CALGARY and LONDON, March 18 /CNW/ - Stratic Energy Corporation
(TSX Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that gas
production commenced last Friday from its Ayazli gas field, in the Black Sea
Ayazli is the third gas field to start production under Phase 1 of the
South Akcakoca Sub Basin development; the Akkaya and East Ayazli gas fields
commenced production last year. Initial flow rates from Ayazli support
operator estimates that production from the field will average over 10 mmscf
per day. Production from the two existing fields has recently been around
17 mmscf per day, gross.
Operator TPAO has also started well intervention operations to add
further perforations on the East Ayazli-2 well, in order to increase
production from that field.
Stratic's interest in the relevant licences offshore Turkey is 12.25%,
and the operator is TPAO.
Notes to Editors:
1. About Stratic: Stratic Energy Corporation is a Canadian-incorporated
international oil and gas business focused on adding value
principally through the appraisal, development and production of
existing discoveries, supplemented by a low to moderate risk
exploration program. Stratic's principal interests are in the UK and
Dutch sectors of the North Sea, Italy, Turkey and Syria. Its shares
are listed on the TSX Venture Exchange in Toronto and on AIM, London
and its principal operating office is in London, UK.
This news release contains certain forward looking statements, which
involve assumptions with respect to future plans, production levels and
results, and capital expenditures. The reader is cautioned that all such
forward looking statements involve substantial risks and uncertainties and the
assumptions used in their preparation may not prove to be correct. Stratic's
actual results could differ materially from those expressed in, or implied by,
these forward looking statements and accordingly, the forward looking
statements are qualified by reference to these cautionary statements. The
forward looking statements contained herein are made as at the date of this
news release. Stratic undertakes no obligation to update or publicly revise
forward looking statements or information unless so required by applicable
TSX-V and AIM notifications
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Stratic's Chief Operating Officer, Dr Mark Bilsland BSc (geology), PhD
(petroleum petrophysics), and member of the SPE, is the qualified person who
has reviewed and approved the technical information in this announcement for
the purposes of the AIM Rules for Companies (incorporating the Guidance Note
for Mining, Oil and Gas Companies).
For further information:
For further information: Peter Thomas, Chief Financial Officer, +44 20
77667920; Mark Bilsland, Chief Operating Officer, +44 20 77667900; Patrick
d'Ancona, M: Communications, +44 20 7153 1547; Canadian Investor Relations,
Roger Fullerton, (952) 929-7243, Email: firstname.lastname@example.org,