- Published: 06 January 2009
- Written by Editor
Stratic Energy Corporation - Successful Drilling of the West Breagh Horizontal Well (42/13-5z) in the UK North Sea
Stratic Energy Corporation (TSX Venture: 'SE', AIM: 'SE') ("Stratic" or the "Company") is pleased to announce the successful drilling of the 42/13-5 and 5z wells on block 42/13 in the United Kingdom North Sea. The 42/13-5 well was drilled from the same top hole location as the 42/13-3 well drilled during 2007 and targeted the sand sequence seen in the 42/13-3 well. The 42/13-5 pilot hole well encountered 165 feet of sand (approximately 55 feet vertical thickness) consistent with expectations and reached a total depth of 8892 feet. The 42/13-5 pilot hole was cemented back above the reservoir and the 42/13-5z horizontal well was then drilled for a distance of approximately 2500 feet measured depth.
The final total depth of the horizontal well of 10746 feet was reached on the 2nd of January 2009. The 42/13-5z well encountered a total section of approximately 1200 feet of sand at various intervals. The joint venture partners have agreed to commence a testing programme over the reservoir intervals encountered in the horizontal well. Stratic has a ten per cent interest in the licence covering block 42/13. Mark Bilsland, Stratic's Chief Operating Officer, commented "The amount of sand encountered in the first horizontal West Breagh well is encouraging news for the potential Breagh field development and we look forward to the results of the well test programme, due later in January." 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. 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 SOURCE: Stratic Energy Corporation
Kevin Watts, Chief Executive Officer, +44 20 7766 7900; John van der Welle, Chief
Financial Officer, +44 20 7766 7920; 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:
This email address is being protected from spambots. You need JavaScript enabled to view it.; Website: www.straticenergy.com