CALGARY and LONDON, Jan. 25 /CNW/ - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that the Al Tayr 101 well, drilled on its operated Block 17 concession in Syria, has reached TD and is being plugged and abandoned following an unsuccessful test program. The well was spudded on October 7, 2009 and was drilled to a depth of 3,150 meters. The well encountered gas shows throughout the Kurrachine Dolomite section, the main producing horizon within the Ash Shaer and other nearby producing fields. The well was tested, including an acid stimulation program, over two prospective intervals, neither of which flowed gas to surface. The well satisfies the exploration commitment in the first phase of the concession.
Mark Bilsland, Stratic's Chief Operating Officer commented: "We are disappointed that this promising prospect failed to flow gas to surface. We and our partners, Kufpec and Dualex, are evaluating the results of the well and the remaining prospectivity on the acreage to determine the next steps in the exploration program."
Stratic is operator and holds a 35% working interest in Block 17 in Syria.
Notes to Editors:
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents 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).
SOURCE STRATIC ENERGY CORPORATION
For further information: For further information: Kevin Watts, President and Chief Executive Officer, +44 20 7766 7900; 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: firstname.lastname@example.org; Website: www.straticenergy.com