Address
130 Jermyn Street
London
SW1Y 4UR
United Kingdom
http://www.straticenergy.com
Telephone
+44 (0)207 016 6420
Email
stratic@straticenergy.com
Description
Stratic Energy Corporation is a Canadian-incorporated international oil and gas company involved in the production, development, appraisal and exploration of hydrocarbons. The Company's key interests are in the North Sea (UK and Dutch sectors), Italy and the Black Sea (Turkey), with further interests in Syria, Tunisia, Slovenia, Romania and Morocco. The Company's asset portfolio encompasses near-term production, development, appraisal and exploration properties. The Shares are currently listed on the TSX Venture Exchange.
Stratic Energy Corporation and Grove Energy Limited
In February 2007, Stratic Energy and Grove Energy agreed to merge their respective businesses, subject to approval by Grove's shareholders and to certain other conditions. The combined company will be called Stratic Energy Corporation and its Chief Executive Officer will be Kevin Watts. Wolfgang Zimmer, Grove's current Chief Executive Officer will become President and Chief Operating Officer and will join the board of the combined company. Andrew Childs will also join the board as a non-executive director. Sir Graham Hearne will remain as Chairman. The proposed transaction has been approved by the boards of both Stratic Energy Corporation and Grove Energy Limited.
The new business will own interests in development projects in its core areas of the Black Sea (offshore Turkey), the North Sea (UK and Netherlands sectors) and The Po Valley (onshore Italy). The company will also own longer term exploration acreage in Tunisia, Syria, Morocco, Slovenia and Romania, but intends to rationalize these areas over the balance of the current year. First production from the most advanced of the company's development projects in the Black Sea is expected to start within the current quarter, and other projects in the North Sea and Italy are expected to start producing in 2008.