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Strat Petroleum Announces Additional Details of Latest Acquisition 7/28/2005 10:06:27 AM
TORONTO, Jul 28, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced additional details of its most recent acquisition, located in the "Energy Center of Russia." Strat acquired a 30 percent interest in a drilling and service entity located in the Tyumen Region, Russia. Panorama-TEK, a specialty oil drilling company, acquired the remaining 70 percent. The new entity will be established as a limited partnership with further details to be announced in the next press release.
Panorama-TEK will be looking to Strat to offer technological and financial support as the company works on increasing its existing client base through this new venture. Strat will bring western technology and expertise to enhance its ability to service clients with the most modern and up-to-date equipment and methodology.
"We believe Panorama-TEK has the qualified management and technical staff to provide all services required by the clients they work with," stated Sam Hyams, CEO of Strat Petroleum. "In addition, Panorama-TEK has teams of service personnel to ensure proper maintenance and management of all oil sites which includes everything from initial project engineering to bringing a new well to production or re-working an existing well."
The Tyumen Region has a population of over 3 million people. It has an area of 1.4 million square kilometers (8.4 percent of Russia's total area), which is equivalent to the combined areas of Germany, France, Italy, and Great Britain. The Tyumen Region stretches in the meridian direction of the Artic Ocean to the present Kazakhstan border. It actually divides the territory of the Russian Federation into two parts: the European part and Ural to the west, Siberia and Far East to the east.
About Panorama-TEK:
Panorama-TEK Co. specializes in complete service of complicated drilling, namely controlled directional and horizontal drilling, flat and horizontal wells with great offset of the bottom about the top, wells with horizontal bottom, specific wells (jury works) and side holes from casing pipe in well-recovery drilling. The Company has existing contracts with several Russian companies, such as Orenburgazprom, Rospan and others. The company is licensed by FLS of Russia and by Federal Engineering Supervision of Russia. For more information, visit www.Panorama-TEK.com.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80 percent interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also signed a Memorandum of Understanding to acquire 50 percent of Saraktasch Oil & Gas Drilling Expedition Co., a drilling and exploration company. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
SOURCE: Strat Petroleum, Ltd Cervelle Group Investor Relations: John Townsend (407) 475-9966, ext. 228 .
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Strat Petroleum, Ltd. ( Pink Sheets: SPRL ): Strat’s mission is to build a strong integrated petroleum company based on opportunities available in the Russian Federation and neighboring countries. This will be accomplished through development of crude oil sites with proven reserves and through the sale of refined products secured from a number of refineries with which the Company has very strong contacts. Strat Petroleum Website: http://www.stratpetroleum.com/home.html Strat Petroleum Basic DD post: http://www.siliconinvestor.com/readmsg.aspx?msgid=21083560Posts: 1113 | Registered: Jun 2005
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SPRL - Strat Petroleum Announces Multi-Million Dollar Contract to Service the Largest Oil Site in the Russian Federation 8/22/2005 8:30:48 AM
TORONTO, Aug 22, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced a multi-million dollar contract to service the largest oil site in the Russian Federation. The site is owned by Yuganstneftgaz, which was recently acquired by Rosneft as part of the dissolution of Yukos. Yuganstneftgaz manages 26 fields and has 11.63 billion barrels in proven oil reserves. The new joint venture between Strat and Panorama-TEK has negotiated one year contract for servicing of a number wells, with performance based option for an additional two years. Financial terms and other statistical data will be disclosed in the near future.
"Strat believes this is the first step to securing additional service contracts with other major oil companies in this and other regions," stated Sam Hyams, CEO of Strat Petroleum. "Based on securing the initial contract, and a number of other discussions and negotiations underway, this joint venture plans on becoming a significant provider of drilling and servicing in the oil and gas industry of the Russian Federation. Discussions are currently underway for contracts in the Orenburg Region to service fields for another major producer."
At Yuganstneftgaz, the average daily production from the fields exceeds 1 million barrels, which is about 1.6% of the world total. The fields have approximately 400 producing wells and significant opportunity for additional development of reserves. Recently, Rosneft purchased Yuganstneftgaz. Rosneft is a 100% state owned company and is now the third largest oil producer in the Russian Federation after the acquisition of Yukos' assets, the prize of which is the Yuganstneftgaz and its oil sites. The Company has an established growth plan which resulted in investment of close to US$1.5 billion in exploration and development, and production of over 150 million barrels of oil and gas condensate in 2004, which is expected to increase to 875 million barrels by 2015.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
SOURCE: Strat Petroleum, Ltd Cervelle Group Investor Relations: John Townsend 407-475-9966, ext. 228 .
