Pacific Stratus Energy Ldt. Öl & Gasunternehmen aus Kanada (WKN: A0J2RZ) - 500 Beiträge pro Seite

[Dantyren]

http://www.pacificstratus.com/

[Dantyren]

Pacific Stratus Announces Second Test Results at La Creciente 3 Well

TORONTO, Nov. 6 /CNW/ - Pacific Stratus Energy Ltd. (TSX: PSE) announced
today that it has completed the second production test at the La Creciente 3
well (LCA-3), which indicates a production potential of 32.7 million cubic
feet per day (mmcfd) with a 32/64 inch choke.
LCA-3, located at Prospect A of the La Creciente Block in the Lower
Magdalena Basin of Colombia was drilled to a final Measured Depth of 12,950
feet or 10,977 True Vertical Depth at Sub-Sea level. Test results of the DST-2
indicate a production potential slightly higher than that measured at the
LCA-1 well, which measured 29.1 mmcfd with the same choke.

The second Drill Stem Test (DST-2) comprises the following intervals:

<<
DST-2
11948 - 11958 feet (10 ft)
11962 - 11986 feet (24 ft)
12010 - 12025 feet (15 ft)
12046 - 12052 feet (6 ft)
12057 - 12060 feet (3 ft)
12064 - 12068 feet (4 ft)
12074 - 12090 feet (16 ft)

The DST-2 test results, as well as those for the DST-1 at LCA-3 and the
open hole testing at LCA-1, are as follows:

-------------------------------------------------------------------------
LCA-3 vs. LCA-1 SURFACE RESULTS COMPARISON
-------------------------------------------------------------------------
DST 2 LA CRECIENTE A-3 DST 1 LA CRECIENTE A-3 LA CRECIENTE A-1
-------------------------------------------------------------------------
Intervals: Intervals: Open hole:
11965 - 12107 feet 12152 - 12186 feet 10915 - 11510 feet
-------------------------------------------------------------------------
CHOKE Gas Rate WHFP CHOKE Gas Rate WHFP CHOKE Gas Rate WHFP
-------------------------------------------------------------------------
/64" kpcd psig /64" kpcd psig /64" kpcd psig
-------------------------------------------------------------------------
16 8,902 5,343 8 2,392 5,432 12 6,221 5,465
-------------------------------------------------------------------------
20 14,390 5,281 12 5,373 5,412 18 11,259 5,385
-------------------------------------------------------------------------
24 20,240 5,117 16 9,972 5,321 24 17,578 5,091
-------------------------------------------------------------------------
32 32,720 4,534 20 14,400 5,130 32 29,100 4,451
-------------------------------------------------------------------------
32(*) 25,400 4,453
-------------------------------------------------------------------------
-------------------------------------------------------------------------
WHFP = Well Head Flowing Pressure
kcfd = thousand cubic feet per day
psig = pounds per square inch gauge
(*) Note: Wellhead Flowing Pressure and Gas Rate at choke 32/64" for
DST 1 in LCA-3 was estimated by extrapolation of 2nd order
polynomial function based on real data.
>>

Actual production may differ from initial test results.

The company also announced that drilling at LCD-1 has reached 860 feet
and the company is presently preparing to run and cement the surface casing.
Total final depth of this well is planned at 11,143 feet and the top of
Cienaga de Oro is expected at 10,583 feet.

Pacific Stratus Energy is a Canadian-based oil and gas company that
initiated operations in 2004. The company is focused on identifying attractive
opportunities primarily within the upstream Sub Andean basins. Pacific Stratus
has a current net production of 1,900 barrels of oil per day, with working
interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche,
Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru. The
company has offices in Toronto, Caracas and Bogota. Further information is
available on our website at www.pacificstratus.com.

This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward looking statements
are detailed from time to time in the company's periodic reports filed with
the British Columbia Securities Commission and other regulatory authorities.
The company has no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

%SEDAR: 00008913E



For further information: Jose Francisco Arata, Chief Executive Officer,
[phone], [e-mail]

[Dantyren]

Pacific Stratus Energy halted at 6:07 a.m. PT

2007-11-12 09:13 ET - Halt Trading

Pacific Stratus Energy Ltd. has been halted at 6:07 a.m. Pacific Time on Nov. 12, 2007, pending news.

[Dantyren]

Petro Rubiales, Pacific Stratus to merge

2007-11-12 16:06 ET - News Release

See News Release (C-PEG) Petro Rubiales Energy Corp

Mr. Ronald Pantin of Petro Rubiales reports

PETRO RUBIALES AND PACIFIC STRATUS AGREE TO MERGER TO CREATE PACIFIC RUBIALES ENERGY CORP.

