Strat Petroleum Ltd. (Strat) is an oil and gas energy company. The company is engaged in investing in oil and gas properties in the Orenburg Region, West of Ural Mountains. The Company seeks to acquire interests in licenses to explore and develop oil and gas properties in the Russian Federation. Strat is focusing on targeting acquisition of interests in licenses to properties with proven reserves and commercially producing or capped wells, focusing on development and not exploration. Strat seeks to invest in the development of the fields through direct investment or by the establishment of joint ventures. As of December 31, 2011, proven reserves of oil exceed 127 million metric tons, while gas estimates were 821 billion cubic meters. As of December 31, 2011, Orenburg produced between 8.4 and 8.5 million metric tons of oil.