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SPRL - Strat Petroleum Releases Further Details on its Latest Joint Venture -- Contract is Valued at Over $6 Million 8/25/2005 8:30:20 AM
TORONTO, Aug 25, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced details of its multi-million dollar contract to service Yuganstneftgaz, the second largest oil site in the Russian Federation. The contract, which is part of a joint venture with Panorama-TEK for the servicing of 13 wells, is valued at approximately $6,500,000 for one year with a performance-based option for an additional two years.
The average daily production from the Yuganstneftgaz fields exceeds 1 million barrels, which is about 1.6% of the world total. The fields have approximately 400 producing wells and significant opportunity for additional development of reserves. Recently, the Yuganstneftgaz fields were purchased by Rosneft, a 100% state owned company and the third largest oil producer in the Russian Federation after the acquisition of Yukos' assets, the prize of which is the Yuganstneftgaz and its oil sites.
"The seven-figure agreement with Rosneft is going to help us gain traction in the Russian Federation oil and gas industry," stated Sam Hyams, CEO of Strat Petroleum. "We're confident we will be able to generate significant revenue which should give us the opportunity to initiate servicing at other properties in the near future."
Rosneft has an established growth plan which resulted in investment of close to US$1.5 billion in exploration and development, and production of over 150 million barrels of oil and gas condensate in 2004, which is expected to increase to 875 million barrels by 2015.
About Strat Petroleum
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
SOURCE: Strat Petroleum, Ltd Cervelle Group Investor Relations: John Townsend (407) 475-9966, Ext. 228 .
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SPRL - Strat Petroleum Announces $5 Million Financing Agreement 9/7/2005 8:30:55 AM NEW YORK, Sept. 7, 2005, Sep 7, 2005 (PRIMEZONE via COMTEX) -- Strat Petroleum, Ltd. (Pink Sheets:SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced a financing agreement with two private investment groups for up to $5,000,000 in gross proceeds. The agreement calls for the funds to be obtained in stages with completion of the full $5 million scheduled for the end of November, 2005. The financing provides Strat with working capital for the joint venture with Panorama-TEK, along with evaluation and production at other oil properties.
"We are committed to executing our business plan and securing this financing comes at an excellent time for us since we have a number of outstanding opportunities within the Russian Federation that will give us a distinct advantage over our competition," stated Sam Hyams, CEO of Strat Petroleum. "We are aggressively moving forward with a number of exciting oil and gas development and drilling projects which we hope we can announce shortly. Focusing on creating further shareholder value and communicating with our loyal shareholders are also top priorities for us as well."
Recently, Strat announced a $6.5 million joint venture with Panorama-TEK for the servicing of 13 wells, at Yuganstneftgaz, the second largest oil site in the Russian Federation. The contract is for one year with a performance-based option for an additional two years plus an opportunity to service between three and four times the number of wells. The average daily production from the Yuganstneftgaz fields exceeds 1 million barrels, which is about 1.6% of the world total.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on oil and gas properties in the Russian Federation. Strat completed an agreement to acquire an 80% interest in a Northern Orenburg oil and gas property in Russia, which has proven reserves of 11.25 million barrels of crude oil and probable reserves in excess of 25 million barrels. Strat has also acquired 30% of a new oil and gas drilling and servicing joint venture established with Panorama-TEK. For more information, visit http://www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
SOURCE: Strat Petroleum, Ltd Cervelle Group for Strat Petroleum, Ltd Investor Relations: John Townsend (407) 475-9966, Ext. 228
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HEADS-UP From a helpful poster on RB, here is the list of the upcoming events (only not sure about the correct order)... it will be fun for the coming weeks, months, years....
1. Annual report 2004 2. 3Q's or annual report 2005 3. Hit $1.00 share price 4. Update on JV with Gazprom.....Both parties have confirmed their desired intent to continue in joint venture discussions. Preliminary discussions have led to interest in 4 additional fields aside from the Rozhdestvenskoe oil site, and Strat executives have requested for appropriate documentation in order to submit an official tender on 3 of the sites....... 5. Update on the completed agreement with a Company in Russia called the Industrial Scientific Centre to establish a 50/50 joint venture, and 80% net profit interest to develop a field with significant reserves known as the Ementajevskoje oil site. The field has proven reserves of over 11.25 million barrels of crude oil, and probable reserves of over 26.0 million barrels. 6. Update on the Rozhdestvenskoye oil site 49% working interest - 75 M bbls, 109 Bilion Btu.....Initial results indicate, the field currently has two producing wells, #230 which produces 375 barrels per day and #236 producing 600 barrels per day, which generate over $500,000 per month in revenues..... 7. Update on Memorandum of Understanding to participate in a project that will develop and process certain coal oil reserves in the Yakutia Region..... 8. Update on has been offered the first right to participate in two additional fields in the Orenburg Region with proven and probable reserves exceeding 35 million barrels of oil each...... 9. Update on reached an understanding to acquire a 50% interest in Saraktasch Oilgas Drilling Expedition Co., located in the Orenburg Region...... 10. Hit $ 5.00 share price 11. Update on the drilling activities..... drilling within 60 to 90 days of the announced agreement on February 16th of this year, and we feel confident with that timeline...... 12. Update of financing for the Saratov oil site for up to $10 million line of credit towards acquisition and development of the site...... 13. AMEX listing 14. Update on the relations with OIG and NN-trading and AssoNeft and Oil-and-Gas-systems..... 15. Enhancements of deals with Panaroma TEK...... 16. Others.....
