Sterling Energy PLC
14 February 2008
Sterling Energy Plc ('Sterling' or the 'Company')
LTIP Allotment
Following the announcement on 4 February 2008 of changes in the senior management
team and in accordance with the approved Long Term Incentive Plan ('LTIP'), on 12
February 2008 the Company agreed to grant nominal cost options to the Directors set
out below to acquire ordinary shares ('Shares') (the 'A' Options) and at the same
time, will grant nominal cost options to acquire Shares to the trustees of the
Sterling Energy Plc Employee Benefit Trust (the 'EBT') (the 'B' Options). The
trustees of the EBT have indicated their agreement to make awards to the directors
of reversionary interests, which will initially be represented by the B Options.
Subject to the trustees exercising their discretion the combined awards under the
A and B Options will be as follows:
+------------------+------------------------+-----------------------------------------------+
|Director |Face value of the award |Maximum number of shares awarded under the LTIP|
+------------------+------------------------+-----------------------------------------------+
| | | |
+------------------+------------------------+-----------------------------------------------+
|Jonathon Cooper | £400,000| 4,200,000|
+------------------+------------------------+-----------------------------------------------+
|Andrew Grosse | £75,000| 800,000|
+------------------+------------------------+-----------------------------------------------+
|Graeme Thomson | £94,000| 1,000,000|
+------------------+------------------------+-----------------------------------------------+
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