RNS Number : 2317I
Stratic Energy Corporation
08 March 2010
NEWS RELEASE
West Don Field - Commencement of Pipeline Export
CALGARY and LONDON, March 8, 2010 - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ("Stratic" or the "Company") announces that pipeline export for the West Don Field via Lundin's Thistle platform into the Brent Pipeline System for delivery at Sullom Voe terminal commenced on March 5, 2010.
Since initial field start up in April 2009, West Don production has been exported via shuttle tankers loading from a single anchor leg (SAL) mooring system; this enabled early production from the field but was susceptible to interruption from severe weather. As originally planned, export has now been switched to a permanent pipeline export route via Lundin's Thistle platform; this is expected to reduce interruption and to improve production stability and export operations. Stratic estimates that West Don production to date through the SAL system accounts for 11.0% of its proved and probable reserves, leaving the bulk of the field's reserves to be recovered through the more stable pipeline off take route.
Petrofac, the West Don Field operator together with Lundin (Thistle Operator) began modification of the Thistle platform in late 2008; this work included the installation of a new flexible riser hang off platform. The final tie-ins and pipeline commissioning operations were completed by the end of February 2010.
Mark Bilsland, Stratic's Chief Operating Officer, commented: "We are delighted that the West Don field has been successfully tied in to the Brent Pipeline System via the Thistle platform. This planned change over to pipeline export sees the completion of the initial development plan for the West Don Field and is expected to improve production and export performance."
TSX-V notification
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.
Stratic's Chief Operating Officer, Dr Mark Bilsland BSc (geology), PhD (petroleum petrophysics), and member of the SPE, is the qualified person who has reviewed and approved the technical information in this announcement for the purposes of the AIM Rules for Companies (incorporating the Guidance Note for Mining, Oil and Gas Companies).
For further information contact:
Kevin Watts, President and Chief Executive Officer +44 20 7766 7900
Mark Bilsland, Chief Operating Officer +44 20 7766 7900
Patrick d'Ancona, M: Communications +44 20 7153 1547
Canadian Investor Relations
Roger Fullerton +1 952 929 7243
Email: roger.fullerton@straticenergy.com
Website: www.straticenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
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