Sterling Resources prepares for drilling in South Cladhan
Tuesday, Feb 21, 2012CALGARY, Feb. 21, 2012 /CNW/ - Sterling Resources Ltd. (TSXV: SLG) ("Sterling" or the "Company") is pleased to announce that it has contracted the Transocean Sedco 704 semi-submersible drilling rig to drill an exploration well in the South Cladhan area in UK North Sea Block 210/29c. The rig is due on location in March with the timing dependant on its current work program for Premier Oil.
This will be the first well to be drilled in a channel system in this block
which is due south of Sterling's main Cladhan field in Blocks 210/29a and
The partnership in South Cladhan (Block 210/29c) is composed of Sterling, which as operator holds a 25 percent interest, Valiant Exploration Ltd. with a 30 percent interest, Wintershall UK North Sea Ltd. with a 25 percent interest and Agora Oil and Gas UK Ltd. with a 20 percent interest.
Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, Romania, France and the Netherlands. The shares are listed and posted for trading on the TSX Venture Exchange under the symbol "SLG".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sterling Resources Ltd.
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