Please do not post false information about SPRL. Verify your DD with Strat's PR's pasted below. There is speculation that some of these deals were never completed, however, we have been waiting for "official" word from the company to verify which deals are still on the table. Thank you.
Inese Ltd. Announces Take Over of F2 Broadcast Network, Inc.
Thursday July 15, 2:35 pm ET
TORONTO--(BUSINESS WIRE)--July 15, 2004--Inese Ltd. is pleased to announce that it has successfully completed a take over of F2 Broadcast Network, Inc. (Pink Sheets:FTWB - News), with the shareholders of Inese receiving a controlling interest in F2 Broadcast in exchange for their shares of Inese. F2 Broadcast has been renamed Strat Petroleum, Ltd. (Pink Sheets:SPRU - News) to reflect this change of control.
Company Up-Date From The CEO of Strat Petroleum, Ltd.
TORONTO, Jul 22, 2004 (BUSINESS WIRE) -- Now that Inese Ltd. has acquired control of F2 Broadcast and has renamed it Strat Petroleum, Ltd. (Pink Sheets: SPRU) it is the Company's intention to move from the Pink Sheets and become a fully reporting Bulletin Board Company.
Prior to being placed on the Pink Sheets, F2 Broadcast Network, Inc. was a fully reporting Bulletin Board Company. To become a fully reporting Bulletin Board Company once again, all SEC reports and financials must be brought up to date from the end of 2001. Due to the inactivity of F2 Broadcast since January of 2002 management expects this should not be a time consuming or a costly task. The Company will actively begin interviewing accounting firms with the ability to complete this task in the very near future.
Strat Petroleum, Ltd. was established to build on the strong contacts and relationships our management and other team members have in the Russian Federation and other CIS countries in the oil and gas industry.
Strat Petroleum's corporate strategy is to build strong asset value through the acquisition of licenses for oil and gas properties with proven reserves and where possible with producing or capped wells, initially in the Russian Federation. The Company will look to invest in the development of the fields through direct investment or the establishment of joint ventures. The Company will also look to leverage relationships with local refineries to secure refined oil product for sale to international markets, in order to generate revenues and cash flows. To achieve these objectives, the Company intends to follow an aggressive acquisition and sales strategy and to pursue the best available financing alternative for each opportunity in order to complete such transactions and to realize early returns on investment. Our aim is to be selective in securing those opportunities that have the lowest risk while diversifying sources of revenue through sale of crude oil and refined products.
The initial opportunity available is the right to acquire a working interest in one or more oil and gas fields in the Region of Orenburg, Russia, which is located in the Urals of Western Siberia. The Company is currently negotiating the terms and conditions of the investment and is in the process of raising the necessary funds to complete the acquisition.
Orenburg Oblast (Province) is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits there. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. However, substantial investment is required in order to further develop the region's oil and gas extraction industries. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested.
Your management team will be focused on developing the various opportunities presented in order to build a strong Company and above all increase shareholder value.
Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our office at (416) 419-6826.
Thank you for your interest in Strat Petroleum, Ltd.
Strat Petroleum, Ltd. Appoints Board of Advisors
TORONTO, Aug 2, 2004 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (OTC: SPRU) is pleased to announce the immediate appointment of the following individuals to the Company's Board of Advisors.
Mr. Valeryi D. Krukov-Corporate Legal Advisor
Mr. Krukov graduated from the Law School at University of Krasnodar, Russian Federation in 1999 and has risen through the professional legal system at an extremely quick rate. He worked with the District Attorney's office on cases presenting most difficulty with many complications. He then moved to become Head of the Law Department for the Ministry of Fisheries, until he was appointed as Deputy Chief Judge of the Moscow Supreme Court, where he served for the past two years. Currently, Mr. Krukov is an independent practicing attorney and is the lead advisor to Dresdner Bank for Russia. In Mr. Krukov's role, he will ensure the Company fulfills all the legal requirements of doing business in Russia; review and participate in negotiations of acquisitions and joint ventures the Company may enter into. Further, Mr. Krukov's knowledge and experience of the financial industry in Russia will enable him to assist in securing and closing project financing with the various financial institutions the Company will be approaching, both in Russia and Europe.
Mrs. Elena V. Korzun, Ph.D. Oil & Gas - Consulting & Lobbing
Dr. Korzun is the General Director of "AssoNeft", the Association of small and medium size oil & gas producers in Russian Federation which was established in 1994. The association has 45 member companies. These companies own more than 400 oil fields and has produced more than 16 million ton of crude oil in 2003. Approximately 20,000 people are employed by these companies. Dr. Korzun is considered as an expert in the laws & regulations for the oil and gas industry. She has successfully lobbied the Federal Government on many occasions on behalf of "AssoNeft", to increase opportunities, and advantages for the smaller independent producers, and government benefits for the workers. Dr. Korzun will assist the Company in establishing its operations in the Russian Federation, by introducing and promoting it to the other producers.
Victor P. Philipov, PhD., Geology - Consulting Geologist
Dr. Philipov is Dean of the Geological Faculty of the Gubkin Oil and Gas University in Moscow, and is considered as the expert in oil and gas in the Russian Federation. He has over 25 years experience with the Ministry of Oil and Gas Industry, where the last position he held was Chief Geologist. During his career he explored and documented geological findings for all regions of the former Soviet Union.
Dr. Philipov will assist the Company in identifying sites that have the greatest probability of reserves with least recovery costs. He also will ensure geological and feasibility studies contain necessary information and data to receive approval from the appropriate authorities.
Alexander A. Arbatov, PhD., Economics - Consulting
During the Soviet era, Dr. Arbatov was employed with various departments of the Academy of Science providing political, economic and diplomatic advice to the Government on relationships with the West. Since the breakup of the Soviet Union, Mr. Arbatov established and has been the Chairman of the Energy Center for the Russian Federation. This organization provides the Government with analysis and recommendations regarding the development of oil and gas sites in the Country, which are then provided to the likes of BP, Exxon, Mobil, Shell for investment and drilling.
Dr. Arbatov will advise the Company on projects that will provide the best possibility of success, and ensure feasibility studies completed meet all requirements for approval.
Strat is delighted to announce these nominations. With their extensive petroleum, legal, government and management backgrounds, the appointed advisors will enhance Strat's abilities to maximize its performance.
Strat Petroleum, Ltd. is a petroleum based company acquiring licenses for oil and gas properties with proven reserves and where possible with producing or capped wells initially in the Russian Federation.
Strat Petroleum, Ltd. Enters into Agreement to Acquire 24.5% Interest in an Orenburg Oil & Gas Property
TORONTO, Aug 3, 2004 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (OTCPS: SPRU) has entered into an agreement to acquire a 24.5% working interest of a large field, known as the Rozhdestvenskoe oil site, with proven reserves of:
• 75,217,000 bbls of crude oil
• 109 billion Btu of natural gas
• 483,000 metric tons of gas condensate
Gazprom, a major Russian oil & gas producer and refiner currently own the field in the Orenburg Region, West of the Ural Mountains. The field is also only 20 km from the Orenburg-Kopanka Pipeline with a major refinery located 60 km from the field. The site has been recommended as one of 15 most profitable oil fields discovered.
The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested. Strat Petroleum has identified several other opportunities that are under review.
Reserves and Production of the Site:
• Initial research of the area was done in 1986 and the first
well was drilled in 1987, which proved to have oil and natural
gas.
• Six more wells were drilled subsequently, of which four (4)
proved to be productive.
• In 1991, drilling occurred at deeper levels to establish the
seismic structure of the site.
• In 2001 the seismic structure was further evaluated with
positive results, resulting in the conclusion that production
of oil and gas would result from a program of deep drilling.
• The four wells have been capped currently. Prior to be being
capped the test production wells produced:
• 302,400 bbls of crude oil;
• 1.62 billion Btu of natural gas; and
• 25,000 metric tons of gas condensate
• These wells are capable of producing similar or greater
quantities upon being uncapped.
