Sterling Announces Agreement Relating to Offshore Romanian Assets

Sterling Resources Ltd. announce that it has signed a Heads of Agreement with Melrose Resources plc relating to the Pelican XIII and Midia XV Blocks located in the Black Sea, offshore Romania. In exchange for a cash consideration and a carry on future investment, Melrose will acquire a 32.5% working interest in the Pelican XIII and Midia XV Blocks. Melrose will make a cash contribution of US $24-million... 

Tag: rbc capital melrose, sterling black sea