Strat Petroleum Ltd. was established to build on the strong contacts and relationships our management and other team members have in the Russian Federation and other CIS countries in the oil and gas industry.

 

Market

World markets have seen oil prices rise significantly from under $15.00 U.S. per barrel in 1998 to the $40.00 U.S. per barrel range in 2004. Reasons for the dramatic increase are many and varied which will have a significant impact on world economies if it persists.

Increased prices are supported by:

1. rising demand,
2. low inventories,
3. OPEC strategy,
4. violence in the Middle East, and,
5. insufficient U.S. refinery capacity.

Predicting what direction prices will go in the future is anybody’s guess. Opinions sit at both ends of the spectrum, with some believing that $50.00 a barrel is not far off, with possibilities of $80 per barrel depending on terrorist action, while others believe that current prices are an overreaction to current conditions, and while it will not collapse, prices should settle in the $30 range.

 

Site Exploration and Development

The Company will use local expertise and labour where possible due to lower cost and availability. Given the long history of oil and gas exploration and development in Russia, local knowledge and expertise is extensive and can be secured for very competitive costs. However, it will ensure that technology is most current to determine the proven and probable reserves and maximize the output from each well.

The Company will hire a Western geologist and/or geological firm to oversee all exploration and development in at the sites secured.

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