Replies to post #8215 on Strat Petroleum Ltd (SPRL)

[abbam]

guess we are making money finally.
nice going !

[Cueball]

Thanks Richagain!!

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.
[phone]
[e-mail]

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

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Source: Strat Petroleum, Ltd.