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Seeing some upticks today over yesterday, and is now consolidating in the upper teens, while bouncing off of .15 support. Looking for confirmation of an uptrend soon. Doji candle today - a nice fat bullish-engulfing would look nicer tomorrow. Holding well, just over 200dma - will be on bounce-watch for remainder of week.
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Strat Will Retain the Services of Macleod Dixon LLP 4/8/2005 10:46:01 AM
TORONTO, Apr 08, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (National Quotation Bureau: SPRL) has decided to retain Macleod Dixon LLP (www.macleoddixon.com) to provide legal services for the Company's involvement in Russian oil & gas projects. Macleod Dixon was selected for their international expertise in energy and finance and their very strong representation in the Russian Federation.
With 250 legal professionals in five offices, Macleod Dixon is one of Canada's largest international law firms. The firm has been providing comprehensive legal services to a wide variety of domestic and international clients since 1912.
Macleod Dixon has been providing legal services in the Commonwealth of Independent States (CIS) since 1988, and in 1990 became one of the first international law firms to be accredited in the former Soviet Union (renewed by the Russian government in 1993 and 1996). The Moscow office opened in 1990. In 1994, and became one of the first law firms to be accredited by the Government of the Republic of Kazakhstan, which led to the opening of the office in Almaty, Kazakhstan, in 1995. The firm is also licensed to practise in Mongolia, and do so from the Moscow office.
Macleod Dixon is a full-service law firm with legal expertise in a wide variety of areas including domestic and international energy and natural resources, corporate and commercial, environmental, trade, public, regulatory and administrative law, international finance, international taxation and intellectual property/technology transfer issues.
The firm's Russian lawyers have gained experience dealing with autonomous republics and local administrations and officials in many areas throughout the former Soviet Union.
Lawyers in all offices have extensive expertise in international resource and corporate and commercial matters, not only in Russia and Kazakhstan but in other countries of the former Soviet Union and in Mongolia.
Of particular interest is the proven ability of Macleod Dixon's lawyers to operate in the diverse and challenging legal environments of countries with emerging and newly-opening economies.
Energy Law Practice Group
Energy law is the centerpiece of Macleod Dixon's practice. The firm provides advice to its clients on legal aspects of exploration, development, production, transportation, marketing of oil and natural gas, and financing companies in this field in public and private markets. The firm has been involved in transactions in the CIS, North America, Europe, Asia, South America and Africa, acting on behalf of exploration and production companies, oil and gas service companies, royalty owners and governments. They have assisted clients in structuring joint ventures and partnerships to conduct oil and gas activities; performed due diligence for oil and gas and securities transactions; secured and transferred mineral licenses and provided comprehensive regulatory and commercial advice on major projects such as processing plants, pipelines and cogeneration facilities.
The Moscow office of Macleod Dixon is ranked as one of the top five Energy and Natural Resources practices in Russia by Chambers & Partners The World's Leading Lawyers 2001-2002.
Strat Petroleum will be looking to Macleod Dixon to review and complete due diligence, legal documentation and agreements required to protect its investment in the various projects it will be undertaking in the Russian energy sector.
Strat is in the process of finding a similarly reputable accounting firm to ensure that financial records and reporting are reviewed, audited and prepared and reflect the true financial performance of the various projects, in accordance with GAAP. An announcement about the firm to be engaged will be forthcoming in the near future.
Strat will also be addressing some of the concerns of its shareholders about the risks of doing business in Russia and how it will ensure its investment and profits are protected in future press releases.
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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Strat Petroleum, Ltd. in Discussions to Acquire a 49% Interest of Oil Company with Existing Production in Russia, with Financing Update 4/11/2005 4:41:01 PM
TORONTO, Apr 11, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (Pink Sheets: SPRL) is in discussions with a Russian Oil Company to acquire a 49% interest of the above said Company.
The latest geological study performed in 2004 by a European geological firm estimates proven reserves at 24.5 million barrels and probable reserves in excess of 140 million barrels of oil. The fields currently have two wells producing approximately 700 barrels per day, generating about $3 million of revenue per month.
This opportunity provides advantages to it, as the Company has a railway storage terminal for 14,000 barrels of crude oil; a major gas pipeline crosses the field, and other assets such as trucks, machinery and equipment. Strat is in the process of performing its due diligence and finalizing the terms and conditions of the acquisition.
Strat has also been in discussions with a private financing group and has received a letter of intent to fund the Company up to US $10 million to complete the acquisition, increase production from the two producing wells, and drill four new wells for which all approvals have been received. Further news about this opportunity will be released once due diligence and agreements have been completed.
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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Strat Petroleum, Ltd. Advances Negotiations with Financing Group for $10 Million Funding for Saratov Oil Site 4/19/2005 10:12:02 AM
TORONTO, Canada, Apr 19, 2005 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (Pink Sheets: SPRL) issues update of financing for the Saratov oil site for up to $10 million line of credit towards acquisition and development of the site.
The Funding Group is currently completing its due diligence of the documentation received which includes licenses to the fields, preliminary valuation of the licenses by a British petroleum engineering services company, assets owned by the Company, and other reports and documents provided.
The Funding Group will be acquiring a 25% working interest in the wells being financed which are initially expected to be drilling of the two producing wells to bring them to commercial production status and then begin drilling of four new sites identified. The funding will not result in any further dilution as no new equity is expected to be issued to the Group.
Strat has also been in discussions with a private financing group and has received a letter of intent to fund the Company up to US $10 million to complete the acquisition, increase production from the two producing wells, and drill four new wells for which all approvals have been received. Further news about this opportunity will be released once due diligence and agreements have been completed.
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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I Would also like to Invite Jmhollen to come back in here and discuss his current thoughts on SPRL the very stock he was pumping not so long ago. Im sure he has a new name by now though LOL
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