Petro Rubiales Energy Corp. and Pacific Stratus Energy Ltd. have entered into an agreement by which Petro Rubiales will combine on a market-to-market basis with Pacific Stratus through a court-approved plan of arrangement. Pursuant to the combination, Pacific Stratus will become a wholly owned subsidiary of Petro Rubiales and the combined entity will be renamed Pacific Rubiales Energy Corp.

The combined entity is expected to have a fully diluted market capitalization of approximately $2.5-billion and will result in the formation of a world-class diversified oil and gas producer, with an inventory of exploration upside opportunities. Shareholders in Pacific Rubiales will own a unique company with:

* Significant oil and gas production (2008 estimated combined production in excess of 30,000 barrels of oil equivalent per day (boepd));
* Continued significant natural gas exploration upside from Pacific Stratus's 100-per-cent-owned Colombian blocks (the La Creciente block has seven prospects, with the initial prospect A containing proved plus probable reserves of 600 million cubic feet of gas);
* Oil exploration opportunities on the Arauca, Quifa and new Peruvian blocks;
* Complementary management skill sets with an enhanced technical expertise in both production and exploration, in both oil and gas;
* The largest independent oil and gas exploration and production base in Colombia;
* Positioning amongst the largest international oil and gas exploration companies on the Toronto Stock Exchange;
* Significant upside given the below market metrics as compared with the company's TSX peer group;
* A balanced and diversified asset base;
* A strengthened cash position of $220-million and a balance sheet to support future acquisitions in South America, positioning it as a significant and opportunistic oil and gas consolidator.

Pacific Stratus shareholders will receive 8.85 common shares of Petro Rubiales for each share in Pacific Stratus. The holders of common share purchase warrants and options of Pacific Stratus will receive common share purchase warrants and options of Petro Rubiales, in amounts and at exercise prices to be based on the common share exchange ratio. The exchange ratio represents a market-to-market transaction based on the agreed 10-day, 15-day and 20-day volume weighted average price of the two companies.

The transaction will require approval by 66-2/3 per cent of Pacific Stratus shareholders voting and present at a special meeting of Pacific Stratus shareholders to be held in Toronto in early 2008 (exact date to be announced at a later date). Petro Rubiales's shares shall remain the same and no action is required by its shareholders. Completion of the transaction is subject to the satisfaction of certain conditions by both parties, including the completion of due diligence investigations. It is also subject to the execution of a definitive agreement and the approval of both the Toronto Stock Exchange and TSX Venture Exchange. It is anticipated that the transaction will be concluded in the first quarter of 2008. The agreement may be terminated if certain conditions are not met, but if a party terminates the agreement or fails to consummate the transaction or enters into an agreement with a third party, such party shall pay to the other a termination fee.

Upon completion of the transaction, the board of directors of the combined entity is expected to be Serafino Iacono (co-chairman), Miguel de la Campa (co-chairman), Ronald Pantin, Jose Francisco Arata, German Efromovich and Gordon Keep. In addition, a four-person advisory board consisting of Augusto Lopez, Miguel Rodriguez, Jose Efromovich and John Zaozirny will also be appointed, with the expectation that the board of directors of Pacific Rubiales will be increased to 10 at its next annual meeting, at which time these four individuals will be added to the board of directors.

The boards of directors of both Petro Rubiales and Pacific Stratus have unanimously approved the transaction. The recommendation of Petro Rubiales's board of directors is supported by a fairness opinion from its financial adviser, Endeavour Financial International Corporation, and that of Pacific Stratus's board of directors is supported by a fairness opinion from its financial adviser, GMP Securities LP. As well, Orion Securities Inc. provided an additional fairness opinion to the board of Pacific Stratus.

Ronald Pantin, president and chief executive officer of Petro Rubiales, said: "This transaction is a merger of complementary companies that helps create one of the largest oil and gas production and development companies in Colombia. It provides an immediate increase in production to our shareholders and creates a diversified company with an exciting exploration portfolio."

Jose Francisco Arata, chief executive officer of Pacific Stratus, stated: "This transaction is very compelling in that it combines Pacific Stratus's very strong exploration team with an extremely competent production team from Petro Rubiales. Both companies hold a significant oil and gas exploration portfolio and the merger will allow them to leverage their strong operational and exploration expertise at their respective properties. The combined entity is well placed to become a significant factor in the Colombian and South American energy market."

