Oil and Gas Main (fka OGM)

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SPRL news(InternetWire) Strat Petroleum Continues Aggressive Pace of Acquisitions


TORONTO -- (MARKET WIRE) -- 06/01/06 -- Strat Petroleum, Ltd. (PINKSHEETS: SPRL
, 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.