Stratic Secures US$150 million Bank Loan Facilities

    CALGARY and LONDON, Feb. 13 /CNW/ - Stratic Energy Corporation (TSX
Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that it has
secured new bank loan facilities totaling US$150 million, principally to
finance its field development programs.
    The new facilities to be provided to certain subsidiaries of Stratic
comprise a $110 million senior, secured Borrowing Base facility and a
$5 million working capital facility, underwritten by The Royal Bank of
Scotland plc ("RBS") and Société Générale Corporate & Investment Banking, as
Joint Mandated Lead Arrangers, and an Undeveloped Asset-Backed ("UDAB")
Facility of $35 million led by RBS, of which $22.5 million is initially
underwritten. The Borrowing Base and UDAB facilities have terms of five and
three years, respectively. RBS is the Structuring Bank for the facilities, the
closing of which is subject to normal loan market terms.
    The Borrowing Base facility will be used principally to finance Stratic's
share of capital expenditure on its portfolio of development assets, including
the West Don oil field in the UK sector of the North Sea, the P8a Horizon West
oil field in the Dutch Sector of the North Sea and the Longanesi gas field in
Italy. The UDAB Facility is for funding expenditure on specified
pre-development assets. Additional assets can be added to both facilities over
time, as projects are advanced. The facilities will also be used to retire
existing bank debt.
    A field development program ("FDP") for the West Don oil field in the UK
North Sea was submitted for approval to the UK Government's Department for
Business, Enterprise and Regulatory Reform late in 2007. FDP approval is
expected to be received in the first half of 2008. Total capital costs of the
West Don project are expected to be about GBP 170 million (gross) (Stratic
share 17.25%). The field development plans for the Horizon West oil field in
block P8a of the Dutch sector of the North Sea and the Longanesi gas field in
Italy are progressing satisfactorily and are expected to be approved by the
partners during the spring of this year.
    Peter Thomas, Stratic's Chief Financial Officer, commented: "These debt
facilities will permit efficient financing of the development expenditure on
our key projects. We are delighted to have secured an underwritten financing
package on excellent terms during a turbulent period in credit markets. The
facilities will provide the flexibility we need for funding our asset
portfolio as it evolves, including development and pre-development assets."

    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.

    Forward-looking statements

    This news release contains certain forward looking statements, which
involve assumptions with respect to future plans, production levels and
results, and capital expenditures. The reader is cautioned that all such
forward looking statements involve substantial risks and uncertainties and the
assumptions used in their preparation may not prove to be correct. Stratic's
actual results could differ materially from those expressed in, or implied by,
these forward looking statements and accordingly, the forward looking
statements are qualified by reference to these cautionary statements. The
forward looking statements contained herein are made as at the date of this
news release. Stratic undertakes no obligation to update or publicly revise
forward looking statements or information unless so required by applicable
securities laws.

    TSX-V and AIM notifications

    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; Patrick d'Ancona, M:Communications, +44 20 7153 1547; Canadian
Investor Relations: Roger Fullerton, (952) 929-7243, Email:; Website:

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