CALGARY and LONDON, Dec. 10 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that the
9/28a-18 Crawford appraisal well in the UK North Sea will be suspended for
future operations following completion of current activities on the well,
having successfully proved an extension of the Crawford Triassic reservoir. It
has not been possible to conduct the planned hydraulic fracture and testing of
the well in the limited period during which the hydraulic fracture equipment
was available, due to problems in cementing the 7 " liner. The partners expect
to return to the well in the first half of 2008 and are looking at the
possibility of combining this with a wider drilling program in the Crawford
As previously reported, well 9/28a-18 successfully confirmed the
extension of Crawford Triassic reservoir to the north of the field,
encountering over 1,200 ft of oil bearing sandstone with the benefit of a 70
degree well bore deviation (equivalent to a more than 400 ft vertical
section). The well also discovered oil in a separate Tertiary target known as
Delta A, comprising a 62 ft oil column containing 40 ft of pay.
The partnership group will now evaluate the very encouraging results of
the well to define the optimum forward program. Options for the development of
the Crawford area include an extended production test of the Triassic
reservoir appraised by the current well and further exploratory drilling on
other Tertiary prospects near to the Delta A discovery.
Stratic's interest in the P209 Crawford licence is 19%, and the operator
is Fairfield Energy.
Kevin Watts, Stratic's Chief Executive, commented: "The results of this
well exceed expectations, proving up a significant deeper Triassic resource
with better reservoir characteristics than those encountered in the original
Crawford development which focused largely on the shallower Jurassic horizons.
It gives us sufficient encouragement to move ahead and define potential
development concepts for this new resource, with the possibility of submitting
a field development plan by the end of next year".
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: email@example.com;