Strat Petroleum, Ltd. today announced the finalization of an agreement to receive funding to develop the first well at the Ementajevskoje field and complete a feasibility study of the site. The agreement finalized with the Aurora Capital Shefa Fund LP, allows the Company to immediately draw up to $1.5 million for the completion of drilling of the first well and provide working capital. The agreement allows Aurora Capital to participate in the project under one of two alternatives to be finalized at the completion of the feasibility study.
Under alternative one, Aurora would earn a 33% interest in the first well and upon 100% return of capital, its interest would be reduced to 25% for the life of the well; Alternative two would allow Aurora the right to a 5% royalty on gross revenues from well production for the life of the well and 10% in warrants of the invested amount to be exercised 12 months after investment at a 50% discount to market.
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.
posted
SPRL News out this morning..Stock was trading around .35 last month .Solid company.could be a nice play this week.
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.
Current price SPRL: .17 resistance 25,30,35 williams %R -70 and oversold Trix -4 and leveling, if she goes up then we have a confirmed BUY and it looks like that is the way she is headed Bollinger bands .15 bottom .30 tops for now.
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.
posted
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.
posted
I played this last time and it was great.It didn't run up and drop like a rock and was a nice steady play for a few days,I almost forgot this one!
IP: Logged |
posted
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 |
posted
SPRL has been on watch by many promo teams today. Looks like we are on the verge of some breakout news coming. I entered the other day and added today as well. Holding long here in wait for news to come. Tops looks like 30 area
IP: Logged |
posted
SPRL is looking very bullish going into end of week here! We are seeing renewed accumulation late-today, in advance of what is supposed to be some very good news soon.
This stock has moved very well as a swing in prior weeks, and we should see similar movement quite soon!
A .20 break will be easily achieved today/Monday - SWING target of .30 is predictable, AND we can watch for higher, as it has reached upper 30's only a few weeks ago.
IP: Logged |
posted
I haven't really seen anything as far as newsletters go,but I have seen it on the boards.I think it could only add to the momentum.Last time we saw around .35 so who knows?.I'm hoping for another run like that.Looks like .25,if we see it,could be a little sticking point but if we can break that area I think we could see at least .30.
quote:Originally posted by trust: What do you guys think? Looks like there has been a significant pumping of SPRL is a series of newsletters and boards.
posted
I'm surprised we didn't sell off a little bit after the bell today.This stock is stonger than i thought.Today looks like it was forming a base and a new support line here.The next few days could get interesting.
IP: Logged |
Strat Petroleum, Ltd. today announced the initiation of the development of the Ementajevskoje oil field. With finalization of an agreement to receive funding and develop the first well, the company has begun a feasibility study of the site which should be completed sometime in April.
The Ementajevskoje oil site, the license to which is currently owned by the Industrial Scientific Centre, has proven reserves of over 11.25 million barrels of crude oil, and probable reserves of over 26.0 million barrels. The company has an agreement with the Industrial Scientific Centre to establish a 50/50 joint venture, and an 80% net profit interest to develop the field.
Upon completion of the feasibility study, the company will order the drilling rigs out to the site, and expects drilling to commence in early May. Production is expected to begin in late June.
"We are very excited to see our plans progress," Sam Hyams, President and Chief Executive Officer of Strat Petroleum Ltd was quoted as saying. "We had hoped to begin developing and drilling within 60 to 90 days of the announced agreement on February 16th of this year, and we feel confident with that timeline."
In other news, the Company announced its continued due diligence progress on analyzing and verifying geological and legal documentation presented to the company on other fields, and expects to release further updates in the very near future.
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.
posted
Nice close friday folks.looking for something to happen here early this week.Looks like we had some pretty good buys going into the end of day.
IP: Logged |
posted
Sounds like a pump and dump to me. Staying long with AMEP where I know oil is flowing. A little beats none. But I'm wrong than right. Good luck to all.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Razz]](tongue.gif)
![[Big Grin]](biggrin.gif)
![[Smile]](smile.gif)
