CALGARY and LONDON, Nov. 5 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") today provides an
update on the 42/13-3 Breagh appraisal well in the Southern Gas Basin of the
UK North Sea. The well reached total depth of 8,047 feet measured depth (md)
on Friday, November 2, 2007.
The targeted Carboniferous section was encountered at 7,321 feet md,
within 5 feet of prognosis. The upper reservoir section drilled with good
indications of sand and significant gas shows, subsequently confirmed by
open-hole logs. Preliminary log analysis indicates an estimated 76 feet of
sand within a gross gas column of approximately 400 feet, consistent with the
lowest gas down to level identified in the original 42/13-2 discovery well.
Following completion of the logging programme to collect reservoir
pressures and seismic velocity data, the forward plan is to set a 7-inch liner
before testing the well. Test results are expected by mid November. The
results of the flow testing programme are essential to evaluate the economic
viability of the Breagh discovery.
As a result of the completion of the drilling phase of the well, Stratic
has earned a 10% interest in the discovery and adjacent acreage, having funded
20% of the costs. All future costs, including the testing of this well, will
be funded at Stratic's working interest share of 10%.
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; 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: email@example.com;