Petro Rubiales and Pacific Stratus have an existing letter agreement whereby Pacific Stratus has the right to earn 50 per cent of Petro Rubiales's interest in the Quifa association contract, while Petro Rubiales has the right to earn a 50-per-cent interest in Pacific Stratus's interest in the Arauca technical evaluation agreement, both in Colombia.

Endeavour Financial International acted as exclusive financial adviser to Petro Rubiales and GMP Securities is acting as exclusive financial adviser to Pacific Stratus.

Petro Rubiales and Pacific Stratus will host a special joint webcast and teleconference call on Tuesday, Nov. 13, 2007, at 8:30 a.m. (Eastern Time) to discuss the transaction. To access the call, dial: Toronto and international -- 416-644-3433; or North America -- 800-732-0232.

[Dantyren]

TORONTO, Nov. 13 /CNW/ - Trading resumes in:

Issuer Name: Pacific Stratus Energy Ltd.
TSX Ticker Symbol: PSE
Resumption Time: Market Open Nov 13, 2007

[Dantyren]

Antwort auf Beitrag Nr.: 32.409.839 von Dantyren am 13.11.07 16:34:35

[Dantyren]

Pacific Stratus earns $1.64-million (U.S.) in Q3 2007

2007-11-15 10:34 ET - News Release

Mr. Nelson Lee reports

PACIFIC STRATUS ANNOUNCES 2007 THIRD QUARTER RESULTS

Pacific Stratus Energy Ltd. is releasing results for the three- and nine-month periods ended Sept. 30, 2007. For the quarter, Pacific Stratus reported net income of $1.6-million (U.S.) or three U.S. cents per share as compared with a loss of $2.5-million (U.S.) or eight U.S. cents per share in the third quarter of last year. For the nine months ended Sept. 30, 2007, the company reported a loss of $21.0-million (U.S.) or 50 U.S. cents per share as compared with a loss of $4.5-million (U.S.) or 16 U.S. cents per share in the same period last year. Oil production in the quarter averaged 1,950 barrels per day, and the average price received for sales in the quarter amounted to $71.50 (U.S.) per barrel for a total revenue of $10.9-million (U.S.).

Net income in the quarter is primarily due to increased revenues attributable to higher price achieved on sales. The company changed its reporting currency to United States dollars effective Jan. 1, 2007, to improve investor's ability to evaluate the company's results with comparable companies in the industry.

The company recently announced that it has entered into an agreement by which, subject to shareholder approval, Petro Rubiales Energy Corp. will combine on a market-to-market basis with Pacific Stratus through a court-approved plan of arrangement, with the combined entity to be renamed Pacific Rubiales Energy Corp.

Pacific Stratus shareholders will receive 8.85 common shares of Petro Rubiales for each share in Pacific Stratus. The exchange ratio represents a market-to-market transaction based on the agreed 10-, 15- and 20-day volume weighted average price of the two companies.

During the quarter the company completed the auction to sell 34,807 million British thermal units per day of natural gas that will be produced at the La Creciente field from the extended well tests at prospect A. The price for the total amount of gas negotiated through the auction averaged $3.72 (U.S.) per thousand British thermal units.

At the La Creciente block, the drilling of the third exploratory well was completed reaching a final depth of 12,950 feet. The well was tested through two drill stem tests which indicated a production potential of 32.7 million cubic feet per day with a 32/64th-inch choke, slightly higher that that measured at the LCA-1 well, which measured 29.1 million cubic feet per day with the same choke.

In this quarter the company started the seismic acquisition programs at the Guama block in the lower Magdalena basin and at the Moriche block in the Llanos basin of Colombia. As well, at the Arauca technical evaluation area, 2,000 kilometres of existing seismic have been sent to be reprocessed.

Finally, the LCD-1 well was spudded, located at La Creciente on prospect D. The company is planning to reach the top of the Cienaga de Oro reservoir at 10,583 feet toward mid-December, 2007.

Complete financial statements are available on the company's website or on SEDAR.

[Dantyren]

Petro Rubiales, Pacific Stratus enter merger agreement


2007-12-13 16:58 ET - News Release

See News Release (C-PEG) Petro Rubiales Energy Corp


Mr. Ronald Pantin of Petro Rubiales reports

PETRO RUBIALES AND PACIFIC STRATUS MERGER UPDATE

Petro Rubiales Energy Corp. and Pacific Stratus Energy Ltd. have completed their respective due diligence investigations, and, in conjunction with positive recommendations from their financial advisers, have entered into a definitive arrangement agreement on the terms described in the companies' joint news release reported in Stockwatch on Nov. 12, 2007. The parties have also applied for and obtained an interim order of the Supreme Court of British Columbia, which, among other things, authorizes and directs that a meeting of securityholders of Pacific Status be convened to consider and, if thought fit, approve the arrangement.

