CALGARY and LONDON, Sept. 25 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") is pleased to announce
that operations have commenced at the Breagh appraisal well, which is expected
to spud later today.
The Breagh gas discovery was made in 1997 by well 42/13-2, which
encountered net gas pay of approximately 68 ft within the Lower Carboniferous
Scremerston Sandstone Formation. The well was cored and logged but tested at
sub-commercial flow rates, believed to be due to formation damage that
occurred during drilling and completion of the well.
The appraisal well has been designed with the principal objective of
achieving a test flow rate representative of the undamaged formation, which
will be key to determining the commercial viability of the discovery.
There is further upside potential to the east of the current discovery
which is likely to be the subject of further drilling activity next year if
this well is successful.
The well is being drilled by the ENSCO 85 jack-up rig. Sterling Resources
Limited is operator. Stratic will earn a 10 per cent working interest in the
discovery and adjacent acreage through funding 20% of the dry-hole costs of
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
77667900; Patrick d'Ancona, M: Communications, +44 20 7153 1547; Canadian
Investor Relations: Roger Fullerton, (952) 929-7243, Email:
email@example.com; Website: www.straticenergy.com