Update on Strata Energy Services


 

TIDMQOGT 
 
RNS Number : 6168Z 
Quorum Oil and Gas Tech. Fund Ld 
24 September 2009 
 

Not for release, publication or distribution in, or into, the United States, 
Canada, Australia or Japan. 
 
 
+------------------------------------+------------------------------------+ 
| Press Release                      |                  24 September 2009 | 
+------------------------------------+------------------------------------+ 
 
 
 
 
 
 
Quorum Oil and Gas Technology Fund Limited 
 
 
("Q-OGT", "the Fund" or "the Company") 
 
 
Update on Strata Energy Services 
 
 
Quorum Oil and Gas Technology Fund Limited (LSE:QOGT), a registered closed-ended 
Guernsey investment company traded on the London Stock Exchange, wishes to 
provide an update on the performance of Strata Energy Services, Inc. ("Strata"), 
its largest investment. 
 
 
Strata continues to grow its gross revenue and EBITDA numbers organically, with 
gross revenue well in excess of $30 million and EBITDA in excess of $10 million 
expected for fiscal year to 30 November 2009. 
 
 
Strata's negotiations in respect of its acquisition of a company with 
significant contracts and operations internationally continue. 
 
 
In addition to its ongoing 2009 organic growth, Strata is also in negotiation 
with a major national oil company in respect of a major new contract which could 
drive additional revenues during fiscal year 2010 of between c$30 million and 
c$35 million. This contract would require capital spend on new equipment and it 
is likely that Strata will be unable in the near term to complete both the 
acquisition and the new contract and may therefore decide to proceed with the 
latter. 
 
 
 
 
- Ends - 
 
 
  For further information: 
+-----------------------------------------------+--------------------------+ 
| Investment Manager                            |                          | 
+-----------------------------------------------+--------------------------+ 
| Quorum Group                                  |                          | 
+-----------------------------------------------+--------------------------+ 
| Wanda Dorosz, Managing Partner & CEO          |     Tel: +1 416 971 6998 | 
+-----------------------------------------------+--------------------------+ 
| wdorosz@quorum.ca                             |                          | 
+-----------------------------------------------+--------------------------+ 
| David Sefton, Quorum European Partners LLP    |    Tel: +44 (0) 7989 333 | 
|                                               |                      371 | 
+-----------------------------------------------+--------------------------+ 
| david.sefton@quorum-london.com                |        www.q-ogtfund.com | 
+-----------------------------------------------+--------------------------+ 
 
 
  Media enquiries: 
+-----------------------------------------------+--------------------------+ 
| Abchurch                                      |                          | 
+-----------------------------------------------+--------------------------+ 
| George Parker / Mark Dixon                    |     Tel: +44 (0) 20 7398 | 
|                                               |                     7708 | 
+-----------------------------------------------+--------------------------+ 
| mark.dixon@abchurch-group.com                 |   www.abchurch-group.com | 
+-----------------------------------------------+--------------------------+ 
 
 
Notes to editors: 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry. The Fund is managed by the Quorum Group, a 22 year old strategic 
sector private equity firm, headquartered in North America, which also has a 
subsidiary and office in London, Quorum European Partners LLP.  Q-OGT was 
admitted to the Official List of the UK Listing Authority and to trading on the 
London Stock Exchange on 7 January 2008. Its stock market EPIC is QOGT.L. 
Further information can be found at www.q-ogtfund.com 
 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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