QOGT Quorum Oil &Gas

 

TIDMQOGT 
 
RNS Number : 3176H 
Quorum Oil and Gas Tech. Fund Ld 
18 February 2010 
 

  Not for release, publication or distribution in, or into, the United States, 
                          Canada, Australia or Japan. 
 
+------------------------------+------------------------------+ 
| Press Release                |            18 February  2010 | 
+------------------------------+------------------------------+ 
 
 
 
 
                   Quorum Oil and Gas Technology Fund Limited 
 
                     ("Q-OGT", "the Fund" or "the Company") 
 
                                Trading Update 
 
Quorum Oil and Gas Technology Fund Limited (LSE:QOGT), a registered closed-ended 
Guernsey investment company traded on the London Stock Exchange, is pleased to 
provide the following update. 
 
Strata Energy Services Inc. ("Strata") has further advanced its negotiations 
with a major oil company and other contractors in Mexico for significant 
multi-year contracts.  Such contracts, if won, will require capital expenditure 
in order to finance equipment to undertake the work required.  Strata is 
considering a number of options to raise the necessary capital including 
conventional debt, asset financing, further equity investment from new or 
existing investors, and also potentially a capital raise in the form of a 
listing on an international stock exchange. Final audited results to 30 November 
2009 for Strata are expected to be consistent with earlier guidance with revenue 
of C$27 million and EBITDA of C$8.2 million (EBITDA C$10 million post removal of 
foreign exchange adjustments). 
 
Ambercore/Terrapoint ("Ambercore") continues to develop applications for 4DiQ, 
its 3D graphics and search engine and Ambercore is exploring the possibility of 
either licensing or selling this application for use in non oil and gas sectors, 
for example its potential applications in mobile telephony.  This process is 
still at a very early stage and accordingly no assurance can be given that 
Ambercore will be able to realise any potential value from these anticipated 
transactions. 
 
WellPoint Systems Inc. ("WellPoint") has not completed its audit to 31 December 
2009.  However, initial estimates look consistent with the guidance issued by 
WellPoint at the end of 2009 (EBITDA in excess of C$9 million including certain 
exceptional items such as the proceeds of an export insurance claim. It is 
believed that WellPoint would still be EBITDA positive without such exceptional 
items, which represents an improvement from WellPoint's small EBITDA loss in 
2008). 
 
                                    - Ends - 
 
For further information: 
+----------------------------------------+---------------------+ 
| Investment Manager                     |                     | 
+----------------------------------------+---------------------+ 
| Quorum Group                           |                     | 
+----------------------------------------+---------------------+ 
| Wanda Dorosz, Managing Partner & CEO   |     Tel: +1 416 971 | 
|                                        |                6998 | 
+----------------------------------------+---------------------+ 
| wdorosz@quorum.ca                      |                     | 
+----------------------------------------+---------------------+ 
| David Sefton, Quorum European Partners |   Tel: +44 (0) 7989 | 
| LLP                                    |             333 371 | 
+----------------------------------------+---------------------+ 
| david.sefton@quorum-europe.com         |  www.q-ogtfund.com  | 
+----------------------------------------+---------------------+ 
 
Media enquiries: 
+----------------------------------------+-------------------------+ 
| Abchurch                               |                         | 
+----------------------------------------+-------------------------+ 
| Henry Harrison-Topham / George Parker  |         Tel: +44 (0) 20 | 
|                                        |               7398 7719 | 
+----------------------------------------+-------------------------+ 
| george.parker@abchurch-group.com       | www.abchurch-group.com  | 
+----------------------------------------+-------------------------+ 
 
 
Notes to editors: 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry. The Fund is managed by the Quorum Group, a 23 year old strategic 
sector private equity firm, headquartered in North America, which also has a 
subsidiary and office in London, Quorum European Partners LLP.  Q-OGT was 
admitted to the Official List of the UK Listing Authority and to trading on the 
London Stock Exchange on 7 January 2008. Its stock market EPIC is QOGT.L. 
Further information can be found at www.q-ogtfund.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTKKODPFBKDOBD 
 

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