Stratic Closes $150 Million Debt Facilities

Stratic Energy Corporation announces that closing has occurred in respect of its $150 million senior secured debt facilities, following commitments secured and announced earlier this year.

The $150 million new bank debt facilities provided to certain subsidiaries of Stratic comprise: a $110 million senior, secured Borrowing Base facility, a $5 million working capital facility and a $35 million Undeveloped Asset-Backed ("UDAB") facility. The Borrowing Base and UDAB facilities have terms of five and three years, respectively.

The Borrowing Base facility will be used principally to finance Stratic's share of capital expenditure on its portfolio of development assets while the UDAB Facility is available for funding expenditure on approved pre-development assets. The facilities will also be used to retire existing bank debt. The Borrowing Base facility has been provided by The Royal Bank of Scotland plc ("RBS") and Societe Generale Corporate and Investment Banking, as Joint Mandated Lead Arrangers. RBS and Bank of Scotland Corporate are Mandated Lead Arrangers for the UDAB facility. RBS is the Structuring Bank for the facilities, which will be syndicated in due course.