Stratum Energy Group Ltd.

Description

• Business and history of the companyThe Stratum Energy group of companies (Stratum) is in the business of international oil and gas exploration, development and in due course production. The Companys goal is to search for, acquire and develop prospects with low risk exploration and commercially viable develop-mental potential.Stratum Energy was founded in 2005 by Qasim Sharif, a petroleum engineer, with extensive worldwide drilling experience from working in senior management positions for major inter-national oilfield service companies and large market cap E & P companies.Mr. Sharifs efforts were rewarded in mid 2009 when he raised $3.6 mil in equity financing from the private placement of 10% of Stratums stock with an Indian investment company. Earlier, $0.5 mil was invested in the company by 3 private investors.The Companys initial investment was in a farmout from Zeta Petroleum and later Lotus Petrol on the Bartin License in Turkey with Stratum ultimately accumulating 80% of the prospect. Subsequently, Stratum farmed out 30% of the prospect to an Indian investment company in exchange for development expenditures.In the past three years, Stratum has:1drilled the Bartin 2 exploratory well2drilled a sidetrack well using the Bartin 2 well3drilled a sidetrack well using the Bartin 1 wellThe companys second investment was in mid 2008 with a farmout from Toreador Resources Corp. and later Lotus Petrol SRL for 100% of the Moinesti block in Romania. In the fall of 2009, Stratum, utilizing the equity proceeds mentioned above, re-entered, perforated and tested the Poduri 1 well. The well was originally drilled by TPAO in 2002, but never fully tested.The Poduri1 well flowed gas to the surface and has shown that there is significant hydrocarbon potential throughout the Moinesti Block.To fully exploit this potential, Stratum is looking to share the development costs by obtaining a farmout partner.
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  Headquarters:211 Highland Cross Suite 250, Houston, Texas, United States

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  Phone Number: +1 281-209-3690

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  Website: https://www.stratum-energy.com

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  Employees:39

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  Revenue:$10 - 50M

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  Legal Name:Stratum Energy Group Ltd.

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• |  NAICS Code: 624190  |

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