Stratic Energy Corporation says that the Supreme Court of Yukon has granted a final order approving the previously announced plan of arrangement (the "Arrangement") with EnQuest PLC under the Business Corporations Act (Yukon). The Arrangement provides for the acquisition by EnQuest of all of the issued and outstanding Stratic shares in exchange for ordinary shares of EnQuest on the basis of 0.089626 of an EnQuest share for each Stratic share. Today's court order follows the approval of the Arrangement by the Company's shareholders at a special meeting held on November 2, 2010.

Having now received all necessary shareholder, court and other approvals the Arrangement is scheduled to be completed after close of markets on November 5, 2010. Upon completion the Company will become a wholly-owned subsidiary of EnQuest and all Stratic shareholders will be entitled to receive EnQuest shares in exchange for their Stratic shares based on the exchange ratio of 0.089626 of an EnQuest share for each Stratic share. Accordingly, the Company has taken steps to cause the Stratic shares to be delisted from the TSX Venture Exchange and their admission to trading on the Alternative Investment Market ("AIM") of the London Stock Exchange to be cancelled as soon as practicable following completion, which steps are anticipated to result in the Stratic shares ceasing to trade on either such market after the date of completion.

Tags: Stratic Energy Corporation