Strat Petroleum Ltd (SPRL)

[eik]

<<The nature of the relationship between these North American corporations and the Russian corporations is contractual based on Joint Venture agreements.>>

lucky, I am not trying to be difficult... and I really appreciate your DD and contribution to this board, but... I will go further: I don't think Strat Nafta Ufa is a Strat's JV that was established in accordance with the laws of the Russian Federation (paid Statute capital, etc.) My take (which was posted a year or so ago): they created 100% Russian company with similar name, "that looks like Strat", and signed some "agreements" that don't have any legal value. "This is how the business is played in Russia" is just an excuse. "This is how the business is played by pinky companies" is more accurate statement. "Normal" foreign businesses (like BP, MOL and other big oils) don't have problems to finance real Joint Ventures. Could you clarify this next time when you talk with Sam?