First Oil Flows from the West Don Field, UK North Sea



    CALGARY and LONDON, April 29 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces the
commencement of production from the West Don field in the UK North Sea.
    Stratic has a 17.25% interest in the field which is operated by Petrofac
Energy Developments.
    Production from the field commenced on 28 April, less than one year from
receiving government approval for the Field Development Programme. The field
is currently producing from the first production well, with the second
production well and a water injector due to come on stream early in the third
quarter when peak production from the field is expected to reach 25,000
barrels of oil per day (bopd), over 4,300 bopd net to Stratic.
    The West Don field has been developed together with the nearby Don
Southwest field, and produces through the Northern Producer floating
production vessel. Initial production is being exported by tanker with a
permanent tie-in to the Brent export system expected to be completed early in
2010.
    Mark Bilsland, Chief Operating Officer, commented: "The commencement of
production from the West Don field represents a substantial achievement for
the Petrofac led partnership in converting an under-exploited discovery into
reserves and production in the challenging North Sea environment. First oil
also marks a significant milestone for Stratic, representing our first North
Sea production and the cornerstone of our business for the future."

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this
    release.
    

    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.

    About West Don:

    The West Don field is located in the northern North Sea, approximately
150 km northeast of the Shetland Islands and 12 km north of the Thistle Field
in a water depth of approximately 500ft.
    The West Don field is operated by Petrofac Energy Developments Ltd and is
unitised over two blocks; 211/13b and 211/18a. Stratic owns a 17.25% stake in
the West Don field through its 50% working interest in Licence P1200 which
covers Block 211/13b in the northern North Sea and was acquired in the 22nd UK
Offshore Licence Round. The West Don field is being developed jointly with the
Don Southwest field, also operated by Petrofac. Stratic does not have a
working interest in the Don Southwest field.
    The development of the West Don field discovery utilises two producing
wells and one water injection well connected via a sub-sea tieback to the
Northern Producer floating production facility where the oil is processed and
prepared for export. The Northern Producer has been secured on a flexible
lease contract for field life with the lease cost based on an oil throughput
tariff varying with the Brent oil price. The Northern Producer will also
handle production from the nearby Don Southwest field to be developed in
parallel with West Don. Production is initially to be offloaded by tanker
until the Northern Producer is tied in to the nearby Thistle platform and
Brent oil export infrastructure, expected to occur in early 2010.
    As at 31 December, 2007 Stratic reported booked proved and probable
reserves for West Don of 3.77 mmbbls, of which 2.00 mmbbls is categorised as
proved.
    Stratic expects its total net investment on the West Don field
development to be approximately US$59 million.

    Forward-looking statements

    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
securities laws.

    TSXV and AIM notifications

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents 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: Kevin Watts, President and Chief Executive
Officer, +44 207 766 7900; Mark Bilsland, Chief Operating Officer, +44 207 766
7900; John van der Welle, Chief Financial Officer, +44 207 766 7900; Patrick
d'Ancona, M: Communications, +44 207 153 1547; Canadian Investor Relations,
Roger Fullerton, (952) 929-7243, Email: roger.fullerton@straticenergy.com;
Website: www.straticenergy.com

Organization Profile

STRATIC ENERGY CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890