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Stratum sells Petroleum Engineers business

March 13 2008

Stratum Holdings Inc. (OTCBB: STTH.OB) said it sold its energy staffing subsidiary Petroleum Engineers Inc. to Hamilton Engineering Inc. of Houston for $15.0 million. Hamilton also received a three-month option to buy the stock in Stratum's Canadian energy services subsidiary, Decca Consulting Ltd., for $3.25 million.

Stratum announced in October that it sold another subsidiary, Tradestar Construction Services Inc., which provided construction staffing. Stratum's remaining business involves operating oil and gas wells.

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