Pacific Stratus Completes Public Offering

On April 19, 2007, Pacific Stratus Energy Ltd., a Toronto-based oil and natural gas exploration and development company with operations and interests in Colombia, completed a common share financing raising $143,750,000 by way of a public offering in Canada and a private placement in the United States. The offering was underwritten by a syndicate of underwriters led by GMP Securities L.P., and including Cormark Securities Inc., Westwind Partners Inc., Orion Securities Inc., Wellington West Capital Markets Inc. and Fraser Mackenzie Limited.

Pacific Stratus was represented in Canada by its in-house legal team of Peter Volk, general counsel, and Lulu Tao, associate general counsel, and by the Toronto office of Macleod Dixon LLP. The Macleod Dixon team was led by Richard Lachcik and included Robert Eberschlag and Marina Mandal (securities). The underwriters were represented by Scott Cochlan and Clayton Bangsund (securities) of the Calgary office of Blake, Cassels & Graydon LLP. Dorsey & Whitney LLP provided advice to Pacific Stratus on US securities law with a team that included Gil Cornblum and Shona Smith.