Sterling Energy PLC
14 March 2008
14 March 2008
STERLING ENERGY PLC
('Sterling' or the 'Company')
USA GAS DISCOVERY & PRODUCTION INCREASE
Sterling Energy (AIM: SEY), an independent oil & gas exploration and production
company with interests in the USA, Africa and the Middle East, is pleased to
announce a gas discovery from its Marlin #1 well, Texas, USA and an increase in
USA production.
The Marlin #1 well has been tested at a rate of 3.4 mmcfgd (net to Sterling) on
a 26/64 inch choke, flowing at 6,100 psi. This Austin Chalk well was drilled to
approximately 15,000 feet. Sterling anticipates first sales in April 2008.
USA production for the first two months of 2008 averaged 28 mmcfged compared
with 25 mmcfged in the fourth quarter of 2007.
Graeme Thomson, CEO of Sterling, commented:
'This is a very pleasing result which will add materially to our near-term USA
production revenues.'
Sterling Energy Plc (+44 20 7405 4133) Web site: www.sterlingenergyplc.com
Graeme Thomson
Harry Wilson
Evolution Securities (+44 20 7071 4300)
Rob Collins
Citigate Dewe Rogerson (+44 20 7638 9571)
Media enquiries: Martin Jackson
Analyst enquiries: Kate Delahunty
In accordance with the guidelines of the AIM Market of the London Stock
Exchange, Harry Wilson, BSc (Hons) Physics (1973), Executive Deputy Chairman of
Sterling Energy Plc, who has been involved in the oil industry for over 33
years, is the qualified person that has reviewed the technical information
contained in this press release.
This information is provided by RNS
The company news service from the London Stock Exchange