• The cost of extraction of crude oil will range from US $6.60
to $10.60 per bbl depending on the depth of the reserve
Strat Petroleum, Ltd. strategy is to build a strong asset value through the acquisition of oil & gas properties with proven reserves or producing/capped wells initially in the Russian Federation. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our office at (416) 419-6826.
Strat Petroleum, Ltd. Completing Due Diligence of Interest in Orenburg Oil & Gas Property
Tuesday August 31, 1:00 pm ET
TORONTO--(BUSINESS WIRE)--Aug. 31, 2004--Strat Petroleum, Ltd.'s (OTCPS:SPRU) agreement to acquire a 24.5% working interest of a large field, known as the Rozhdestvenskoe oil site, has been solidified and the Company's Advisory Team is currently reviewing data and other documentation made available. The field has proven reserves of:
75,217,000 bbls of crude oil 109 billion Btu of natural gas 483,000 metric tons of gas condensate Gazprom, a major Russian oil & gas producer and refiner, currently owns 51% of the field in the Orenburg Region, West of the Ural Mountains. The field is also only 20 km from the Orenburg-Kopanka Pipeline with a major refinery located 60 km from the field. The site has been recommended as one of 15 most profitable oil fields discovered.
The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested. Strat Petroleum has identified several other opportunities that are under review.
At the same time the Advisory Team is reviewing and evaluating a number of additional sites in the Orenburg Region, announcements about which will be made in the coming weeks.
Strat Petroleum, Ltd. has established its U.S. offices at:
245 Park Avenue
39th Floor
New York, NY
10167
Phone: (212) 209-7388
As a note to current and potential shareholders, we request your patience, as the opportunities your Management and Advisory Teams are working on are quite exciting and we believe will bring much value to the Company. However, completing the work required, due diligence to be performed and finalizing of legal agreements, does take time.
Strat Petroleum, Ltd. strategy is to build a strong asset value through the acquisition of oil & gas properties with proven reserves or producing/capped wells initially in the Russian Federation. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our New York office at (212) 209-7388.
Strat Petroleum, Ltd. Performing Due Diligence to Acquire Interest in Two Additional Orenburg Oil & Gas Properties
Wednesday September 8, 5:00 pm ET
TORONTO--(BUSINESS WIRE)--Sept. 8, 2004--Strat Petroleum, Ltd. (OTCPS:SPRU) has been offered the first right to participate in two additional fields in the Orenburg Region with proven and probable reserves exceeding 35 million barrels of oil each, and our Advisory Team is currently reviewing data and other documentation made available. The fields are believed to have a number of capped wells close to commercial production levels.
The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested. Strat Petroleum has identified several other opportunities that are under review.
Strat Petroleum, Ltd. strategy is to build a strong asset value through the acquisition of oil & gas properties with proven reserves or producing/capped wells initially in the Russian Federation. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our New York office at (212) 209-7388.
Strat Petroleum, Ltd. Performing Due Diligence to Acquire Interest in Additional Oil & Gas Properties
Wednesday September 15, 4:14 pm ET
TORONTO--(BUSINESS WIRE)--Sept. 15, 2004--Strat Petroleum, Ltd.'s (OTCPS: SPRU) due diligence is progressing well on the Rozhdestvenskoe oil site and the Company should have some positive news for its shareholders in the near future. The Company is also actively pursuing additional joint venture opportunities for oil fields in the Orenburg, Saratov, and other regions of the Russian Federation. In addition to Rozhdestvenskoe oil site, the Company is continuing to perform due diligence on the two additional fields in the Orenburg Region, and so far the information is positive.
To finance these opportunities the Company is in discussions with a number of financial groups and institutions both in Europe and North America.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Reports Results from Rozhdestvenskoe Oil Site
Friday September 24, 12:23 pm ET
TORONTO--(BUSINESS WIRE)--Sept. 24, 2004--Strat Petroleum, Ltd. (NQB: SPRU - News) has acquired an option to purchase an additional 24.5% interest of the Rozhdestvenskoe oil site.
Initial results indicate:
1. The field currently has two producing wells, #230 which produces 375 barrels per day and #236 producing 600 barrels per day, which generate over $500,000 per month in revenues.
2. The existing two wells have proven reserves of 5.7 million barrels and will require investment of $4 million and about 60 days to double the production.
3. The size of the field exceeds 600 sq. km and to date only 9.24 sq. km. have been explored.
4. Strat Petroleum, Ltd. will immediately participate in any revenues earned by the joint venture.
5. A more detailed and complete feasibility study will be performed to determine the full potential of the property.
The company has engaged the services of Emerging Markets Finance International, LLC, a US-UK financial advisory group from England to target and identify suitable strategic partners. Emerging Markets Finance has been active in various projects in the oil industry. We are excited with our new association and the expertise they provide. More information on EMFI can be obtained at www.emfi.biz.
The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. Only about 1% of proven reserves have been extracted, leaving significant quantities yet to be exploited.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Engages New Transfer Agent
Wednesday October 6, 4:13 pm ET
TORONTO--(BUSINESS WIRE)--Oct. 6, 2004--Strat Petroleum, Ltd. (NQB:SPRU - News) has engaged a new Transfer Agent:
Select Fidelity Transfer Services
38 Dorothy St.
Welland, Ontario
L3B3V7
The Investor Relations contact is:
Kathy Bassi
(905)-714-0058
Investor Relations/Corporate Communication
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd.'s Responds to Takeover Offer
Thursday October 28, 4:17 pm ET
TORONTO--(BUSINESS WIRE)--Oct. 28, 2004--H. Sam Hyams, President and Chief Executive Officer of Strat Petroleum, Ltd. (Pink Sheets: SPRU - News), announced today that Strat had received an unsolicited take-over bid circular from International Menu Solutions Corp. The bid offers to purchase outstanding Strat shares on the basis of a share exchange of thirty Strat shares for one International Menu share, plus a cash payment of $0.012 for each Strat share.
Mr. Hyams stated that while the offer appears inadequate, the offer nevertheless will be considered by the Board of Directors and the Board will advise shareholders of its recommendation to accept or reject the offer, within the next 10 days. Mr. Hyams noted, however, that there appears to be no current public information about the bidder, which apparently registered with the Securities and Exchange Commission in 1999 but stopped filing annual and periodic reports with the SEC in 2001, three years ago. Mr. Hyams also noted that the Board of Directors is enthusiastic about the business opportunities for Strat in the near future, particularly in the former Soviet Union, and has expressed its consensus that Strat remain independent.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Recommends Shareholders Reject Unsolicited Take-Over Bid
Thursday November 11, 3:50 pm ET
TORONTO--(BUSINESS WIRE)--Nov. 11, 2004--Strat Petroleum, Ltd (National Quotation Bureau: SPRU) today announced that the Board of Directors has considered the unsolicited take-over bid circular from International Menu Solutions Corp. and determined that it is inadequate and reiterated its consensus that Strat remain independent to pursue the business opportunities it has in the former Soviet Union and elsewhere. The Board noted that there is no current public information about the bidder, which apparently registered with the Securities and Exchange Commission in 1999 but stopped filing annual and periodic reports with the SEC in 2001. Accordingly, under all the circumstances presented, the Board of Directors recommends that shareholders reject the take-over bid.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Reverse Stock Split
Friday November 19, 4:13 pm ET
TORONTO--(BUSINESS WIRE)--Nov. 19, 2004--Strat Petroleum, Ltd. (National Quotation Bureau: SPRU).
Strat Petroleum, Ltd. today announced that the Board of Directors and shareholders have approved a reverse stock split of one common share for every thirteen (13) common shares. There will be no change in the par value of such shares or the number of authorized shares; fractional shares shall not be issued, but shall be rounded up to the next whole share. The reverse stock split will be effective November 30, 2004 for shareholders of record on November 19, 2004.
Shareholders will be required to exchange their stock certificates for post-split stock certificates and will be furnished transmittal documents.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Reverse Stock Split
Tuesday November 30, 3:58 pm ET
TORONTO--(BUSINESS WIRE)--Nov. 30, 2004--Strat Petroleum, Ltd. (National Quotation Bureau: SPRU).
