Stratic closes sale of Italian business to Enel


 

TIDMSE. 
 
RNS Number : 4591K 
Stratic Energy Corporation 
20 April 2010 
 

 
 
 
 
                                  NEWS RELEASE 
 
 
                Stratic closes sale of Italian business to Enel 
 
 
CALGARY and LONDON, April 20, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM 'SE.') is pleased to announce that the transaction to sell its Italian 
business to Enel Trade SpA ('Enel'), previously announced on November 5, 2009, 
was completed today, April 20, 2010. 
 
The sale to Enel involves Stratic's entire portfolio of assets in Italy, 
including its interest in the Longanesi gas field and other exploration acreage 
in the country, for a cash consideration of EUR33.0 million paid on completion and 
the assumption of existing obligations relating to the assets. Stratic is 
entitled to receive a further payment of EUR6.6 million provided the commencement 
of first production takes place before the end of 2011, reducing pro-rata by 
month, with no payment due if production commences after the end of 2012. 
 
 
 
TSX-V notification 
 
The TSX Venture Exchange has not reviewed and does not accept responsibility for 
the adequacy or accuracy of the contents of this release. 
 
 
 
For further information contact: 
 
 
Kevin Watts, President and Chief Executive Officer 
     +44 20 7766 7900 
 
John van der Welle, Finance Director 
              +44 20 7766 7900 
 
Patrick d'Ancona, M: Communications 
           +44 20 7920 2347 
 
Canadian Investor Relations 
Roger Fullerton 
                            +1 952 929 7243 
Email: roger.fullerton@straticenergy.com 
 
Website: www.straticenergy.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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