OperationsStratic has a portfolio consisting of oil and gas production with further development opportunities and is in the process of rebuilding an exploration programme capable of generating reserve growth in low cost areas. The North Sea Stratic’s key asset in the North Sea is the producing West Don oil field, currently generating ~1,800 bopd net to Stratic. Further development activity is expected at Crawford, where partners are expected to submit the Field Development Plan for government approval by mid year 2010, with discoveries at Cairngorm and Bowmore in the UK sector and Horizon West in the Dutch sector awaiting further appraisal. Proved and Probable reserves are booked on the West Don and Crawford fields. Other areas Stratic has an interest in producing gas fields offshore Turkey, as well as exploration acreage in Slovenia and Morocco. Stratic is looking to build on it’s asset position in the Middle East / North Africa region, targeting onshore plays providing an appropriate cost/risk/reward balance. Stratic has continued to grow a strong portfolio of near term appraisal and development opportunities. The Company’s business is grouped into two key geographical areas:
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