, 2008

Annual General Meeting Toronto (venue TBD) - May 21, 2008

First Quarter 2008 Financial Results - May 21, 2008

Second Quarter 2008 Financial Results - August 14, 2008 (tentative)

Third Quarter 2008 Financial Results - November, 2008 (date TBD)

[steelwatch] 18/3/2008 07:59

Issue of US$42.5 million Subordinated Convertible Notes

CALGARY and LONDON, March 18, 2008 - Stratic Energy Corporation (TSX Venture:
'SE', AIM 'SE.') ("Stratic" or the "Company") announces that it has reached
agreement for a private placement of US$42.5 million Subordinated Convertible
Notes, due 2013, (the "Notes") to a group of US investors, subject to certain
conditions described below. The Company may issue further Notes on the same
terms up to the total maximum facility amount of US$50.0 million.

The Notes will be convertible, at the option of the holders, into common shares
of Stratic at a price of US$1.00 per common share, at any time until their
maturity. This represents a premium of 45% to yesterday's closing price of the
Company's common shares on the TSX-Venture Exchange, translated at the exchange
rate at that time.

The Notes will be redeemable by the Company after the second anniversary of
issuance, at par plus accrued interest to the redemption date, provided that the
average closing price of the Company's common shares on their primary exchange
for the preceding 20 trading days is greater than Canadian $1.75 per share.

Interest on the Notes is 9.0% per annum, payable semi-annually. At the Company's
option, interest may either be paid in cash or capitalised as additional
principal of the Notes, subject to the same interest and conversion terms. The
final maturity of the Notes is five years from the date of closing.

The notes will be subordinated to Stratic's senior secured debt and rank pari
passu with the Company's existing US$15.0 million convertible Notes due 2011.

Closing of the transaction is subject to full documentation, approval by the
TSX-Venture Exchange and limited further due diligence.

Ingalls & Snyder Value Partners L.P., an advisory client of Ingalls & Snyder
LLC, certain of whose other clients own 14,702,561 common shares of the Company,
has agreed to purchase US$25.0 million of the Notes.

Proceeds of the Notes will be available to fund Stratic's capital expenditure
programs and for general corporate purposes. In particular, the Company
anticipates using the proceeds to support its capital expenditure programs for
2008/09, principally in the United Kingdom and Dutch sectors of the North Sea.
While the majority of the expenditure on its development projects is expected to
be funded from Stratic's recently announced new debt facilities, the Company
considers it appropriate to maintain a balance of funding sources for its
capital expenditures. Work towards completion of those debt facilities is
progressing satisfactorily.

[steelwatch] 18/3/2008 07:52

First Gas from Ayazli field offshore Turkey

CALGARY and LONDON, March 18, 2008 - Stratic Energy Corporation (TSX Venture:
'SE', AIM 'SE.') ("Stratic" or the "Company") announces that gas production
commenced last Friday from its Ayazli gas field, in the Black Sea offshore
Turkey.

Ayazli is the third gas field to start production under Phase 1 of the South
Akcakoca Sub Basin development; the Akkaya and East Ayazli gas fields commenced
production last year. Initial flow rates from Ayazli support operator estimates
that production from the field will average over 10 mmscf per day. Production
from the two existing fields has recently been around 17 mmscf per day, gross.

Operator TPAO has also started well intervention operations to add further
perforations on the East Ayazli-2 well, in order to increase production from
that field.

[deep powder] 10/3/2008 14:29

adding some more soon, nice tuck away.