Strat Petroleum, Ltd. today announced that the Board of Directors and shareholders have made the reverse stock split of one common share for every thirteen (13) common shares, to be effective as of December 10, 2004, due to certain procedural delays. There will be no change in the par value of such shares or the number of authorized shares; fractional shares shall not be issued, but shall be rounded up to the next whole share.
Shareholders will be required to exchange their stock certificates for post-split stock certificates and will be furnished transmittal documents.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Announces Management Update
TORONTO--(BUSINESS WIRE)--Feb. 3, 2005--Strat Petroleum, Ltd. (National Quotation Bureau: SPRL):
To all shareholders of Strat Petroleum, Ltd., thank you for your continued support over the past few months, despite limited news from the Company. You should know that your management team has been very busy in organizing all the elements required to complete the acquisition of interests in the Rozhdestvenskoe and other oil sites in the Russian Federation.
During these months your management team has been interviewing North American consulting firms who will assist in evaluating and confirming the profitability and viability of opportunities presented to the Company; evaluating alternative financing proposals to find good long term partners; having the team in Russia prepare documentation and other information for several additional opportunities beyond the Rozhdestvenskoe site.
Strat's management in association with its advisory team in Russia and North America will be completing the review and negotiations of these projects over the next few weeks, and management expects to make some very positive announcements.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Secures $2 Million Short-Term Lending Facility and $20 Million Long-Term Funding Facility
TORONTO--(BUSINESS WIRE)--Feb. 7, 2005--Strat Petroleum, Ltd. (OTCPS:SPRL) today announced that it has signed a Standby Equity Line Agreement (the "Agreement") that allows it, at its option, to issue shares to US-based investment fund The Nutmeg Group LLC (www.tngroupllc.com), up to a maximum value of US$20 million.
Under the terms of the Agreement, Strat Petroleum may, at its discretion, issue shares to Nutmeg at any time over the next two years. The maximum aggregate amount of the equity placements pursuant to the Agreement is $20 million. Subject to this limitation, Strat Petroleum may draw down up to 200% of the average daily volume (U.S market only) ("ADV") computed using the ten (10) trading days prior to the drawdown request. The facility may be used in whole or in part entirely at Strat Petroleum's discretion, subject to an effective registration.
Shares issued to Nutmeg will be priced at a 7.5% discount to the lowest daily Volume Weighted Average Price ('VWAP') of Strat Petroleum, Ltd. shares traded on each of the five days following a drawdown notice by Strat Petroleum. No commissions will apply to each issue of Strat Petroleum shares under the Agreement, however, a flat non-accountable expense allowance of $1,500 will be payable to Nutmeg at the time of issue.
In addition, Strat Petroleum has set in place a non-recourse loan with common stock as collateral, with a 49.875% net loan to value. Strat Petroleum, at its discretion may post up to eight million shares as collateral. The term of the loan is for one year, with an interest rate based on one-month LIBOR plus three percent, interest paid quarterly.
Randall S. Goulding, Managing Director of The Nutmeg Group, LLC, said "We are eager to assist Strat Petroleum in meeting its ongoing financing needs and we look forward to a long-term relationship with the Company."
The Nutmeg Group, LLC and its principals have been successful in raising capital through private placements and stock loans. With more than 30 million dollars under management, the Nutmeg Group, L.L.C. is a value-added private capital investment firm and a full service investment and financial consulting organization, dedicated to helping growth companies emerge as industry leaders. Staffed with an impressive array of diverse talents and a robust infrastructure, Nutmeg stands committed to facilitating the Company's success, as it is for all of its portfolio companies. Loren Comitor, President of CCM&A, Nutmeg's advertising and marketing affiliate, will endeavor to facilitate new marketing arrangements for the Company. Additionally, Nutmeg intends to enhance the Company's website and assure that the Company's image will reflect and be commensurate with its outstanding prospects.
"Our investment and ongoing commitment is prompted by our extreme optimism about the outlook for the Company and its capacity to ramp up its operation to seize opportunities" said The Nutmeg Group's Managing Director, Randall Goulding. "We believe the current valuation does not adequately reflect the enormous opportunities that exist for the company in both the near- and longer term."
"We are impressed with the Company's talented management resources, and for such a small company to have captured the opportunities -- is virtually unprecedented," Goulding continued.
"We plan to play an integral and continuing role in the Company's very promising future. We are pleased to be working in partnership with the Company to better position it to grow," said Goulding. "In fact," Goulding said, "the specific reason for this additional cash infusion is to focus on creating new business opportunities and joint ventures."
H. Sam Hyams, President and CEO of Strat Petroleum commented on the financing, "We are delighted to have signed these agreements that give us the option to draw down over $20 million over the next two years. The advantage of this method of structured financing is that although the funds are secured and available to us, any draw down of the facility will be totally at our discretion. We expect these funds to enable us to close several opportunities, including Orenburg, on our upcoming trip to the Russian Federation. The completion of acquisition of the 49% interest of the Rozhdestvenskoe oil site is the primary focus for Strat Petroleum."
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Agreement with Houston based Tejas Corporate Partners L.P.
Wednesday February 9, 4:54 pm ET
TORONTO--(BUSINESS WIRE)--Feb. 9, 2005--Strat Petroleum, Ltd. (OTCPS: SPRL) is pleased to announce that it has retained the services of the Tejas Corporate Partners L.P. (www.tejascorp.com), a highly-respected consulting firm, based in Houston, Texas.
"We are excited to retain the services of such a highly-respected consulting firm. We believe that Tejas Corporate Partners L.P. will be important to Strat Petroleum's aggressive acquisition and growth plans, which are solely intended to position us as a top-tier, global, independent oil and gas production company," said Sam Hyams, President and Chief Executive Officer of Strat Petroleum Ltd. "Tejas Corporate Partners is recognized for its unique expertise in strategic consulting to the independent oil and gas industry and has the respect of the business community necessary to assist us in achieving Strat Petroleum, Ltd.'s short and long term financial goals, adds Hyams."
Together Tejas Corporate Partners and Strat Petroleum Ltd.'s management are focused on an acquisition program targeting high quality, low risk oil and gas prospects provided via key strategic alliance partnerships. Tejas Corporate Partners' energy section is currently evaluating and conducting due diligence on a number of promising acquisitions for Strat Petroleum Ltd. Strat Petroleum Ltd. has begun implementing certain aspects of its growth and acquisition strategy developed with Tejas Corporate Partners' and expects to complete the acquisition and development of various properties this month.
"Tejas' Corporate management is focused and committed to effective development of the resource exploration, corporate development and financial governance required to help Strat Petroleum Ltd. build a truly growth-oriented business, said Michael Bradle," Tejas Corporate Partners' managing partner. "These acquisitions reflect Strat Petroleum's commitment to developing a series of strategic oil and gas plays into long term contiguous exploration and development campaigns," adds Bradle.
With offices in Lampasas, TX and Washington, DC, Tejas Corporate Partners is a full-service, global business consulting and strategic communications firm focused on strategies and solutions tailored to their client's specific needs. Tejas Corporate Partners' comprehensive, and integrated portfolio of services are designed to navigate the complex international, government affairs, communications and business development challenges their clients face.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Reports on Current Status and Forward Momentum
Friday February 11, 4:00 pm ET
Update on Orenburg Region
TORONTO--(BUSINESS WIRE)--Feb. 11, 2005--Strat Petroleum, Ltd. (OTCPS: SPRL) is pleased to announce that the Company, has progressed rapidly in its intent to firm acquisitions in the Orenburg region.
In line with its strategic growth objectives, Strat executives have met with the senior representatives of Gazprom in Orenburg. Both parties have confirmed their desired intent to continue in joint venture discussions. Preliminary discussions have led to interest in 4 additional fields aside from the Rozhdestvenskoe oil site, and Strat executives have requested for appropriate documentation in order to submit an official tender on 3 of the sites.
