CALGARY and LONDON, Jan. 7 /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 Kerkouane permit
offshore Tunisia (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.
This follows the sale, announced on November 26, 2007, of Stratic's interest
in the Chorbane permit, onshore Tunisia, and will complete Stratic's exit from
that country as part of the rationalisation of assets acquired through the
Grove Energy Ltd acquisition in 2007.
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;