CALGARY and LONDON, Jan. 9 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that it has
entered into a conditional sale agreement in respect of its G.R15.PU permit in
the Sicily Channel, offshore Italy (held 100% by Stratic). The consideration
is US$1 million in cash, subject to working capital adjustments. Completion of
the agreement is conditional principally on approval by the relevant
Government authorities. The sale follows the recent relinquishment of licence
G.R16.PU and the sale of Stratic's licence interests offshore Tunisia.
Mr. Andrew Childs, a non-executive director of Stratic, and Dr. Wolfgang
Zimmer, a consultant to Stratic and former director of Grove Energy Ltd, hold
beneficial interests in the purchaser, an Australian company. Neither Mr.
Childs nor Dr. Zimmer played any role in Stratic's Board process in evaluating
these transactions from Stratic's perspective or in Stratic's approval
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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;