Two Russian Regions
"academy is NOT Rosneft". True statement, the Academy is in Bashkorstan (Urals), and the Rosneft presentation was in Stavrapol (Northern Caucasus).
BASHKORSTAN
[APR 27 PR] Strat Petroleum 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...... Along with the acquisitions, SNU has received the required Government approvals to construct its processing plants at the locations of the sludge reservoirs.
[OCT 25 PR] Strat Petroleum........ has completed a letter of intent to form a joint venture with a private European entity to begin processing of the oil sludge reservoirs acquired by its subsidiary Strat Nafta Ufa (SNU) in the Republic of Bashkorstan......financing for the first unit has already been provided and mutual commitments have begun; the first shipment of approximately 150 barrels of crude oil to be provided under contract to a local customer at a profitable price will be delivered on October 27th.
[NOV 14 PR] Strat Nafta Ufa (SNU), its joint venture in the Republic of Bashkorstan, has completed the initial shipment of processed oil from oil sludge.
[DEC 14 PR] While overseas, Company management presented their solution for the treatment of oil sludge 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.
STAVRAPOL
[DEC 14 PR] 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... 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.
It would appear that Strat is demonstrating ability to process sludge in two ways - by installing processing units at refineries (Bashkorstan) and by processing existing sludge using chemicals (Bashkorstan/Academy and Rosneft/Stavrapol).
