Grant of Options

Sterling Energy PLC
31 January 2005

                                        
                      Sterling Energy PLC ('the Company')
                                        
                                        
                               Grant of Options

                                                                                
On 28 January 2005 the Board of the Company granted options over ordinary shares
of 1p each ('Ordinary Shares') to the following directors of the Company, at an
option price of 17p per Ordinary Share:

 
Director                                Number of                No. of Ordinary
                                  Options Granted                    Shares over
                                                                   which options
                                                                  held following
                                                                            this
                                                                    notification  
                                                                                
                                                                         
Richard O'Toole                         500,000                       6,750,000  
                                                                                
Harry Wilson                          1,750,000                       9,650,000  
                                                                                
Graeme Thompson                       1,250,000                       7,950,000 
                                                                                
Paul Griggs                           2,000,000                       2,000,000  
                                                                                
Andy Grosse                             500,000                       3,500,000  
                                                                                
Elizabeth Butler                        500,000                       2,000,000     
                                                                               
Peter Wilde                             500,000                       2,000,000  
                                                                                
Alan Levison                            500,000                         500,000  
                                                                                

 

No consideration was paid for the grant of these options.

 

The period during which these most recently granted options are exercisable is
31 January 2007 to 31 January 2015.

 

31 January 2005




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