Stratic clinches £75m facility

Companies: SE.

11/04/2008

Canadian oil and gas developer Stratic Energy Corporation has finalised US$150 million (£75 million) of senior secured debt facilities.

Quoted on the Toronto stock exchange and AIM, with projects in the North Sea, Italy and the Turkish North Sea, Stratic has arranged the facilities for its subsidiaries with Royal Bank of Scotland and Société Générale as ‘joint mandated lead arrangers’, and other banks. This is a significant development for the company. North Sea involvements include the Breagh wells, where the operator recently signed a drilling contract.

The debt deal has seen Stratic’s depressed shares, which hit 57.5p, perk up 1p today to 33.5p, valuing the company at £91 million.

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Robert Tyerman

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Stratic Energy Corporation	AIM	£31.35m	11.50p	0.25p
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Other company articles:
Stratic clinches £75m facility			11/04/2008
Newcomer - Stratic Energy			21/06/2007

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