"These are very exciting times for Strat management and shareholders", according to Sam Hyams, President and Chief Executive Officer of Strat Petroleum Ltd. "The culmination of over a decade of hard work is only now beginning to see fruition". "The group from Tejas has already begun to do its due diligence on analyzing and verifying geological and legal documentation presented to us on these and other fields".
Additionally, the company has completed a Memorandum of Understanding to acquire a field in the northern region of Orenburg. The field covers over 300 km(2), with current estimates of 1.5 million metric tonnes of proven reserves, and 3.5 million metric tonnes of probable reserves. Strat will assume at least 75% and up to 90% of the field.
"It is our intent to keep our shareholders updated on our status and progress," stated Sam Hyams. "At this point in time, it is not prudent to discuss, in detail, the planned projects with Gazprom or the potential acquisition candidates for competitive reasons. However, we felt it important to inform the investment community of the Company's progress in both areas and its intention to maximize on all of its well-thought out relationships. Clearly, the focus is to execute on our plan to position Strat as a leader in the international oil and gas arena, which is the focus of the Company's efforts."
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Completes Agreement to Acquire 80% Profit Interest in an 11.25 Million Barrel Northern Orenburg Oil & Gas Property
Wednesday February 16, 4:01 pm ET
TORONTO, Feb 16, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (OTCPS:SPRL) has completed an agreement with a Company in Russia called the Industrial Scientific Centre to establish a 50/50 joint venture, and 80% net profit interest to develop a field with significant reserves known as the Ementajevskoje oil site, the license to which is currently owned by the Industrial Scientific Centre. The field has proven reserves of over 11.25 million barrels of crude oil, and probable reserves of over 26.0 million barrels.
Tejas Corporate Partners' geologist and senior management, having reviewed the seismic and other data presented, immediately recommended that Strat's Management sign the joint venture agreement. In addition, an initial review of data on six other fields presented by the Industrial Scientific Center, has led Tejas' team to advise Strat to participate in the tendering process on three of the fields. These other fields are similar and/or larger in scope than the Ementajevskoje oil site, and may also include producing wells.
Three drilling sites have already been identified on the Ementajevskoje oil site which covers over 300 square kilometers, and Strat Management expects drilling to commence in the next 60-90 days. In the interim, a feasibility study will be conducted to confirm total potential reserves of the field, including costs and development plans. Expected investment will range between $2.0 and $2.5 million for 3 wells, which should produce in excess of 500bbls per day per well.
The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million barrels, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million barrels of crude oil. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Reaching an Understanding to Acquire 50% Interest in Oil & Gas Drilling and Exploration Company in Orenburg
TORONTO--(BUSINESS WIRE)--March 8, 2005--Strat Petroleum, Ltd. (National Quotation Bureau: SPRL).
In line with our strategy of building shareholder value by acquiring assets or seeking out opportunities with significant potential and probability of success, the Company has reached an understanding to acquire a 50% interest in Saraktasch Oilgas Drilling Expedition Co., located in the Orenburg Region, through a share exchange.
Saraktasch is a drilling and exploration Company with six drilling rigs, and over 150 employees servicing, Companies like, Gasprom, Orenburghneftegas, TNK, Burgas, Gas & Oil Co. and others under long-term contracts. The Company also owns various other assets, such as land, storage facilities and equipment to support its operations.
The opportunity available to Strat Petroleum is to share in future revenues from contracts currently in place; grow the business through the investment in more advanced drilling, exploration and recovery technologies; and add other services to offer its clients. A further growth opportunity offered through this venture is to secure crude oil and other refined products for sale into local and export markets.
This venture will also provide many new opportunities in the Region for the Company to partner with its clients in other projects, and currently some of these opportunities are being evaluated to determine the level of commitment, if any, the Company will be making.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Agreement for Financing to Drill First Well at Ementajevskoje Oil Site
TORONTO--(BUSINESS WIRE)--March 15, 2005--Strat Petroleum, Ltd. (National Quotation Bureau: SPRL)
Strat Petroleum, Ltd. today announced the finalization of an agreement to receive funding to develop the first well at the Ementajevskoje field and complete a feasibility study of the site. The agreement finalized with the Aurora Capital Shefa Fund LP, allows the Company to immediately draw up to $1.5 million for the completion of drilling of the first well and provide working capital. The agreement allows Aurora Capital to participate in the project under one of two alternatives to be finalized at the completion of the feasibility study.
Under alternative one, Aurora would earn a 33% interest in the first well and upon 100% return of capital, its interest would be reduced to 25% for the life of the well; Alternative two would allow Aurora the right to a 5% royalty on gross revenues from well production for the life of the well and 10% in warrants of the invested amount to be exercised 12 months after investment at a 50% discount to market.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Asset Base for Oil Drilling Joint Venture
TORONTO--(BUSINESS WIRE)--March 22, 2005--Strat Petroleum, Ltd. (Other OTC:SPRL - News) today announced that preliminary review of the records of Saraktasch Oilgas Drilling Expedition Co., indicates the assets that will be available to the new joint venture for future drilling services are significant.
The Drilling Co.'s assets include the following:
a) 31 acres of land at US$40,500/acre = US$1.26 million;
b) 24 buildings at US$200,000 = US$4.8 million; and,
c) 6 Uralmash drilling units at US$1,500,000 = US$9.0 million.
Currently the Company drills between 18-20 wells a year at an average cost of $1 million per well.
Strat Petroleum's commitment is to grow the business by providing additional financing; investing in more advanced equipment for drilling and maintenance; and offering other services such as 2D and 3D seismic testing, computerized logging and detailing the fields, etc.
Strat has the opportunity to significantly increase revenues by bartering drilling services in exchange for crude oil at discounts to market. The oil may be exported to surrounding countries at world prices or refined into finished products which will generate even greater profit margins.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum Announces Development of Ementajevskoje Oil Site
TORONTO--(BUSINESS WIRE)--March 29, 2005--Strat Petroleum, Ltd. (National Quotation Bureau: SPRL).
Strat Petroleum, Ltd. today announced the initiation of the development of the Ementajevskoje oil field. With finalization of an agreement to receive funding and develop the first well, the company has begun a feasibility study of the site which should be completed sometime in April.
The Ementajevskoje oil site, the license to which is currently owned by the Industrial Scientific Centre, has proven reserves of over 11.25 million barrels of crude oil, and probable reserves of over 26.0 million barrels. The company has an agreement with the Industrial Scientific Centre to establish a 50/50 joint venture, and an 80% net profit interest to develop the field.
Upon completion of the feasibility study, the company will order the drilling rigs out to the site, and expects drilling to commence in early May. Production is expected to begin in late June.
"We are very excited to see our plans progress," Sam Hyams, President and Chief Executive Officer of Strat Petroleum Ltd was quoted as saying. "We had hoped to begin developing and drilling within 60 to 90 days of the announced agreement on February 16th of this year, and we feel confident with that timeline."
In other news, the Company announced its continued due diligence progress on analyzing and verifying geological and legal documentation presented to the company on other fields, and expects to release further updates in the very near future.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Source: Strat Petroleum, Ltd.
TORONTO, Apr 11, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (Pink Sheets: SPRL) is in discussions with a Russian Oil Company to acquire a 49% interest of the above said Company.
The latest geological study performed in 2004 by a European geological firm estimates proven reserves at 24.5 million barrels and probable reserves in excess of 140 million barrels of oil. The fields currently have two wells producing approximately 700 barrels per day, generating about $3 million of revenue per month.
This opportunity provides advantages to it, as the Company has a railway storage terminal for 14,000 barrels of crude oil; a major gas pipeline crosses the field, and other assets such as trucks, machinery and equipment. Strat is in the process of performing its due diligence and finalizing the terms and conditions of the acquisition.
