Stratic Announces Closing of Plan of Arrangement


 

TIDMSE. TIDMENQ 
 
RNS Number : 7299V 
Stratic Energy Corporation 
08 November 2010 
 

 
                                  NEWS RELEASE 
      Stratic Announces Closing of 
 Plan of Arrangement with EnQuest PLC 
CALGARY and LONDON, November 8, 2010 - Stratic Energy Corporation (TSX Venture: 
'SE', AIM: 'SE.') ("Stratic" or the "Company") announces closing of the 
previously announced plan of arrangement (the "Arrangement") with EnQuest PLC 
(LSE: ENQ and NASDAQ OMX Stockholm: ENQ) ("EnQuest") under the Business 
Corporations Act (Yukon), which was completed and became effective after close 
of markets on Friday, November 5 and resulted in EnQuest acquiring all of the 
issued and outstanding Stratic shares in exchange for ordinary shares of EnQuest 
on the basis of 0.089626 of an EnQuest share for each Stratic share. 
Upon the Arrangement becoming effective all of the issued and outstanding 
Stratic shares were transferred to EnQuest and the Company became a wholly-owned 
subsidiary of EnQuest.  All Stratic shareholders immediately prior to the 
effective time of the Arrangement are entitled to receive EnQuest shares in 
exchange for their Stratic shares based on the above exchange ratio. 
Further trading in Stratic shares will be halted on the TSX Venture Exchange 
pending formal delisting, and the admission to trading of Stratic shares on the 
Alternative Investment Market of the London Stock Exchange will be cancelled 
effective November 8, 2010.  The EnQuest shares issued under the Arrangement are 
expected to be admitted to trading on the London Stock Exchange effective 
November 8, 2010 and as a consequence also tradeable on the NASDAQ OMX 
Stockholm. 
The Company's board of directors and management team has been reconstituted with 
nominees of EnQuest. 
Details of the Arrangement and the business of EnQuest are contained in the 
Information Circular and Proxy Statement of Stratic dated September 28, 2010. 
Copies of the Information Circular and Proxy Statement, together with the letter 
of transmittal by which registered shareholders of the Company may surrender the 
certificates representing their Stratic shares in exchange for the EnQuest 
shares issuable under the Arrangement, were posted to shareholders and are also 
available electronically on SEDAR at www.sedar.com and the Company's website at 
www.straticenergy.com. 
Interested parties are also referred to today's announcement by EnQuest 
regarding completion of the Arrangement. 
Bennett Jones LLP acted as legal counsel to Stratic and Blake, Cassels & Graydon 
LLP acted as legal counsel to EnQuest. 
For further information contact: 
Stratic c/o EnQuest PLC                                   Tel: +44 (0)20 7925 
4900 
Amjad Bseisu (Chief Executive Officer) 
 Jonathan Swinney (Chief Financial 
Officer) 
 Michael Waring (Head of Communications & Investor Relations) 
Finsbury                                                            Tel: +44 
(0)20 7251 3801 
Andrew Mitchell 
Conor McClafferty 
Lazard & Co., Limited (NOMAD)                     Tel: +44 (0)20 7187 2000 
David Kotler 
 Nick Fowler 
Website:  www.straticenergy.com and www.enquest.com 
Notes to Editors: 
EnQuest (www.enquest.com) is an independent oil and gas production and 
development company focused on the UK Continental Shelf ("UKCS").  On 6 April 
2010 EnQuest was formed from the demerged UK North Sea assets of Petrofac 
Limited and Lundin Petroleum AB.  The EnQuest shares are listed on the London 
Stock Exchange and on the NASDAQ OMX Stockholm and are included in the FTSE250 
and OMX Nordix index on the respective exchanges.  EnQuest is completely 
unrelated to the company EnQuest Energy Services Corp., which was formerly 
listed on the TSX Venture Exchange. 
Reader Advisories: 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
This news release does not constitute or form part of an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of, securities to 
any person to whom or in any jurisdiction in which such offer, solicitation or 
sale would be unlawful. The securities to be offered have not been and will not 
be registered under the United States Securities Act of 1933, as amended (the 
"U.S. Securities Act"), or any state securities laws, and may not be offered or 
sold in the United States or to or for the account or benefit of a U.S. person 
unless registered under the U.S. Securities Act and applicable state securities 
laws or pursuant to an available exemption from, or in a transaction not subject 
to, the registration requirements thereof. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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