November 11, 2004
TORONTO, Nov 11, 2004 (BUSINESS WIRE) --
Strat Petroleum, Ltd (National Quotation Bureau: SPRU) today announced that the Board of Directors has considered the unsolicited take-over bid circular from International Menu Solutions Corp. and determined that it is inadequate and reiterated its consensus that Strat remain independent to pursue the business opportunities it has in the former Soviet Union and elsewhere. The Board noted that there is no current public information about the bidder, which apparently registered with the Securities and Exchange Commission in 1999 but stopped filing annual and periodic reports with the SEC in 2001. Accordingly, under all the circumstances presented, the Board of Directors recommends that shareholders reject the take-over bid.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Strat Petroleum, Ltd.
Strat Petroleum, Ltd. Investor Relations/Corporate Communication: Kathy Bassi, 1-905-714-0058 www.stratpetroleum.com
Copyright (C) 2004 Business Wire. All rights reserved.
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[This message has been edited by Bigrod40 (edited November 17, 2004).]
Strat Petroleum Announces Reverse Stock Split
"The reverse stock split will be effective November 30"
TORONTO--(BUSINESS WIRE)--Nov. 19, 2004--Strat Petroleum, Ltd. (National Quotation Bureau: SPRU).
Strat Petroleum, Ltd. today announced that the Board of Directors and shareholders have approved a reverse stock split of one common share for every thirteen (13) common shares. There will be no change in the par value of such shares or the number of authorized shares; fractional shares shall not be issued, but shall be rounded up to the next whole share.---->The reverse stock split will be effective November 30, 2004 for shareholders of record on November 19, 2004.
Shareholders will be required to exchange their stock certificates for post-split stock certificates and will be furnished transmittal documents.
Strat Petroleum, Ltd.'s strategy is to enhance shareholder value through the acquisition of oil & gas properties with proven reserves or producing/capped wells. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our Investor Relations office. Due to the volume of interest we will make every effort to respond as promptly as possible.
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; uncertainties of completing business transactions; uncertainties of raising necessary capital; no control over long term pricing; possible reductions in demand for our products and services due to competition or changes in industry conditions or political environment; changes in the nature of energy regulation in the Russian Federation, the United States and other countries; political risk; currency exchange risk; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; reliance on management and management contacts; and other risks that may be referenced from time to time in the Company's filings with the Securities and Exchange Commission.
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