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Strata Exploration, Inc. And Partners to Sell Operated Oil and Gas Properties in Lockport Field, Haskell County, Kansas

Posted on: Tuesday, 21 February 2006, 09:00 CST

DALLAS, Feb. 21 /PRNewswire/ -- Strata Exploration, Inc. ("Strata" or the "Company"), an independent oil and gas company headquartered in Fairfield, Illinois, and its working interest partners have exclusively engaged Energy Spectrum Advisors Inc. ("ESA") to divest certain operated oil and gas interests in the Lockport Field in Haskell County, Kansas (the "Properties").

Netherland, Sewell & Associates, Inc. ("NSAI") has prepared a reserves evaluation of the Properties. NSAI estimates that on the Properties there are net remaining Proved, Probable, and Possible reserves ("3P") of approximately 990,000 barrels of oil and 5.6 billion cubic feet of natural gas, for a total of 11.58 billion cubic feet of natural gas equivalent. NSAI has identified six Proved, five Probable, and eight Possible drilling locations, plus 30 additional 3P behind pipe recompletion opportunities. All are ready for immediate development.

Current net daily production from 14 producing wells is approximately 180 barrels of oil and 1.5 million cubic feet of natural gas, for a total of 2.58 million cubic feet of natural gas equivalent. Production comes from four Proved multi-stacked pay intervals that include the Atoka, Morrow, St. Louis A, and St. Louis B formations. The Company has comprehensive 3-D seismic data covering twelve square miles. These focused assets afford operational control of the active producing wells, earned acreage, and access to 7,680 gross acres that are currently subject to certain farm-out agreements and development schedules.

ESA is currently distributing information describing the Properties and will host a data room in Dallas beginning March 6.

Interested parties should contact Ben Davis (214-987-6122) or Chandler Phillips (214-987-6116) at ESA for more information. Please do not contact the Company directly. Additional information about this sale can be found at http://www.energyspectrum.com/ .

Headquartered in Dallas, Texas, ESA provides investment banking and financial advisory services to the oil and gas industry.

Energy Spectrum Advisors Inc.

CONTACT: Ben Davis, +1-214-987-6122, or Chandler Phillips,+1-214-987-6116, both of Energy Spectrum Advisors Inc.

Web site: http://www.energyspectrum.com/

Source: PRNewswire

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