SPRL -- Strat Petroleum Completes Delivery of Processed Oil from Sludge
TORONTO, Nov 14, 2006 (BUSINESS WIRE) -- Strat Petroleum, Ltd. (OTC:SPRL), an
exploration and development company focusing on oil and gas opportunities in the
Russian Federation, announced today that Strat Nafta Ufa (SNU), its joint
venture in the Republic of Bashkorstan, has completed the initial shipment of
processed oil from oil sludge. Each shipment contains approximately 200 barrels
towards a total delivery of between 400 and 500 barrels per week with current
equipment and technology. The joint venture is investing in additional equipment
that is expected to increase production and shipment to approximately 150 bpd
within the next 30 days.
In its efforts to rapidly improve production, Strat continues to work closely with a U.S. chemical company whose proprietary technology is projected to significantly increase daily processing capacity. Current testing indicates that the Strat Nafta Ufa plant should process at least 50 metric tons (MT) of sludge per hour, operating on a 24 hour 7 days a week basis. The processing equipment and methodology currently being employed will be scalable to process several hundred tons of sludge per hour once the plant is up and running at full capacity. Expectations are that recovery of crude oil should average between 40 to 50 percent of sludge processed, resulting in a production capacity range of 140 to 175 barrels of crude oil per hour. This process and technology will be superior to any processing solution available in the market today.
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 phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
SOURCE: Strat Petroleum, Ltd.
CONTACT: Strat Petroleum, Ltd.
Tanya Hyams, 905-761-9169
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