Prior to being placed on the Pink Sheets, F2 Broadcast Network, Inc. was a fully reporting Bulletin Board Company. To become a fully reporting Bulletin Board Company once again, all SEC reports and financials must be brought up to date from the end of 2001. Due to the inactivity of F2 Broadcast since January of 2002 management expects this should not be a time consuming or a costly task. The Company will actively begin interviewing accounting firms with the ability to complete this task in the very near future.

Strat Petroleum, Ltd. was established to build on the strong contacts and relationships our management and other team members have in the Russian Federation and other CIS countries in the oil and gas industry.

Strat Petroleum's corporate strategy is to build strong asset value through the acquisition of licenses for oil and gas properties with proven reserves and where possible with producing or capped wells, initially in the Russian Federation. The Company will look to invest in the development of the fields through direct investment or the establishment of joint ventures. The Company will also look to leverage relationships with local refineries to secure refined oil product for sale to international markets, in order to generate revenues and cash flows. To achieve these objectives, the Company intends to follow an aggressive acquisition and sales strategy and to pursue the best available financing alternative for each opportunity in order to complete such transactions and to realize early returns on investment. Our aim is to be selective in securing those opportunities that have the lowest risk while diversifying sources of revenue through sale of crude oil and refined products.

The initial opportunity available is the right to acquire a working interest in one or more oil and gas fields in the Region of Orenburg, Russia, which is located in the Urals of Western Siberia. The Company is currently negotiating the terms and conditions of the investment and is in the process of raising the necessary funds to complete the acquisition.

Orenburg Oblast (Province) is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits there. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. However, substantial investment is required in order to further develop the region's oil and gas extraction industries. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested.

Your management team will be focused on developing the various opportunities presented in order to build a strong Company and above all increase shareholder value.

Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our office at (416) 419-6826.

Thank you for your interest in Strat Petroleum, Ltd.

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.

TORONTO, Aug 2, 2004 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (SPRU, Trade) is pleased to announce the immediate appointment of the following individuals to the Company's Board of Advisors.

Mr. Valeryi D. Krukov-Corporate Legal Advisor

Mr. Krukov graduated from the Law School at University of Krasnodar, Russian Federation in 1999 and has risen through the professional legal system at an extremely quick rate. He worked with the District Attorney's office on cases presenting most difficulty with many complications. He then moved to become Head of the Law Department for the Ministry of Fisheries, until he was appointed as Deputy Chief Judge of the Moscow Supreme Court, where he served for the past two years. Currently, Mr. Krukov is an independent practicing attorney and is the lead advisor to Dresdner Bank for Russia. In Mr. Krukov's role, he will ensure the Company fulfills all the legal requirements of doing business in Russia; review and participate in negotiations of acquisitions and joint ventures the Company may enter into. Further, Mr. Krukov's knowledge and experience of the financial industry in Russia will enable him to assist in securing and closing project financing with the various financial institutions the Company will be approaching, both in Russia and Europe.

Mrs. Elena V. Korzun, Ph.D. Oil & Gas - Consulting & Lobbing

Dr. Korzun is the General Director of "AssoNeft", the Association of small and medium size oil & gas producers in Russian Federation which was established in 1994. The association has 45 member companies. These companies own more than 400 oil fields and has produced more than 16 million ton of crude oil in 2003. Approximately 20,000 people are employed by these companies. Dr. Korzun is considered as an expert in the laws & regulations for the oil and gas industry. She has successfully lobbied the Federal Government on many occasions on behalf of "AssoNeft", to increase opportunities, and advantages for the smaller independent producers, and government benefits for the workers. Dr. Korzun will assist the Company in establishing its operations in the Russian Federation, by introducing and promoting it to the other producers.

Victor P. Philipov, PhD., Geology - Consulting Geologist

Dr. Philipov is Dean of the Geological Faculty of the Gubkin Oil and Gas University in Moscow, and is considered as the expert in oil and gas in the Russian Federation. He has over 25 years experience with the Ministry of Oil and Gas Industry, where the last position he held was Chief Geologist. During his career he explored and documented geological findings for all regions of the former Soviet Union.

Dr. Philipov will assist the Company in identifying sites that have the greatest probability of reserves with least recovery costs. He also will ensure geological and feasibility studies contain necessary information and data to receive approval from the appropriate authorities.

Alexander A. Arbatov, PhD., Economics - Consulting

During the Soviet era, Dr. Arbatov was employed with various departments of the Academy of Science providing political, economic and diplomatic advice to the Government on relationships with the West. Since the breakup of the Soviet Union, Mr. Arbatov established and has been the Chairman of the Energy Center for the Russian Federation. This organization provides the Government with analysis and recommendations regarding the development of oil and gas sites in the Country, which are then provided to the likes of BP, Exxon, Mobil, Shell for investment and drilling.

Dr. Arbatov will advise the Company on projects that will provide the best possibility of success, and ensure feasibility studies completed meet all requirements for approval.

Strat is delighted to announce these nominations. With their extensive petroleum, legal, government and management backgrounds, the appointed advisors will enhance Strat's abilities to maximize its performance.

Strat Petroleum, Ltd. is a petroleum based company acquiring licenses for oil and gas properties with proven reserves and where possible with producing or capped wells initially in the Russian Federation.

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.

THEN NEWS YESTERDAY WAS HUGE

TORONTO, Aug 3, 2004 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (OTCPS: SPRU) has entered into an agreement to acquire a 24.5% working interest of a large field, known as the Rozhdestvenskoe oil site, with proven reserves of:

-- 75,217,000 bbls of crude oil
-- 109 billion Btu of natural gas
-- 483,000 metric tons of gas condensate

Gazprom, a major Russian oil & gas producer and refiner currently own the field in the Orenburg Region, West of the Ural Mountains. The field is also only 20 km from the Orenburg-Kopanka Pipeline with a major refinery located 60 km from the field. The site has been recommended as one of 15 most profitable oil fields discovered.

The Orenburg Region is a leading oil and gas producer. Exploration has revealed over 140 oil and gas deposits. Proven reserves of oil exceed 963.1 million bbls, while gas estimates are 28.23 trillion Btu. The region has an estimated 40 to 50 years of commercially exploitable natural gas reserves. Orenburg currently produces between 63.5 and 64.3 million bbls of crude oil. Only about 1% of proven reserves have been extracted which not only leaves significant quantities yet to be extracted but large tracts of land still untested. Strat Petroleum has identified several other opportunities that are under review.

Reserves and Production of the Site:
-- Initial research of the area was done in 1986 and the first
well was drilled in 1987, which proved to have oil and natural
gas.
-- Six more wells were drilled subsequently, of which four (4)
proved to be productive.
-- In 1991, drilling occurred at deeper levels to establish the
seismic structure of the site.
-- In 2001 the seismic structure was further evaluated with
positive results, resulting in the conclusion that production
of oil and gas would result from a program of deep drilling.
-- The four wells have been capped currently. Prior to be being
capped the test production wells produced:
-- 302,400 bbls of crude oil;
-- 1.62 billion Btu of natural gas; and
-- 25,000 metric tons of gas condensate
-- These wells are capable of producing similar or greater
quantities upon being uncapped.
-- The cost of extraction of crude oil will range from US $6.60
to $10.60 per bbl depending on the depth of the reserve

Strat Petroleum, Ltd. strategy is to build a strong asset value through the acquisition of oil & gas properties with proven reserves or producing/capped wells initially in the Russian Federation. Should you wish any additional information on our projects or management team, please visit our website at www.stratpetroleum.com or contact our office at (416) 419-6826.

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.