Pacific Stratus Announces Colombia Discovery

Pacific Stratus Energy Ltd. said that its 80% owned Mauritia Norte 1 well located in the Moriche block in the Llanos Basin of Colombia encountered several multi-zone crude and gas shows.

The well has been drilled to a total measured depth of 10,000 feet. The target Mirador and Ubaque formations were encountered as forecast. The company will be running logs over the weekend and expects to have results to announce within next week.

Pacific Stratus is the operator in this block. By drilling this well, the company has fulfilled the second phase of its contractual commitment with the Colombian Hydrocarbons Agency, the grantor of the Moriche association contract.

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 2,500 barrels of oil per day, with working interests in the Caguan, Dindal, Rio Seco, Puli B, Doima (currently under dispute), La Creciente and Moriche blocks in Colombia. The company has offices in Toronto, Caracas and Bogota.