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SE. Stratic Eng

11.75
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Stratic Eng LSE:SE. London Ordinary Share CA8629281087 COM STK NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 11.75 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 11.75 GBX

Stratic Energy (SE.) Latest News

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Stratic Energy (SE.) Discussions and Chat

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Date Time Title Posts
08/11/201007:14STRATIC ENERGY CORPORATION920
27/11/200717:59Another new oil float - but will it rock your boat ?52

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Stratic Energy (SE.) Top Chat Posts

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Posted at 04/11/2010 18:17 by xclusive2
Not for me as i have 2 north sea plays in IAE and SQZ. Good luck to all SE holders.

Smarty
Posted at 02/11/2010 17:06 by steelwatch
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
+44 20 7766 7900
John van der Welle, Chief Financial Officer
+44 20 7766 7900
Mark Bilsland, Chief Operating
Officer +44 20 7766 7900
Public and investor relations:
Patrick d'Ancona, M:Communications (London)
+44 20 7920 2347
Roger Fullerton (Canada)
+1 952 929 7243
Email:
roger.fullerton@straticenergy.com
Financial advisor and NOMAD:
David Kotler, Lazard
+44 20 7187 2000
Nick Fowler, Lazard
+44 20 7187 2000
Website: www.straticenergy.com
Posted at 26/10/2010 15:40 by steelwatch
Voting Procedures

CALGARY and LONDON, October 26, 2010 - Stratic Energy Corporation (TSX Venture: 'SE', AIM: 'SE.') ("Stratic" or the "Company") wishes to remind shareholders of the forthcoming special meeting to be held on November 2, 2010 at which shareholders will be asked to vote upon the previously announced plan of
arrangement (the "Arrangement") with EnQuest PLC ("EnQuest"). The special
meeting is scheduled to be held at 10:00 a.m. (Toronto time) at the Toronto
Marriott Bloor Yorkville Hotel in Toronto, Ontario, Canada.

In order to proceed, the Arrangement must be approved by a majority of not less
than 66 2/3 % of votes cast by shareholders in person or by proxy at the special
meeting and, if endorsed, must also be approved by the Supreme Court of Yukon
pursuant to the arrangement provisions of the Business Corporations Act (Yukon).

Details of the Arrangement and the business of EnQuest are contained in the
Information Circular and Proxy Statement (the "Circular") dated September 28,
2010, which has been posted to shareholders. This document can be accessed at
www.sedar.com and on the Company's website www.straticenergy.com.

Details of the voting procedure, depending on the manner in which the Stratic
shares are held or registered, are set out in the "General Proxy Matters"
section on page 66 of the Circular. Shareholders are urged to ensure that their
instructions regarding the voting of their Stratic shares are properly
communicated to the appropriate person well in advance of the special meeting on
November 2, 2010.

The board of directors of Stratic has unanimously determined that the
Arrangement is in the best interests of Stratic and the Stratic shareholders,
and unanimously recommends that Stratic shareholders vote on favour of the
Arrangement. All of Stratic's directors and senior officers intend to vote
their Stratic shares in favour of the Arrangement.

For further information contact:
Company:
Kevin Watts, President and Chief Executive Officer
+44 20 7766 7900
John van der Welle, Chief Financial Officer
+44 20 7766 7900
Mark Bilsland, Chief Operating Officer
+44 20 7766 7900

Public and investor relations:
Patrick d'Ancona, M:Communications (London)
+44 20 7920 2347
Roger Fullerton (Canada)
+1 952 929 7243
Email: roger.fullerton@straticenergy.com

Financial advisor and NOMAD:
David Kotler, Lazard
+44 20 7187 2000
Nick Fowler, Lazard
+44 20 7187 2000

Website: www.straticenergy.com

Notes to Editors:
EnQuest is an independent oil and gas production and development company focused
on the UK Continental Shelf ("UKCS"). On April 6, 2010 EnQuest was formed from
the demerged UK North Sea assets of Petrofac Limited and Lundin Petroleum AB.
EnQuest shares are listed on the London Stock Exchange and on the NASDAQ OMX
Stockholm and are included in the FTSE250 index 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 holding the special meeting of
Stratic shareholders to consider the Arrangement, for applying to the Court for
a final order approving the Arrangement, for completing the Arrangement and for
the delisting of the Stratic shares from the TSX Venture Exchange and the
cancellation of their admission to trading on AIM. 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, including
shareholder, court and regulatory approvals and consents. The Arrangement could
be delayed if the Company is not able to obtain all necessary approvals and
consents on expected timelines, or not completed at all if any condition to
closing is not satisfied. There can be no assurance that the Arrangement will
be completed as proposed, or at all.
Posted at 10/10/2010 21:35 by steelwatch
wolterix - share price fixed ratio to the ENQ price.
Posted at 10/10/2010 20:43 by wolterix
golden cross on this I noticed? no nothing about the company tho'..
Posted at 27/8/2010 14:01 by sg31
Steel from memory Encore had money in escrow because they sold a company which held their share of Breagh.SE. didn't so they were paid in full.
Posted at 09/8/2010 07:23 by steelwatch
NEWS RELEASE

West Don Third production well

CALGARY and LONDON, August 9th, 2010 - Stratic Energy Corporation (TSX Venture:

('SE', AIM 'SE.') ("Stratic" or the "Company") announces that operator EnQuest
spudded the 211/18a-W4 well on the West Don field on 7th August, 2010. This
well is being drilled as a third production well.

