Strat Petroleum Ltd (SPRL)

[rjtow]

should reject..SPRU-Strat Petroleum Recommends Shareholders Reject Unsolicited Take-Over Bid

Thursday , November 11, 2004 15:50 ET

TORONTO, Nov 11, 2004 (BUSINESS WIRE) -- 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.