posted
SPRL,Bollingers tightening up and stock looks like it's about to cross the 50 EMA,RSI moving up off of the 20 line and sitting around the 40 line.Was a great play last time and has recently formed a pretty strong base at current levels.
Press Release Source: Strat Petroleum, Ltd.
Strat Petroleum Announces Asset Base for Oil Drilling Joint Venture Tuesday March 22, 5:10 am ET
TORONTO--(BUSINESS WIRE)--March 22, 2005--Strat Petroleum, Ltd. (Other OTC:SPRL - News) today announced that preliminary review of the records of Saraktasch Oilgas Drilling Expedition Co., indicates the assets that will be available to the new joint venture for future drilling services are significant. The Drilling Co.'s assets include the following:
a) 31 acres of land at US$40,500/acre = US$1.26 million;
b) 24 buildings at US$200,000 = US$4.8 million; and,
c) 6 Uralmash drilling units at US$1,500,000 = US$9.0 million.
Currently the Company drills between 18-20 wells a year at an average cost of $1 million per well.
Strat Petroleum's commitment is to grow the business by providing additional financing; investing in more advanced equipment for drilling and maintenance; and offering other services such as 2D and 3D seismic testing, computerized logging and detailing the fields, etc.
Strat has the opportunity to significantly increase revenues by bartering drilling services in exchange for crude oil at discounts to market. The oil may be exported to surrounding countries at world prices or refined into finished products which will generate even greater profit margins.
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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Strat Petroleum Announces Asset Base for Oil Drilling Joint Venture 3/22/2005 5:10:01 AM
TORONTO, Mar 22, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (Other OTC:SPRL) today announced that preliminary review of the records of Saraktasch Oilgas Drilling Expedition Co., indicates the assets that will be available to the new joint venture for future drilling services are significant.
The Drilling Co.'s assets include the following: a) 31 acres of land at US$40,500/acre = US$1.26 million; b) 24 buildings at US$200,000 = US$4.8 million; and, c) 6 Uralmash drilling units at US$1,500,000 = US$9.0 million.
Currently the Company drills between 18-20 wells a year at an average cost of $1 million per well.
Strat Petroleum's commitment is to grow the business by providing additional financing; investing in more advanced equipment for drilling and maintenance; and offering other services such as 2D and 3D seismic testing, computerized logging and detailing the fields, etc.
Strat has the opportunity to significantly increase revenues by bartering drilling services in exchange for crude oil at discounts to market. The oil may be exported to surrounding countries at world prices or refined into finished products which will generate even greater profit margins.
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.
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Looking for SPRL to shed sellers, and begin movement upward today...VERY positive news yesterday, now shaking out weak hands - movement towards .30 is expected - solid swing play.
IP: Logged |
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Look at the charts and correlate that with the news releases in the last several weeks. This stock ain't moving on news anymore. That's overbought.
I have been trying to play this stock ever since I made good on the first run and I have gotten burned everytime since. I hope I'm wrong and the current holders do well. But imo, this is a sell.
IP: Logged |
posted
SPRL is very bullish going into the end of the week has hit other high of the day .205. Look for this one to really move next week. imo
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