Sterling Energy PLC
09 September 2003
Sterling Energy plc has won new exploration acreage in the High Island area of
the Gulf of Mexico, offshore Texas.
The new lease, High Island A94, is located approximately 75 miles south east of
Houston, Texas, in less than 100 ft of water. It lies immediately south of
Sterling's High Island A68/A83 field.
Sterling Operations and Technical Director Nigel Quinton said: 'This new acreage
is a good example of our strategy of adding value to our producing assets. By
looking for additional potential in and around the High Island A68 field, we
identified a large exploration prospect below and offset from our existing
production. The award of this acreage adds significantly to the potential
reserves accessible through our existing facilities.'
This is one of the few areas of shallow water in the Gulf of Mexico where 3D
seismic has yet to be acquired. The prospect is believed to be analogous to a
gas-productive trend which lies a few miles to the north. The company will seek
additional partners once a drilling location has been identified.
High Island A-94 covers 5,760 acres, and has a five-year initial term. It was
awarded 100% to Sterling in Gulf of Mexico Lease Sale 187, held on August 20,
2003 in New Orleans.
For further information contact:
Harry Wilson, Chief Executive, Sterling Energy plc: 01582 462 121
Nigel Quinton, Operations and Technical Director,
Sterling Energy plc: 01582 462 121
Allan Piper, First City Financial Public Relations: 020 7436 7486
07050 203 304
Rob Collins, Evolution Beeson Gregory: 020 7071 4311
www.sterlingenergyplc.com Stock symbol: SEY
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.