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Stratic Plugged and Abandoned Block 17 in Syria

Source: www.gulfoilandgas.com 1/25/2010, Location: Middle East

Stratic Energy Corporation announces that the Al Tayr 101 well, drilled on its operated Block 17 concession in Syria, has reached TD and is being plugged and abandoned following an unsuccessful test program.

The well was spudded on October 7, 2009 and was drilled to a depth of 3,150 meters. The well encountered gas shows throughout the Kurrachine Dolomite section, the main producing horizon within the Ash Shaer and other nearby producing fields. The well was tested, including an acid stimulation program, over two prospective intervals, neither of which flowed gas to surface. The well satisfies the exploration commitment in the first phase of the concession.

Mark Bilsland, Stratic’s Chief Operating Officer commented: “We are disappointed that this promising prospect failed to flow gas to surface. We and our partners, Kufpec and Dualex, are evaluating the results of the well and the remaining prospectivity on the acreage to determine the next steps in the exploration program.

Stratic is operator and holds a 35% working interest in Block 17 in Syria.

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