Strat has also been in discussions with a private financing group and has received a letter of intent to fund the Company up to US $10 million to complete the acquisition, increase production from the two producing wells, and drill four new wells for which all approvals have been received. Further news about this opportunity will be released once due diligence and agreements have been completed.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com, or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Strat Petroleum, Ltd. Advances Negotiations with Financing Group for $10 Million Funding for Saratov Oil Site TUESDAY, APRIL 19, 2005 10:12 AM - BusinessWire
TORONTO, Canada, Apr 19, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (Pink Sheets: SPRL) issues update of financing for the Saratov oil site for up to $10 million line of credit towards acquisition and development of the site.
The Funding Group is currently completing its due diligence of the documentation received which includes licenses to the fields, preliminary valuation of the licenses by a British petroleum engineering services company, assets owned by the Company, and other reports and documents provided.
The Funding Group will be acquiring a 25% working interest in the wells being financed which are initially expected to be drilling of the two producing wells to bring them to commercial production status and then begin drilling of four new sites identified. The funding will not result in any further dilution as no new equity is expected to be issued to the Group.
Strat has also been in discussions with a private financing group and has received a letter of intent to fund the Company up to US $10 million to complete the acquisition, increase production from the two producing wells, and drill four new wells for which all approvals have been received. Further news about this opportunity will be released once due diligence and agreements have been completed.
Strat Petroleum to Retain the Services of Akin Gump Strauss Hauer & Feld LLP
TORONTO, Jul 14, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced it has retained the law firm of Akin Gump Strauss Hauer & Feld LLP (www.akingump.com) to provide legal services specifically dealing with the Company's involvement in Russian oil & gas projects. The Company engaged a new firm since a potential conflict of interest exists with another client of Macleod Dixon.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is one of the world's largest firms. With offices in 13 cities worldwide, including Moscow, the firm has a sophisticated, full-service and geographically diverse energy practice. Akin Gump represents clients ranging from Fortune 100 companies to small entrepreneurial concerns in all types of transactions related to the energy industry in the United States and throughout the world, including before all federal agencies involved in energy regulation and policy.
The group's practice encompasses several broad practice areas including: major domestic transactions, international energy transactions, exploration and production services, energy regulation such as environmental counseling and regulatory services, and energy litigation among others.
"Strat Petroleum is looking to aggressively move forward with its oil and gas projects in Russia and we believe the counsel of Akin Gump will be key in a number of our transactions within the Russian Federation," said H. Sam Hyams, President and CEO of Strat Petroleum. "We will be well served under the top-notch guidance of Robert Langer, who has advised Russian and foreign companies in structuring strategic and portfolio investments in Russia and the former Soviet Union, and has assisted Russian companies in raising capital on foreign debt and equity markets.
In other company news, Strat Petroleum also announced today that it has opened new offices just north of Toronto. The offices are needed to support an increase in staff as Strat negotiates several new projects for 2005 and beyond.
"Our strategy is to increase shareholder value through the acquisition of oil and gas properties with proven reserves," stated Hyams. "The new offices will accommodate the increase in staff who is working on some potential acquisitions. We look forward to a very successful year as we move closer towards production."
Strat's new phone numbers are:
Main number: (905) 761-9169
Fax number: (416) 628-8018
U.S. number: (646) 216-9751
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also signed a Memorandum of Understanding to acquire 50% of Saraktasch Oil & Gas Drilling Expedition Co., a drilling and exploration company. For more information, please visit the company website at www.stratpetroleum.com.
Strat Petroleum Acquires 30 Percent of Oil and Gas Service Company Located in the 'Energy Center of Russia'
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO, Jul 22, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced it has reached an agreement to acquire a 30% interest in an oil and gas service company located in the Tyumen Region of the Russian Federation. The Tyumen Region is known as the "energy center of Russia" because of its huge hydrocarbon resources.
The Tyumen Region has a population of over 3 million people. It has an area of 1.4 million km2 (8.4% of Russia's total area), which is equivalent to the combined areas of Germany, France, Italy, and Great Britain. The Tyumen Region stretches in the meridian direction of the Artic Ocean to the present Kazakhstan border. It actually divides the territory of the Russian Federation into two parts: the European part and Ural to the west, Siberia and Far East to the east.
"We believe we will generate immediate revenues and positive cash flows from this acquisition," said H. Sam Hyams, President and CEO of Strat Petroleum. "The Tyumen Region has been one area of the Russian Federation we have targeted on behalf of Strat due to its vast oil and gas reserves. Strat Petroleum will continue to focus on these types of companies which we find to be a fit for our business model, in fact, we are currently in negotiations with one of Russia's largest oil companies to provide services to one of the largest oil field's in the country. We expect negotiations to be completed in the near future at which time we will be able to disclose further details."
A major part of the Russian Federation's oil and gas reserves are concentrated in the Tyumen Region here in the extraordinary Samotlor, Kholmogorsk, Krasnoleninsk, and Fedorov oil fields and the Urengoi, Medvezhye, and Yamburg gas fields. In the estimation of specialists, high-grade hydrocarbon zones are present on the Gydan Peninsula and in the Karsk Shelf area of Yamalo. There are also great prospects associated with development of the Uvatsk project in the southern part of the region.
About Strat Petroleum
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also signed a Memorandum of Understanding to acquire 50% of Saraktasch Oil & Gas Drilling Expedition Co., a drilling and exploration company. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Strat Petroleum Announces Additional Details of Latest Acquisition
TORONTO, Jul 28, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced additional details of its most recent acquisition, located in the "Energy Center of Russia." Strat acquired a 30 percent interest in a drilling and service entity located in the Tyumen Region, Russia. Panorama-TEK, a specialty oil drilling company, acquired the remaining 70 percent. The new entity will be established as a limited partnership with further details to be announced in the next press release.
Panorama-TEK will be looking to Strat to offer technological and financial support as the company works on increasing its existing client base through this new venture. Strat will bring western technology and expertise to enhance its ability to service clients with the most modern and up-to-date equipment and methodology.
"We believe Panorama-TEK has the qualified management and technical staff to provide all services required by the clients they work with," stated Sam Hyams, CEO of Strat Petroleum. "In addition, Panorama-TEK has teams of service personnel to ensure proper maintenance and management of all oil sites which includes everything from initial project engineering to bringing a new well to production or re-working an existing well."
The Tyumen Region has a population of over 3 million people. It has an area of 1.4 million square kilometers (8.4 percent of Russia's total area), which is equivalent to the combined areas of Germany, France, Italy, and Great Britain. The Tyumen Region stretches in the meridian direction of the Artic Ocean to the present Kazakhstan border. It actually divides the territory of the Russian Federation into two parts: the European part and Ural to the west, Siberia and Far East to the east.
About Panorama-TEK:
Panorama-TEK Co. specializes in complete service of complicated drilling, namely controlled directional and horizontal drilling, flat and horizontal wells with great offset of the bottom about the top, wells with horizontal bottom, specific wells (jury works) and side holes from casing pipe in well-recovery drilling. The Company has existing contracts with several Russian companies, such as Orenburgazprom, Rospan and others. The company is licensed by FLS of Russia and by Federal Engineering Supervision of Russia. For more information, visit www.Panorama-TEK.com.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80 percent interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also signed a Memorandum of Understanding to acquire 50 percent of Saraktasch Oil & Gas Drilling Expedition Co., a drilling and exploration company. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Strat Petroleum Announces Multi-Million Dollar Contract to Service the Largest Oil Site in the Russian Federation
TORONTO, Aug 22, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced a multi-million dollar contract to service the largest oil site in the Russian Federation. The site is owned by Yuganstneftgaz, which was recently acquired by Rosneft as part of the dissolution of Yukos. Yuganstneftgaz manages 26 fields and has 11.63 billion barrels in proven oil reserves. The new joint venture between Strat and Panorama-TEK has negotiated one year contract for servicing of a number wells, with performance based option for an additional two years. Financial terms and other statistical data will be disclosed in the near future.