Under the proposed arrangement, Pacific Stratus will complete an amalgamation with a newly formed, wholly owned subsidiary of Petro Rubiales, under which Pacific Stratus shareholders will receive 8.85 shares of Petro Rubiales for every share of Pacific Stratus previously held. Warrant and optionholders of Pacific Stratus will receive warrants and options of Petro Rubiales on a basis that is proportionate to the share exchange ratio. Petro Rubiales shares and warrants will remain unchanged. A meeting of Pacific Stratus securityholders has been convened for 10 a.m., in Toronto, on Jan. 17, 2008. An information circular describing the arrangement will be mailed to its securityholders by Pacific Stratus and will be posted on SEDAR.

Approval of the arrangement requires the concurrence of 66-2/3 per cent of Pacific Stratus shares voted at the meeting, and the further concurrence of 66-2/3 per cent of Pacific Stratus shares, warrants and options, in the total voted at the meeting. The arrangement also requires a final order of the Supreme Court of British Columbia, which will be applied for, immediately following the meeting, provided that the requisite securityholder and stock exchange approvals have been obtained.

Endeavour Financial International Corp. is acting as the exclusive financial adviser to Petro Rubiales, and GMP Securities LP is acting as financial adviser to Pacific Stratus. The financial advisers have each determined that the proposed arrangement is fair from a financial point of view to the shareholders of the parties which they represent. Pacific Stratus also received an opinion from Macquarie Capital Markets Canada Ltd., that the proposed arrangement is fair from a financial point of view to the shareholders of Pacific

[Dantyren]

Pacific Stratus's La Creciente D-1 reaches total depth


2008-01-02 20:10 ET - News Release

Mr. Jose Arata reports

PACIFIC STRATUS PROVIDES OPERATIONAL UPDATE

Pacific Stratus Energy Ltd.'s La Creciente D-1 (LCD-1) well has reached the total depth of 11,450 feet measured depth (or 10,711 feet true vertical depth at subsea level). The petrophysical evaluation indicates a water gas contact at a measured depth of 10,869 feet (10,131 true vertical depth at subsea level), 32 feet below the top of the reservoir. As result of this evaluation, 28 feet of net reservoir sandstones have been identified, with a net-to-gross ratio of 86 per cent, an average porosity of 18.1 per cent and an average water saturation of 38.8 per cent. The formation pressure recorded at the top of the reservoir was 6,492 pounds per square inches, which is 150 pounds per square inch lower than the pressure registered at the same depth on prospect A. The gas-bearing area attributable to this new discovery measures 430 acres.

The Cienaga de Oro formation consists of 483 feet of well-sorted coarse- to fine-grain sandstones (upper unit), and an interbedded sequence of silts, shales and fine-grain sandstones. The Cienaga de Oro was logged using resistivity, gamma ray and density logging while drilling (LWD) tools. The company is now finishing wire-line logging and preparing to run and cement the production liner in order to commence formation testing shortly thereafter.

The company also announced that the production facilities at the La Creciente field have been officially certified by the Ministry of Energy. On Dec. 28, 2007, the company began delivering 35 million cubic feet of gas per day to the Guepaje-Sincelejo main pipeline.

Pacific Stratus has been advised by the Agencia Nacional de Hidrocarburos (ANH) that it has secured the Tacacho technical evaluation agreement. The Tacacho block measures approximately 598,959 hectares and is located in the foreland basin of the Putumayo mountain range, in the Eastern Cordillera of Colombia. The area lies along a prominent structural high that trends north-northwest from Ecuador and continues through the Tacacho block.

The main exploration targets in Tacacho are the tertiary Pepino formation and the cretaceous sandstones of the Villeta formation, prolific producers in the Ecuadorean portion of the basin. Oil generation in the Putumayo and nearby Napo basins is renowned and proved, as well as the charge of the petroleum system and trapping against structural highs in combined stratigraphic-structural traps.

A final agreement will be signed within the next 30 days. Work commitments comprise a minimum investment of $3.0-million (U.S.) to reprocess 640 kilometres of two-dimensional seismic, 4,400 kilometres of aeromagnetogravimetric survey and the acquisition of 100 kilometres of new 2-D seismic.