CALGARY and LONDON, Nov. 19 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") is pleased to announce
that the Breagh gas appraisal well on UK Southern North Sea block 42/13 has
successfully tested dry gas at a maximum rate of 17.6 million standard cubic
feet per day (mmscfd) through a 56/64" choke. Following a further 12 hour flow
period at a controlled rate of 14.3 mmscfd against a circa 1550 psi wellhead
flowing pressure, the well is currently shut in for a pressure build up
survey. The gas was produced from the Carboniferous reservoir perforated
between 7,332 feet and 7,447 feet measured depth. On completion of well
testing operations, the well will be suspended as a potential gas producer.
Well 42/13-3 encountered a possible gas-water contact in line with the
original 42/13-2 discovery well giving a gross gas column of 460 feet.
Preliminary analysis of the well results suggests a correlation of certain
geological features between the original discovery well 42/13-2 well drilled
in 1997 and the 42/13-3 well (which are 1.5 kilometres apart). Furthermore,
the presence of good quality sand in the more crestal 42/13-3 location may
suggest that this upper sand-prone section, which has better reservoir
quality, has a widespread distribution.
Significant further potential is mapped in the East Breagh part of the
structure and initial planning is underway to drill this part of the structure
Stratic has a 10 per cent. interest in the licence.
Kevin Watts, Stratic's Chief Executive, commented, "We are very
encouraged by these results, which are ahead of our pre-drill expectations.
The information about sand distribution across the structure which we have
obtained suggests that West Breagh has the potential to be a sizeable gas
accumulation. The test results prove that the Scremerston sandstone reservoir,
which up until now has not been exploited in the Southern North Sea, can
produce at significant flow rates, verifying the partnership's interpretation
of the discovery and enhancing the prospectivity of the surrounding acreage in
which Stratic also owns an interest. We look forward to drilling a further
well in 2008 to test a potentially large extension to the east of the current
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;