Stratic set to scale Cairngorm

Offshore staff

CALGARY, Canada --Stratic Energy will drill a well on the Cairngorm prospect in the UK North Sea late in 2008. The well will be in block 16/2b, the location to be determined following interpretation of seismic data.

Elsewhere in the UK sector, Stratic is evaluating whether to convert a prospecting license covering several blocks in the Quad 210 area to a full exploration license.

In Quad 15 (Stratic 30%), there could be a well late next year to appraise the Bowmore gas-condensate discovery, to test a potentially deeper condensate/water contact. If proven, this could materially increase the size of the reserves.

In the Dutch sector, Stratic is aiming for approval from the government early in 2008 to develop the Horizon West oil field via an extended reach well from the P9 platform. This could be drilled mid-year, leading to first oil early in 2009.

11/26/2007