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

Sterling announces results of testing on East Breagh

Sterling Resources Ltd. announce that it has successfully completed testing of the East Breagh well located in the U.K. Southern North Sea Block 42/13. Sterling holds a 45% interest and is the operator of the block. The well was tested from the upper zone perforations 7490 feet measured depth (md) to 7560 feet md at controlled rates of up to 10.2 million standard cubic feet per day (mmscf/d). The final... 

Sterling Resources Ltd. announces commencement of Cladhan Well in the UK North Sea

Sterling Resources Ltd. report that operations on the Cladhan exploration well on Block 210/29a in the United Kingdom Northern North Sea have commenced, with the arrival of the Transocean 704 semi-submersible rig at the site. The well is targeting an Upper Jurassic prospect and is anticipated to take 35 days to drill. Sterling is the operator and currently holds a 39.9 percent working interest. Stewart... 

Tag: cladhan well, sterling resources stewart gibson

Sterling Resources Ltd. announces successful completion of the Doina-4 appraisal well

Sterling Resources Ltd. report that it has completed the open-hole logging of the Doina-4 well after having reached a target depth of 1,250 metres approximately 17 days after the well was spudded. (Sterling 65-percent working interest after farm out). Initial results have confirmed the northerly extension of the gas bearing Doina Main Sand reservoir, some 1.6 kilometres north of the previously drilled...