Odewayne, Repubilc of Somaliland

RNS Number : 6947H

Sterling Energy PLC

09 June 2017

 

9 June 2017

ODEWAYNE, REPUBILC OF SOMALILAND

Sterling Energy Plc ("Sterling" or the "Company"), the AIM listed oil and gas exploration and production company (AIM: SEY), is pleased to announce that the Government sponsored 2D seismic campaign on the Odewayne Block has commenced.  The campaign will satisfy the minimum work obligation for the current third period, for which Sterling is fully carried by Genel for all costs.  The Company expects initial results late Q3 2017 and will thereafter undertake its own technical evaluation of the data.

Sterling Energy Plc.'s CEO, Eskil Jersing, said:

"We are very pleased that the 2D seismic campaign has commenced. It will provide the first detailed subsurface view in what is one of the last untested large frontier rift basins in Africa.  We would like to congratulate the Ministry of Energy & Minerals for the successful start to the campaign."

Further information:
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Sterling Energy Plc	Tel: [phone]
Eskil Jersing (CEO) Michael Kroupeev (Chairman)
Peel Hunt LLP	Tel: [phone]
Richard Crichton Ross Allister

 

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MSCUKVARBOANRAR