Post by JJSeabrook on Apr 24, 2006 17:57:13 GMT -5
They're PRing that they did a $24 Mil acquisition and they are negotiating acquiring 4X that much more or about another $100 Mil. YOWZA!!!!!
Press Release Source: Strat Petroleum, Ltd.
Strat Petroleum Forms 50/50 Joint Venture for Acquisition of Oil Sludge Reservoirs in the Republic of Bashkorstan
Monday April 24, 4:17 pm ET
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO--(MARKET WIRE)--Apr 24, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced it has formed a joint venture with a Russian Company that has registered a Limited Liability Company in the Republic of Bashkorstan with the purpose of acquiring reservoirs of oil sludge which will be reprocessed into finished products such diesel fuel, gasoline and other by products. The joint venture entity called "Strat Nafta Ufa" (SNU), has acquired two reservoirs totaling approximately 300,000 metric tons, which has high crude oil content an official market value of approximately $80 per metric ton or close to $24 million in total value. SNU is in discussions with the various local refineries and an Agency of the Ministry of Environment to acquire a further 1.2 million metric tons of reservoirs.
ADVERTISEMENT
The Republic of Bashkorstan is located in the Southern part of the Urals along the line of Europe and Asia. Its area is 143,600 km2. The capital is Ufa. The Republic of Bashkorstan is a sovereign state under the jurisdiction of the Russian Federation.
Bashkorstan annually produces around 130 million barrels of oil and possesses about 10 percent of Russia's refinery capacity. Russia started refining crude oil in Bashkorstan in the Ufa region initially. The Region has three major oil refineries and several chemical plants that generate oil sludge of approximately 10% of the annual amount of oil processed.
While major investment is being made by Russian refineries in equipment to improve the efficiency of their refineries, the sludge reservoirs remain undisturbed and are constantly being added to. Even with capital investment being made to upgrade the equipment in the antiquated refineries, efficiency may improve to 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
Current more advanced technology allows the 10% of unrefined crude oil sludge to be further refined to 98%-99% efficiency resulting in optimum recovery of oil or refined oil products. With rising oil prices it has become lucrative to recover previously unrefined crude oil that has been accumulated in sludge reservoirs. Furthermore, with environmental remediation concerns, further refining of oil sludge reservoirs becomes evidence of good corporate citizenship with the recovery of oil products found in the oil sludge reservoirs being a good financial byproduct.
The Company wishes to thank its shareholders for their loyalty and continued support despite no news releases being made for the past several months, said H. Sam Hyams, President and CEO of Strat Petroleum. Management has been diligently pursuing opportunities that would result in revenues and cash flows in the shortest possible time, and the processing of the oil reservoirs is expected to accomplish this objective.
The joint venture is in negotiations with several of entities to establish a new joint venture for investment in processing equipment and should complete the agreements and financing within several weeks.
Management has been cautious in ensuring that the viability and probability of success of each project it has pursued is realizable, and for this reason after completing due diligence on projects it announced in the past found a number of undisclosed liabilities and other risks that it would not have been prudent to make the necessary investment.
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 new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Closed at .08 on dumpy volume. I'll bet that volume goes up tomorrow! LOL Looks pretty darned good to me!
JJ :
:
Press Release Source: Strat Petroleum, Ltd.
Strat Petroleum Forms 50/50 Joint Venture for Acquisition of Oil Sludge Reservoirs in the Republic of Bashkorstan
Monday April 24, 4:17 pm ET
Acquisition Set to Bring Revenues to Company's Bottom Line
TORONTO--(MARKET WIRE)--Apr 24, 2006 -- Strat Petroleum, Ltd. (Other OTC:SPRL.PK - News), an emerging exploration and development company focusing on oil and gas properties in the Russian Federation, today announced it has formed a joint venture with a Russian Company that has registered a Limited Liability Company in the Republic of Bashkorstan with the purpose of acquiring reservoirs of oil sludge which will be reprocessed into finished products such diesel fuel, gasoline and other by products. The joint venture entity called "Strat Nafta Ufa" (SNU), has acquired two reservoirs totaling approximately 300,000 metric tons, which has high crude oil content an official market value of approximately $80 per metric ton or close to $24 million in total value. SNU is in discussions with the various local refineries and an Agency of the Ministry of Environment to acquire a further 1.2 million metric tons of reservoirs.
ADVERTISEMENT
The Republic of Bashkorstan is located in the Southern part of the Urals along the line of Europe and Asia. Its area is 143,600 km2. The capital is Ufa. The Republic of Bashkorstan is a sovereign state under the jurisdiction of the Russian Federation.
Bashkorstan annually produces around 130 million barrels of oil and possesses about 10 percent of Russia's refinery capacity. Russia started refining crude oil in Bashkorstan in the Ufa region initially. The Region has three major oil refineries and several chemical plants that generate oil sludge of approximately 10% of the annual amount of oil processed.
While major investment is being made by Russian refineries in equipment to improve the efficiency of their refineries, the sludge reservoirs remain undisturbed and are constantly being added to. Even with capital investment being made to upgrade the equipment in the antiquated refineries, efficiency may improve to 75%-80% recovery at best. This still leaves about 20%-25% unprocessed product that will again be disposed in oil sludge reservoirs as the refineries focus on refining crude oil which is their main line of business rather than on further refining sludge reservoirs.
Current more advanced technology allows the 10% of unrefined crude oil sludge to be further refined to 98%-99% efficiency resulting in optimum recovery of oil or refined oil products. With rising oil prices it has become lucrative to recover previously unrefined crude oil that has been accumulated in sludge reservoirs. Furthermore, with environmental remediation concerns, further refining of oil sludge reservoirs becomes evidence of good corporate citizenship with the recovery of oil products found in the oil sludge reservoirs being a good financial byproduct.
The Company wishes to thank its shareholders for their loyalty and continued support despite no news releases being made for the past several months, said H. Sam Hyams, President and CEO of Strat Petroleum. Management has been diligently pursuing opportunities that would result in revenues and cash flows in the shortest possible time, and the processing of the oil reservoirs is expected to accomplish this objective.
The joint venture is in negotiations with several of entities to establish a new joint venture for investment in processing equipment and should complete the agreements and financing within several weeks.
Management has been cautious in ensuring that the viability and probability of success of each project it has pursued is realizable, and for this reason after completing due diligence on projects it announced in the past found a number of undisclosed liabilities and other risks that it would not have been prudent to make the necessary investment.
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 new phone numbers are: 905-761-9169 (main), 416-628-8018 (fax) and 646-216-9751 (U.S.).
Closed at .08 on dumpy volume. I'll bet that volume goes up tomorrow! LOL Looks pretty darned good to me!
JJ :
: 