Business
Annual results for the year ended 31 December 2018
Annual results for the year ended 31 December 2018.
About this update from Afentra Plc
[{"type":"text","content":"\n \nRNS Number : 7880T Sterling Energy PLC 25 March 2019 \n\n \n \n \n \n25 March 2019\n \nSTERLING ENERGY PLC\nANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018\nSterling Energy plc is today issuing its preliminary results for the year ended 31 December 2018.\nOVERVIEW\nSterling Energy plc ('Sterling' or the 'Company'), together with its subsidiary undertakings (the 'Group'), is an upstream oil and gas company listed on the AIM market of the London Stock Exchange. The Company is an experienced operator of international exploration and production licences, with a primary geographic focus on emerging markets including, Africa and the Middle East, although the Board would consider other regions for material opportunities. The Group has a high potential exploration asset in Somaliland and an active strategy to deliver shareholder value through disciplined, exploration and production projects; leveraging the Company's experience, with an emphasis on securing near term cash flow generative opportunities.\n2018 SUMMARY\nOperations \n· Throughout 2018: Odewayne block, Somaliland - Sterling continued to support the Operator in progressing the technical understanding of the block.\n· January 2018: Chinguetti, Mauritania - cessation of production ('CoP') and negotiated termination of the Funding Agreement ('Deed of Termination').\nCorporate \n· Continued merger and acquisition ('M&A') mandate for transformational growth (asset and corporate options).\n· June 2018: Board and Management appointment of David Marshall as CEO. \n· October 2018: Appointment of GMP FirstEnergy as ...