Sterling Resources Ltd is an independent Oil and Gas exploration and production company.
- The company was formed in 1997 and holds 21 licenses with over 4 million acres in the UK, Romania and France. The Company is listed on the Toronto Stock Exchange (TSX).
- Sterling is an approved Exploration Operator in both the UK and Romania and is recognized by the UK regulatory authorities (BERR) and the Romanian Regulator (ANRM).
- Sterling has been present through license participation in Romania since 1997 and an operator since 2000.
- In 2007, Sterling proved up the commerciality of the Breagh Gas Field (30 BCM, GIIP P50) in the Southern North Sea (SNS), which is considered the largest gas field to have been discovered in the UK SNS for around 30 yrs and is amongst the largest 10 fields discovered in the UK SNS.
- In Romania, Sterling discovered the Ana Field in 2007, Ana is the 6th largest Gas field (6.2 BCM, GIIP P50) ever to have been discovered in Romania, When combined with the adjacent Doina Field (2.8 BCM, GIIP P50), the two make the 3rd largest gas field in Romania and the largest discovery of gas since 1985.
- Through 2007 to 2008, Sterling drilled over eight (8) offshore wells in the UK and Romania while also acquiring over 4,500 km of offshore seismic data. For an investment of over C$100mm. This was carried out with ZERO harm to our people or the environment in which we operated.
- The development project in Romania, calculated over the life of field, will require around US$ 672mm investment and will generate over $2 billion in revenue. The direct and indirect contribution to the State budget from the project is estimated to be over $1 billion.
- In addition to this investment Sterling expects to drill a number of exploration wells with an investment of around $65mm over the next 5 years. Three wells will be drilled within our Onshore Licence (Craiova) in 2009 and the rest after.
|
