Mauritania Drilling Update
Sterling Energy PLC
24 January 2007
STERLING ENERGY PLC
('Sterling' or the 'Company')
OFFSHORE MAURITANIA DRILLING UPDATE
CHINGUETTI-18 DEVELOPMENT WELL
Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration
and production company, note the announcement made earlier today by Roc Oil
Company Limited ('ROC') on the Chinguetti-18 development well, reproduced below.
The ROC Oil announcement:
Further to its Stock Exchange Release on 9 January 2006 regarding the
Woodside-operated Chinguetti-18 development well in PSC B, ROC advises that as
of 14 January 2007, the well has been drilled to a Total Depth of approximately
2,883 metres measured depth, and is scheduled for completion in mid-February.
Well results are in line with expectations, with an approximate 213 metre gross
oil column (35 metres net) in true vertical depth (TVD) terms, in good quality
reservoir sands which appear well placed to access pressure support from the
Chinguetti-8 (sidetrack 1) water injection well.
Chinguetti-18 is located within the southern part of the Chinguetti Oil and Gas
Field in a water depth of 819 metres, approximately 80 km southwest of the
Mauritanian capital, Nouakchott.
Sterling has an economic interest in Chinguetti through Societe Mauritanienne
des Hydrocarbures and an additional royalty interest through Premier Oil.
For further information contact:
Sterling Energy plc (+44 1582 462 121)
Harry Wilson, Chief Executive
Graeme Thomson, Finance Director
Citigate Dewe Rogerson (+44 207 628 9571)
Media enquiries: Martin Jackson / George Cazenove
Analyst enquiries: Nina Soon
www.sterlingenergyplc.com Ticker Symbol: SEY
This information is provided by RNS
The company news service from the London Stock Exchange