"Strat believes this is the first step to securing additional service contracts with other major oil companies in this and other regions," stated Sam Hyams, CEO of Strat Petroleum. "Based on securing the initial contract, and a number of other discussions and negotiations underway, this joint venture plans on becoming a significant provider of drilling and servicing in the oil and gas industry of the Russian Federation. Discussions are currently underway for contracts in the Orenburg Region to service fields for another major producer."
At Yuganstneftgaz, the average daily production from the fields exceeds 1 million barrels, which is about 1.6% of the world total. The fields have approximately 400 producing wells and significant opportunity for additional development of reserves. Recently, Rosneft purchased Yuganstneftgaz. Rosneft is a 100% state owned company and is now the third largest oil producer in the Russian Federation after the acquisition of Yukos' assets, the prize of which is the Yuganstneftgaz and its oil sites. The Company has an established growth plan which resulted in investment of close to US$1.5 billion in exploration and development, and production of over 150 million barrels of oil and gas condensate in 2004, which is expected to increase to 875 million barrels by 2015.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Strat Petroleum Releases Further Details on its Latest Joint Venture -- Contract is Valued at Over $6 Million
TORONTO, Aug 25, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced details of its multi-million dollar contract to service Yuganstneftgaz, the second largest oil site in the Russian Federation. The contract, which is part of a joint venture with Panorama-TEK for the servicing of 13 wells, is valued at approximately $6,500,000 for one year with a performance-based option for an additional two years.
The average daily production from the Yuganstneftgaz fields exceeds 1 million barrels, which is about 1.6% of the world total. The fields have approximately 400 producing wells and significant opportunity for additional development of reserves. Recently, the Yuganstneftgaz fields were purchased by Rosneft, a 100% state owned company and the third largest oil producer in the Russian Federation after the acquisition of Yukos' assets, the prize of which is the Yuganstneftgaz and its oil sites.
"The seven-figure agreement with Rosneft is going to help us gain traction in the Russian Federation oil and gas industry," stated Sam Hyams, CEO of Strat Petroleum. "We're confident we will be able to generate significant revenue which should give us the opportunity to initiate servicing at other properties in the near future."
Rosneft has an established growth plan which resulted in investment of close to US$1.5 billion in exploration and development, and production of over 150 million barrels of oil and gas condensate in 2004, which is expected to increase to 875 million barrels by 2015.
About Strat Petroleum
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Strat Petroleum Announces $5 Million Financing Agreement
Wednesday September 7, 8:30 am ET
NEW YORK, Sept. 7, 2005 (PRIMEZONE) -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced a financing agreement with two private investment groups for up to $5,000,000 in gross proceeds. The agreement calls for the funds to be obtained in stages with completion of the full $5 million scheduled for the end of November, 2005. The financing provides Strat with working capital for the joint venture with Panorama-TEK, along with evaluation and production at other oil properties.
We are committed to executing our business plan and securing this financing comes at an excellent time for us since we have a number of outstanding opportunities within the Russian Federation that will give us a distinct advantage over our competition,'' stated Sam Hyams, CEO of Strat Petroleum. ``We are aggressively moving forward with a number of exciting oil and gas development and drilling projects which we hope we can announce shortly. Focusing on creating further shareholder value and communicating with our loyal shareholders are also top priorities for us as well.''
Recently, Strat announced a $6.5 million joint venture with Panorama-TEK for the servicing of 13 wells, at Yuganstneftgaz, the second largest oil site in the Russian Federation. The contract is for one year with a performance-based option for an additional two years plus an opportunity to service between three and four times the number of wells. The average daily production from the Yuganstneftgaz fields exceeds 1 million barrels, which is about 1.6% of the world total.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit http://www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Strat Petroleum Forms 50/50 Joint Venture for Acquisition of Oil Sludge Reservoirs in the Republic of Bashkorstan
Monday April 24, 4:17 pm ET
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO--(MARKET WIRE)--Apr 24, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced it has formed a joint venture with a Russian Company that has registered a Limited Liability Company in the Republic of Bashkorstan with the purpose of acquiring reservoirs of oil sludge which will be reprocessed into finished products such diesel fuel, gasoline and other by products. The joint venture entity called "Strat Nafta Ufa" (SNU), has acquired two reservoirs totaling approximately 300,000 metric tons, which has high crude oil content an official market value of approximately $80 per metric ton or close to $24 million in total value. SNU is in discussions with the various local refineries and an Agency of the Ministry of Environment to acquire a further 1.2 million metric tons of reservoirs.
The Republic of Bashkorstan is located in the Southern part of the Urals along the line of Europe and Asia. Its area is 143,600 km2. The capital is Ufa. The Republic of Bashkorstan is a sovereign state under the jurisdiction of the Russian Federation.
Bashkorstan annually produces around 130 million barrels of oil and possesses about 10 percent of Russia's refinery capacity. Russia started refining crude oil in Bashkorstan in the Ufa region initially. The Region has three major oil refineries and several chemical plants that generate oil sludge of approximately 10% of the annual amount of oil processed.
While major investment is being made by Russian refineries in equipment to improve the efficiency of their refineries, the sludge reservoirs remain undisturbed and are constantly being added to. Even with capital investment being made to upgrade the equipment in the antiquated refineries, efficiency may improve to 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
Current more advanced technology allows the 10% of unrefined crude oil sludge to be further refined to 98%-99% efficiency resulting in optimum recovery of oil or refined oil products. With rising oil prices it has become lucrative to recover previously unrefined crude oil that has been accumulated in sludge reservoirs. Furthermore, with environmental remediation concerns, further refining of oil sludge reservoirs becomes evidence of good corporate citizenship with the recovery of oil products found in the oil sludge reservoirs being a good financial byproduct.
The Company wishes to thank its shareholders for their loyalty and continued support despite no news releases being made for the past several months, said H. Sam Hyams, President and CEO of Strat Petroleum. Management has been diligently pursuing opportunities that would result in revenues and cash flows in the shortest possible time, and the processing of the oil reservoirs is expected to accomplish this objective.
The joint venture is in negotiations with several of entities to establish a new joint venture for investment in processing equipment and should complete the agreements and financing within several weeks.
Management has been cautious in ensuring that the viability and probability of success of each project it has pursued is realizable, and for this reason after completing due diligence on projects it announced in the past found a number of undisclosed liabilities and other risks that it would not have been prudent to make the necessary investment.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Investor Relations:
Mark Besner
905-761-9169 ext.222
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Acquires Additional Oil Sludge Reservoirs in the Republic of Bashkorstan and Receives Approval to Build
Thursday April 27, 4:01 pm ET
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO--(MARKET WIRE)--Apr 27, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced that its entity in the Republic of Bashkorstan, Strat Nafta Ufa (SNU), has acquired three addition reservoirs totaling approximately 450,000 metric tons. Based on the official market value of approximately $80 per metric ton the value of the reserves acquired are close to $36 million. SNU continues its discussions with the various local refineries and an Agency of the Ministry of Environment to acquire a further 1 to 2 million metric tons of reservoirs.
In addition, SNU has received Government approvals to construct its processing plants at the locations of the sludge reservoirs.
Further, samples from the reservoirs were tested by the Regional "Engineering and Innovation Association" Ecological Programs of the Republic of Bashkorstan and in a report dated April 12, 2006, indicated that older reservoirs of sludge should result in 50% of the processed raw material producing 50% heating oil, 20% diesel fuel, 20% gasoline and 10% bitumus, based on certain available technology. In the future with the purchase of fresh sludge, close to 100% of the raw material should produce the same percentages of end products. Based on current market prices in the Russian Federation, the total reserves acquired have the potential to generate close to $125 million over the next three to five years.
The Republic of Bashkorstan is located in the Southern part of the Urals along the line of Europe and Asia. Its area is 143,600 square km. The capital is Ufa. The Republic of Bashkorstan is a sovereign state under the jurisdiction of the Russian Federation.
Bashkorstan annually produces around 130 million barrels of oil and possesses about 10 percent of Russia's refinery capacity. Russia started refining crude oil in Bashkorstan in the Ufa region initially. The Region has three major oil refineries and several chemical plants that generate oil sludge of approximately 10% of the annual amount of oil processed.
