CALGARY and LONDON, Jan. 22 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces the
successful testing of the Breagh horizontal well 42/13-5z on Block 42/13 in
the Southern North Sea.
The well tested dry gas at a maximum rate of 26 million standard cubic
feet per day (mmscfd) from a number of perforations at various intervals along
a horizontal sand section of 1,200 feet and confirms the economic benefits of
utilising conventional horizontal wells in the development of the field. The
well will be suspended as a future production well.
The well test results will now be incorporated into the partnership's
reservoir model to optimise the well requirements for the development. The
operator's geological mapping work, which will be updated for the results of
the 42/13 - 5 and 5z wells, is expected to show an increase in gross rock
volume in excess of 20% to its previous estimate.
Mark Bilsland, Chief Operating Officer commented: "This well successfully
completes the appraisal programme on the Breagh field commenced in August
2008. The first well in the programme confirmed the extension of the original
discovery to the east, and this well has demonstrated the value of horizontal
completions in providing a commercial solution for the development of the
field. The partnership will now proceed towards completing the development
plan for the field for submission and approval later this year."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
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).
For further information:
For further information: John van der Welle, Chief Financial 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:
email@example.com, Website: www.straticenergy.com