SPRL was previously Inese Corp. (..private, 10years old+..). Inese Corp. was reverse-merged into the dormant shell for F2. F2, being a former, failed South Florida POS, still had some crabs in the bedding. When all was said and done there was a total of 1.3 Billion shares out.
With clear and advance notification to shareholders, SPRU was R/S'd to clean it up and CUSIP'd into being SPRL under the same name. The r/s was a non-event; effected at a 13:1 ratio that ocurred at equal value. $0.0022 became $0.03 and the PPS has never looked back.
Based on the values of PR'd and non-PR'd acquisitions, properties, O&G reserves, and rights acquired in Russia, when the next PR or two are released the valuation of the company may well soar to levels meeting the AMEX requirements; however, they are shooting for $6.50+ for some technical reasons, so a 2:1 or 3:1 is a possibility - but not guaranteed to be needed.
So far, SPRU at 0.0022 is one of the better investments I've ever made. And even in they did a 3:1 in the AMEX move to achieve the $6.50 - that would be $1MM+/- in my account. Not too bad for a Pinkie crap-shoot, IMHO.
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ps: This was Sam Hyams (CEO) first venture into owning/running a public company. Some of the people involved in the F2 Shell R/M were dishonest scum. As he discovered that and who they they were he discharged and/or dismissed them from further involvement. Most, having dumped their R/M "..gimme share..", were thoroughly 'whizzed' that they wouldn't be getting any more handouts, so they attacked the company via the SEC (..a non-event..) and then went into WWW Bash-mode (..another squirt into the wind..). The insiders and Longs own and hold this company rock-solid. I think it's going to be a major winner.
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Strat Petroleum Continues Aggressive Pace of Acquisitions
TORONTO, Jun 01, 2006 (MARKET WIRE via COMTEX) -- Strat Petroleum, Ltd. (PINKSHEETS: SPRL), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced that its joint venture entity Strat Nafta Ufa (SNU), has acquired additional reservoirs totaling 250,000 metric tons in the Republic of Bashkorstan.
"Seeing the lucrative nature of this highly specialized niche, several European institutional entities are now in advanced negotiations with our joint venture to establish a new partnership for the purpose of investing in processing equipment," said Sam Hyams, CEO of Strat Petroleum, "and within weeks, the agreements and financing should be completed." Initial indications are for an investment of at least $10 million for the additional purchase of sludge and sludge processing equipment.
Encouraged by the indication of institutional support, Strat has broadened its base for the acquisition of oil sludge reservoirs by establishing a joint venture in the Republic of Tatarstan. Tatarstan is the third largest producer of oil, and Tatneft, the regions largest oil producer, has a stable annual production of approximately 170 million barrels of oil. Its largest refinery processes 25 million barrels per year, and consistent with the age of similar refineries in the Russian Federation, efficiencies range at 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
In the company's efforts to generate revenues and cashflows immediately, an agreement with a local processor is being negotiated to supply up to 3600 metric tons per month of sludge.
Based on current market prices in the Russian Federation, the total reserves acquired have the potential to generate over $165 million over the next three to five years.
"We are very excited to report that along with these acquisitions, Strat and its joint venture entities have all the required Government approvals to construct processing plants directly at the sludge reservoir sites," said Sam Hyams.
Strat Nafta Ufa (SNU) reserves now total in excess of 1,000,000 metric tons with an official market value of approximately $80 per metric, valuing the reserves acquired at approximately $80 million. Strat Petroleum, in conjunction with its joint venture entities, will continue its discussions with the various Government agencies and regional refineries to acquire an additional 1 to 2 million metric tons of reservoirs.
About Strat Petroleum:
Strat Petroleum is an emerging exploration and development company focusing on investment in oil and gas properties and other related projects in the Russian Federation. For more information, please visit the company website at www.stratpetroleum.com. The company's new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
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