While major investment is being made by Russian refineries in equipment to improve the efficiency of their refineries, the sludge reservoirs remain undisturbed and are constantly being added to. Even with capital investment being made to upgrade the equipment in the antiquated refineries, efficiency may improve to 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
Current more advanced technology allows the 10% of unrefined crude oil sludge to be further refined to 98%-99% efficiency resulting in optimum recovery of oil or refined oil products. With rising oil prices it has become lucrative to recover previously unrefined crude oil that has been accumulated in sludge reservoirs. Furthermore, with environmental remediation concerns, further refining of oil sludge reservoirs becomes evidence of good corporate citizenship with the recovery of oil products found in the oil sludge reservoirs being a good financial byproduct.
The joint venture continues negotiations with several entities to establish a new joint venture for investment in processing equipment and should complete the agreements and financing within several weeks.
Management has been cautious in ensuring that the viability and probability of success of each project it has pursued is realizable, and for this reason after completing due diligence on projects it announced in the past found a number of undisclosed liabilities and other risks that it would not have been prudent to make the necessary investment.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Investor Relations:
Mark Besner
905-761-9169 ext.222
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Acquires Additional Oil Sludge Reservoirs in the Republic of Bashkorstan and Receives Gov't Approval to Process
Thursday April 27, 6:10 pm ET
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO--(MARKET WIRE)--Apr 27, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced that its joint venture entity in the Republic of Bashkorstan, Strat Nafta Ufa (SNU), has acquired three additional reservoirs totaling approximately 450,000 metric tons. Based on the official market value of approximately $80 per metric ton the value of the reserves acquired are approximately $36 million. SNU's total reserves now amount to approximately 750,000 metric tons, with an approximate value of $60 million. SNU continues its discussions with the various local refineries and an Agency of the Ministry of Environment to acquire an additional 1 to 2 million metric tons of reservoirs.
Along with the acquisitions, SNU has received the required Government approvals to construct its processing plants at the locations of the sludge reservoirs.
Samples from the reservoirs were tested by the Regional "Engineering and Innovation Association" Ecological Programs of the Republic of Bashkorstan in a report dated April 12, 2006, indicating that older reservoirs of sludge should result in 50% net processed product consisting of heating oil (50%), diesel fuel (20%), gasoline (20%) and bitumen (10%), based on certain available technology. In the future, with the purchase of fresh sludge, the raw material should produce 95% or greater net processed end product with similar breakdown. Based on current market prices in the Russian Federation, the total reserves acquired have the potential to generate over $125 million over the next three to five years.
The Republic of Bashkorstan is located in the Southern part of the Urals along the line of Europe and Asia. Its area is 143,600 square km. The capital is Ufa. The Republic of Bashkorstan is a sovereign state under the jurisdiction of the Russian Federation.
Bashkorstan annually produces around 130 million barrels of oil and possesses about 10 percent of Russia's refinery capacity. Russia started refining crude oil in Bashkorstan in the Ufa region initially. The Region has three major oil refineries and several chemical plants that generate oil sludge of approximately 10% of the annual amount of oil processed.
While major investment is being made by Russian refineries in equipment to improve the efficiency of their refineries, the sludge reservoirs remain undisturbed and are constantly being added to. Even with capital investment being made to upgrade the equipment in the antiquated refineries, efficiency may improve to 75% - 80% recovery at best. This still leaves about 20% - 25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
Current more advanced technology allows the unrefined crude oil sludge to be further refined to 98% - 99% efficiency resulting in optimum recovery of oil or refined oil products. With rising oil prices it has become lucrative to recover previously unrefined crude oil that has been accumulated in sludge reservoirs. Furthermore, with environmental remediation concerns, further refining of oil sludge reservoirs becomes evidence of good corporate citizenship with the recovery of oil products found in the oil sludge reservoirs being a good financial byproduct.
The joint venture continues negotiations with several entities to establish a new joint venture for investment in processing equipment and should complete the agreements and financing within several weeks.
Management has been cautious in ensuring that the viability and probability of success of each project it has pursued is realizable, and for this reason after completing due diligence on projects it announced in the past found a number of undisclosed liabilities and other risks that it would not have been prudent to make the necessary investment.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Investor Relations:
Mark Besner
905-761-9169 ext.222
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Continues Aggressive Pace of Acquisitions
Thursday June 1, 11:34 am ET
TORONTO--(MARKET WIRE)--Jun 1, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced that its joint venture entity Strat Nafta Ufa (SNU), has acquired additional reservoirs totaling 250,000 metric tons in the Republic of Bashkorstan.
"Seeing the lucrative nature of this highly specialized niche, several European institutional entities are now in advanced negotiations with our joint venture to establish a new partnership for the purpose of investing in processing equipment," said Sam Hyams, CEO of Strat Petroleum, "and within weeks, the agreements and financing should be completed." Initial indications are for an investment of at least $10 million for the additional purchase of sludge and sludge processing equipment.
Encouraged by the indication of institutional support, Strat has broadened its base for the acquisition of oil sludge reservoirs by establishing a joint venture in the Republic of Tatarstan. Tatarstan is the third largest producer of oil, and Tatneft, the regions largest oil producer, has a stable annual production of approximately 170 million barrels of oil. Its largest refinery processes 25 million barrels per year, and consistent with the age of similar refineries in the Russian Federation, efficiencies range at 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
In the company's efforts to generate revenues and cashflows immediately, an agreement with a local processor is being negotiated to supply up to 3600 metric tons per month of sludge.
Based on current market prices in the Russian Federation, the total reserves acquired have the potential to generate over $165 million over the next three to five years.
"We are very excited to report that along with these acquisitions, Strat and its joint venture entities have all the required Government approvals to construct processing plants directly at the sludge reservoir sites," said Sam Hyams.
Strat Nafta Ufa (SNU) reserves now total in excess of 1,000,000 metric tons with an official market value of approximately $80 per metric, valuing the reserves acquired at approximately $80 million. Strat Petroleum, in conjunction with its joint venture entities, will continue its discussions with the various Government agencies and regional refineries to acquire an additional 1 to 2 million metric tons of reservoirs.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
905-761-9169 (main)
416-628-8018 (fax)
646-216-9751 (U.S.)
http://www.stratpetroleum.com
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Completes Delivery of Processed Oil from Sludge
Tuesday November 14, 10:00 am ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an exploration and development company focusing on oil and gas opportunities in the Russian Federation, announced today that Strat Nafta Ufa (SNU), its joint venture in the Republic of Bashkorstan, has completed the initial shipment of processed oil from oil sludge. Each shipment contains approximately 200 barrels towards a total delivery of between 400 and 500 barrels per week with current equipment and technology. The joint venture is investing in additional equipment that is expected to increase production and shipment to approximately 150 bpd within the next 30 days.
In its efforts to rapidly improve production, Strat continues to work closely with a U.S. chemical company whose proprietary technology is projected to significantly increase daily processing capacity. Current testing indicates that the Strat Nafta Ufa plant should process at least 50 metric tons (MT) of sludge per hour, operating on a 24 hour 7 days a week basis. The processing equipment and methodology currently being employed will be scalable to process several hundred tons of sludge per hour once the plant is up and running at full capacity. Expectations are that recovery of crude oil should average between 40 to 50 percent of sludge processed, resulting in a production capacity range of 140 to 175 barrels of crude oil per hour. This process and technology will be superior to any processing solution available in the market today.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Tanya Hyams, 905-761-9169
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Reaches Agreement for Implementation of Sludge Processing Solution
Thursday December 14, 10:30 am ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced the results of their recent trip to Russia. While overseas, Company management presented their solution for the treatment of oil sludge to Rosneft's operation in the Stavrapol Region and to a number of local oil and chemical companies at the Academy of Science in Bashkorstan.
The end results of the presentations were very positive. Strat was able to sign a joint working agreement directly with the Academy to process an additional 2 million tons of sludge.
