CALGARY and LONDON, Oct. 7 /CNW/ - Stratic Energy Corporation (TSX Venture: `SE', AIM: 'SE') ("Stratic" or the "Company") announces that operator TPAO, Turkiye Petrolleri Anonim Ortakligi, the Turkish National Oil Company commenced drilling operations on the Bati Ayazli-1 exploration well in the South Akcakoca Sub basin located in the Black Sea, offshore Turkey. The well commenced operations with the Grup Servicii Petroliere `Saturn rig' on 6 October 2009. Stratic has a 12.25 per cent interest in this well.
The Bati Ayazli-1 exploration well is located to the west of the currently producing Ayazli gas field. This exploration well is targeting on trend additional potential at the reservoir level seen at the Ayazli field and is also targeting a deeper exploration objective. Operations to total depth are estimated to take approximately 49 days.
Dr Mark Bilsland, Chief Operating Officer, commented "We are looking forward to the results of this exploration well which is designed to test two stratigraphically separate levels. The deeper stratigraphic target has not been tested before in this area and the results will aid our understanding of the deeper potential in this area. The shallower target, if successful, will provide incremental gas production and will be tied back to the existing Ayazli field facility."
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.
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.
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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).
SOURCE STRATIC ENERGY CORPORATION
For further information: For further information: John van der Welle, Chief Financial Officer, +44 20 7766 7920; Mark Bilsland, Chief Operating Officer, +44 20 7766 7900; 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