The 211/18a-W4 well targets the southern area of the West Don field and
operations on this well are expected to be completed by mid to late September
2010. Oil is currently being produced from West Don from the two existing
production wells.
Posted at 03/8/2010 07:15 by 7kiwi
ENQ takes out SE.
Posted at 09/4/2010 16:50 by jak108
Any body willing to give a brief guidance re the near term developments that may have an impact on the Stratic sp!

I admit to losing interest in se. over the last few months as the share price tanked. As I see Longanesi is progressing reasonably albeit seems somewhat behind schedule. I know EnQuest (demerged from Petrofac) may be interested in acquiring some of the N Sea assets from se. Their seems to be some suggestion from recent 1st Energy note that Columbus may be up for sale too. This is what I have gleaned from a quick scan through the se. bb on advfn, Ivillage. Anything else that I have missed? I guess we are due 2009 annual results some time soon?

TIA to those willing to comment here. cheers
Posted at 26/8/2009 00:50 by westmoreland lad
Excuse a mo Steel -- a wee bit o/t -- but maybe not, as financial journalist Edmond Jackson, yesterday said ---

A key reason why I keep small to mid cap oil exploration and production companies (E&Ps) in the frame is scope for an attractive risk/reward profile. The underlying commodity prices tend to be volatile and hard to predict but there are times when factors combine to make an attractive prospect.

AIM-listed Faroe Petroleum (FPM) is currently interesting. The company effectively spun-off from Dana Petroleum (DNX), the North Atlantic Margin originating as a special project within Dana when Graham Stewart, Faroe's chief executive, used to be Dana's finance director. Dana retained a stake and raised it to 27.5% as the company's principal shareholder. I own shares indirectly via Dana, although Faroe is the one with potential to multiply in value given a market value of £73.5 million versus a portfolio of substantive prospects.

It has been announced that over last weekend, Faroe spudded an exploration well on the Glenlivet prospect in the West of Shetlands, with a second well, Tornado, due imminently. Analysts have estimated these two wells have scope to more than double Faroe's net asset value of 70p a share, which is in line with the current share price.

The shares have not raced up in anticipation of these high-potential prospects; the price is trading in a relatively low range compared with 150p to 200p from 2005 to 2008 when hopes ran higher. It would indeed be wise to take a cautious view of drilling, as even 'successes' may not be commercial, however Faroe has nine key wells over the next two years.

A few days previous, on 19 August, Faroe announced that it had entered into the second phase of exploration relating to two Norwegian licences, with commitments to drill two wells, T-Rex (30% interest) and Butch (15% interest).

The sense of momentum building up usefully is also implied by two grants of long-dated share options on 23 July, while the share price is relatively low. The chief executive was awarded 570,600 and the technical director 400,500 - both exercisable at 69p at any time from July 2012 to 2019. Performance criteria are attached.


In for the long-haul, too
Faroe is not just a short-term play: the nine-well programme includes scope to drill up to seven further provisional wells. The programme is fully funded, for example Faroe's recent sale of its interest in the Southern North Sea Breagh gas field raised £25.3 million which further bolstered cash reserves from (the end-December figure of) £16.7 million.

Of £79.4 million net assets at end-2008, £66.5 million represented intangibles and there was also £30.5 million current tax receivable, so the balance sheet needs proving up - however this is a typical state of affairs with emerging E&Ps. The 2008 income statement showed a pre-tax loss of £28.8 million although nearly £20 million of this involved exploration and evaluation expenses.

Faroe shares therefore need to be regarded as an intelligent speculation than having proven investment criteria. This is typically the case during the period when an oil and gas firm has more emphasis on 'E' than 'P' but on a five to 10-year view this can radically alter. Hence the ten-year options as management incentive to achieve robust value.

Bear in mind, losses are likely for at least the next two sets of annual financial results; with an E&P at this stage you are taking a view on the prospect to transform the asset base, the losses being expenditure to achieve this.

You can learn more by visiting faroe-petroleum.com, an award-winning website for its information. The group's risk/reward profile has improved through diversification from the Atlantic Margin (Faroe Islands and UK West of Shetlands) to the North Sea and Norway - quite reflecting key aspects of Dana's strategy. A 50 licence portfolio including partnerships with various majors with a strong track record in oil & gas exploration and development raises the odds that with patience, this share can multiply in value quite like Dana has done since 2002.

In a recent note, Panmure Gordon has set a 12-month price target of 200p although its being broker to the company and making a market in the shares means its comment is unlikely to be derisory. The target looks fair enough however, given the prospects involved also advances in seismic and drilling technologies. Perhaps, in the event of unsuccessful results in the short term, there could be some share price drift however the price is well down from last year's 210p high.

If you consider Faroe's last 12 months' news history, it is not as if there have been exploration setbacks to trigger and accentuate the fall in share price from 210p. It looks to be primarily a result of the fall in oil prices and general de-risking by investors in the second half of last year. Two directors used the weakness to buy 20,000 shares each, near 50p, which proved the low point.

So with a bit of luck at the drill bit, Faroe currently looks nicely poised. Even if the near-term wells do not prove commercial, there are plenty more prospects - hence any share price weakness possibly an even better long-term buying opportunity. Just bear in mind the aspect of gambling with an E&P at this stage, versus proven investment value.
Stratic Energy share price data is direct from the London Stock Exchange

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