Hi Jerry;
Just saw that Stratic released some news.This may put Stratic in the position now to move forward on further aquisitions in North Africa.
Stratic Announces Sale of Subsidiary and related Mali Exploration Liability
CALGARY, July 16 /CNW/ - Stratic Energy Corporation announces that it has
received the approval from the Republic of Mali to the sale of all of the
issued and outstanding shares of its wholly owned subsidiary, Sahelian Oil
(B.V.I.) Limited (''Sahelian'') to Engross Ltd., an oil and gas company
involved in the exploration and development of hydrocarbons in West Africa.
The only assets of Sahelian are the Mali Hydrocarbon Exploration Permit,
USD $85,000 and warrants to acquire 100,000 common shares of Stratic at
USD $0.20 per share, which expire September 15, 2002.
As previously announced, Stratic has elected not to pursue further
exploration of its Mali Permit. The sale of Sahelian transfers the Mali
exploration commitments out of Stratic, freeing Stratic to pursue other
exploration programs in Gabon and Côte d'Ivoire.
Stratic currently has 14,385,122 shares issued and outstanding and trades
on the Canadian Dealing Network under the symbol ''SECO''.
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For further information: Hugh Ross, President and Chief Executive
Officer, (403) 264-6161, Ketan Panchmatia, Chief Financial Officer, (403)
264-6161 |
