Stratic Energy Corporation says that, at a special meeting held today, the Company's shareholders approved the previously announced plan of arrangement (the "Arrangement") with EnQuest PLC under the Business Corporations Act (Yukon) pursuant to which EnQuest proposes to acquire all of the issued and outstanding Stratic shares on the basis of 0.089626 of an EnQuest share for each Stratic share. Of the total number of votes cast at the Meeting, 99.8% were voted in favour of the special resolution approving the Arrangement.

The Company intends to apply to the Supreme Court of Yukon for a final order approving the Arrangement at a hearing scheduled for November 4, 2010. If the final order is granted and all other conditions precedent are satisfied or waived at such time, the Company expects that the Arrangement will be completed and become binding upon all shareholders on or about November 5, 2010. If the Arrangement becomes effective 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.

Tags: Stratic Energy Corporation