Sterling Energy PLC Odewayne, Republic of Somaliland (6613P)
September 04 2017 - 2:00AM
UK Regulatory
TIDMSEY
RNS Number : 6613P
Sterling Energy PLC
04 September 2017
4 September 2017
ODEWAYNE, REPUBLIC 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
program of 1,000kms full fold data on the Odewayne Block was
completed on the 24(th) August 2017. This part of the campaign
satisfies and exceeds the minimum (500km) work obligation for the
current third period, for which Sterling is fully carried by Genel
for all costs. The Company expects initial processing results in Q4
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 this phase of the seismic campaign has
completed on time and safely without incident. The initial brute
stack 2D data is encouraging and provides the first detailed
subsurface view in one of the last untested large frontier rift
basins in Africa. We would like to congratulate the Ministry of
Energy & Minerals for the successful completion of the
acquisition of the first 1,000kms over the Odewayne block."
Further information:
This announcement is inside information for the
purposes of Article 7 of Regulation 596/2014.
Sterling Energy Plc Tel: +44 20 7405 4133
Eskil Jersing (CEO)
Michael Kroupeev (Chairman)
Peel Hunt LLP Tel: +44 20 7418 8900
Richard Crichton
Ross Allister
This information is provided by RNS
The company news service from the London Stock Exchange
END
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