Strat Petroleum, Ltd. Announces Management Update

    TORONTO, August 14 /CNW/ - Strat Petroleum, Ltd. (OTC:SPRL) has formally
announced that during the last several months management has been evaluating
alternative financing proposals, evaluating and securing rights to new
technologies and solutions for application in the Russian Federation and
former CIS, and continues due diligence of several additional opportunities in
the Russian Federation.

    The results of these efforts are reflected in several current and pending
operating projects and relationships, the full details of which will be
provided by Strat Petroleum to its shareholders in the coming weeks, followed
by consistent updates.

    Strat Petroleum, Ltd. would like to recognize all shareholders for their
continued support, despite limited news. The management team will continue to
be active in building a viable and growing business.

    About Strat Petroleum:

    Strat Petroleum is an emerging exploration and development company
focusing on investment in oil and gas properties and other related projects in
the Russian Federation. For more information, please visit the company website
at The company's phone numbers are: 905-761-9169
(main), 416-628-8018 (fax) and 646-216-9751 (U.S.).

    Statements made in this press release regarding the Company's or
management's intention, beliefs, expectations, or predictions for the future
are forward-looking statements. Such forward-looking statements are subject to
a number of risks, assumptions and uncertainties that could cause the
Company's actual results to differ materially from those projected in such
forward-looking statements. These risks, assumptions and uncertainties
include: the ability to compete effectively in a rapidly evolving and price
competitive marketplace; uncertainties of completing business transactions;
uncertainties of raising necessary capital; no control over long term pricing;
possible reductions in demand for our products and services due to competition
or changes in industry conditions or political environment; changes in the
nature of energy regulation in the Russian Federation, the United States and
other countries; political risk; currency exchange risk; changes in business
strategy; the successful integration of newly-acquired businesses; the impact
of technological change; reliance on management and management contacts; and
other risks that may be referenced from time to time in the Company's filings
with the Securities and Exchange Commission.

For further information:

For further information: Strat Petroleum, Ltd. Investor
Relations/Corporate Communication Raquel, +1 (905) 761-9169 x233 or Christensen +1 (480) 391-0631

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