The Stavrapol presentation also proved fruitful as the Company was able to gain acceptance of its solution by Rosneft for application to that company's numerous sludge pools in the Region. Strat is currently completing a proposal that would see a pilot plant installed in early 2007, followed by plants at additional locations as determined.
Rosneft is the world's second largest company in terms of proved SPE oil reserves and Russia's second-largest hydrocarbon producer with production of over 1.72 million bpd. Headquartered in Moscow, the Company also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. In 2005, the company's revenues exceeded $24 billion USD.
In order to capitalize expeditiously on these opportunities, Strat is working in conjunction with its technical and chemical consultants towards completing the design and specifications for the pilot sludge processing plant expected to be installed by the middle of Quarter 1, 2007.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Investor Relations/Corporate Communication
Lynx Consulting Group, Inc.
+1 (858) 488-4049
http://www.lynxir.com/
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Lynx Consulting Group, Inc.
Investor Relations/Corporate Communication
Michael Sobeck, +1 858-488-4049
http://www.lynxir.com/
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Reaches Agreement for Implementation of Sludge Processing Solution
Tuesday January 23, 3:00 pm ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced that its sludge oil recovery project in Bashkorstan continues to ship approximately 300 bbls per week. Due to harsh winter conditions this season the Company has decided to minimize risk and maintain current production levels with the expectation that the originally projected 100 bbls per day recovery will be achieved as the weather warms up heading into the Spring.
In order to increase revenues and profitability, Strat's local joint venture has signed an agreement with a regional oil refinery to process the Company's recovered oil into heating oil. This additional step in the sludge processing chain will improve overall gross margins on every barrel to upwards of 50%. Delivery of the 300 bbls/week to the refinery began January 8, 2007 with intent of an increase to 400 bbls/week beginning January 22, 2007. The refinery has allocated storage facilities of up to 1,500 bbls of delivered product, which will be refined within three days of receipt.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Investor Relations/Corporate Communication
Lynx Consulting Group, Inc.
+1 (858) 488-4049
info@lynxir.com
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Tanya Hyams, 905-761-9169
________________________________________
Source: Strat Petroleum, Ltd.
Strat Petroleum Reaches Agreement with James Monroe Capital
Tuesday May 15, 7:30 am ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced that it has signed a letter of intent to form a joint venture with James Monroe Capital for the processing of waste/sludge oil in Bashkorstan.
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The terms to complete the joint venture include initial capital funding by James Monroe of up to $1 million, with further funding available upon successful completion of between 2-3 processing plants.
Management's recent trip to the Russian Federation included meetings with local authorities and oil refineries, and visits to a number of new sites for establishment of processing plants. These new reservoirs have greater hydrocarbon content creating the opportunity for much stronger revenues and profits.
Sam Hyams, President & CEO of Strat, stated, "I am excited by this new relationship with James Monroe, as the possibilities for funding opportunities presented in oil waste/sludge reservoirs and support available from the James Monroe team's knowledge, experience and network in the oil and gas industry will be very beneficial to both Companies."
Currently Strat is working on securing licenses for processing oil waste that will allow it to secure 100% of the rights to process the reserves in the reservoir, thus not requiring local joint venture partners.
Strat is pursuing a couple of other projects which will be announced in the near future along with further information on progress regarding oil waste processing.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Tanya Hyams, 905-761-9169
--------------------------------------------------------------------------------
Source: Strat Petroleum, Ltd.
Strat Petroleum Signs LOI with Planet Resources Recovery Inc. for Remediation of Oil Sludge in Russian Federation
Thursday June 7, 3:55 pm ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced that it has signed a letter of intent with Planet Resource Recovery, Inc. (Pink Sheets:PRRY - News), developer, manufacturer and marketer of the PetroLuxus(TM) family of products, to negotiate a contract for the deployment of PetroLuxus(TM) and its proprietary processing technology in the Russian Federation and former CIS countries. The first step will be to design and build a prototype plant that Strat and its partners will test at one or more locations it is securing, and then build a full scale plant that could process approximately 3,700 bbls per day.
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During a visit to the Planet Resource Recovery plant, where the application of some its technologies were demonstrated, Sam Hyams, President of Strat stated "this solution is what we have been searching for, as it can treat the most difficult to separate oil sludge." Strat is also pursuing more conventional technologies to process more pure oil waste, at sites it is currently negotiating to secure. More details of the agreement and relationship with Planet Resource Recovery will be disclosed once agreements have been signed.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Tanya Hyams, 905-761-9169
--------------------------------------------------------------------------------
Source: Strat Petroleum, Ltd.
Strat Petroleum Hires Leading Investor Relations Firm
Thursday August 9, 10:00 am ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced it has appointed Christensen (www.christensenir.com), to provide investor and media relations services.
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Christensen is a capital markets advisory firm assisting global, national, small to large capitalized companies. In business for 25 years, Christensen provides its clients with a customized choice of investor relations and financial communication solutions designed to fit clients' individual needs according to their industry sector.
"We are committed to providing our shareholders with enhanced communications and have searched for the right investor relations firm to assist with this effort," said Sam Hyams, president & CEO of Strat Petroleum Ltd. "We feel that we have finally found that firm with Christensen. Their experience with small- and micro-cap companies, as well as having an expertise in energy-related industries, will provide Strat Petroleum with a more focused investor and media relations program to achieve our long-term goals."
Services will be provided by cQuest, an affiliate of Christensen. cQuest assists companies with market capitalizations of less than $200 million achieve fair market valuation and strengthened brand recognition in the global financial markets and business media. The appointment of cQuest reinforces the Company's commitment to improve its external communications and increase its visibility within the financial community.
The services agreement with Christensen began May 1, 2007.
About Christensen
Committed to delivering quantifiable results and value to its clients, Christensen is a privately held investor relations and financial consulting firm specializing in the full integration of communications programs to motivate markets and build share value for its clients. The Company's programs provide specific models for the establishment of effective analyst, broker, investor and media relationships designed to enhance clients' market and brand value through proactive, consistent messaging. Since 1982, the firm has worked with business leaders, IR professionals and marketing specialists spanning all industries to create innovative solutions to strategic marketing and investor relations challenges for a diverse domestic and international client base of Fortune 500 as well as emerging growth companies.
About cQuest
cQuest is an affiliate of Christensen, a global capital markets advisory firm with offices in New York, Hong Kong, Phoenix, Montreal, Toronto and Calgary. Providing its clients with a customized choice of investor relations and financial communication solutions, designed to fit clients' individual needs, cQuest assists companies with market capitalizations of less than $200 million achieve fair market valuation and strengthened brand recognition in the global financial markets.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Forward-looking Statement
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Investor Relations/Corporate Communication
Raquel, +1 905-761-9169 ext. 233
or
Christensen
+1 480-391-0631
SPRL@ChristensenIR.com
--------------------------------------------------------------------------------
Source: Strat Petroleum, Ltd.
Strat Petroleum, Ltd. Announces Management Update
Tuesday August 14, 10:13 am ET
TORONTO--(BUSINESS WIRE)--Strat Petroleum, Ltd. (OTC:SPRL - News) has formally announced that during the last several months management has been evaluating alternative financing proposals, evaluating and securing rights to new technologies and solutions for application in the Russian Federation and former CIS, and continues due diligence of several additional opportunities in the Russian Federation.
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The results of these efforts are reflected in several current and pending operating projects and relationships, the full details of which will be provided by Strat Petroleum to its shareholders in the coming weeks, followed by consistent updates.
Strat Petroleum, Ltd. would like to recognize all shareholders for their continued support, despite limited news. The management team will continue to be active in building a viable and growing business.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Strat Petroleum, Ltd.
Investor Relations/Corporate Communication
Raquel, +1 (905) 761-9169 x233
info@stratpetroleum.com
or
Christensen
+1 (480) 391-0631
SPRL@ChristensenIR.com
--------------------------------------------------------------------------------
Source: Strat Petroleum, Ltd.
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