Sterling Says Hello to New Exploration Director

Sterling announced the following board and management appointment effective immediately.

Dr. Philip Frank has been appointed, with immediate effect, Exploration Director and a member of the board of directors of the Company. Mr. Andrew Grosse has stepped down from the board of directors, with immediate effect, and will leave the Company following a short period of handover to Philip.

Philip graduated from Liverpool University in 1977 with a Ph.D. in Geology, having completed his B.Sc. in Geology at the same university in 1974. His industry career started with BP where, during his 11 year tenure, he rose to the position of Assistant Chief Geologist for the company.

In 1988, Philip joined Clyde Petroleum where, over the following 6 years, he undertook a number of roles, including General Manager UK Exploration, Chief Geologist, and Exploration Manager for New Ventures.

Between 1996 and 2003, Philip worked for a number of independent exploration and production companies, including Monument Oil & Gas Plc and LASMO Plc in exploration and new ventures managerial roles in the international arena.

In 2003, Philip joined Emerald Energy Plc, initially in a consulting capacity and latterly employed as the company's Exploration Manager. Philip was instrumental in Emerald's exploration successes in Colombia and Syria, prior to the company's acquisition by Sinochem Resources in 2009. During his tenure Emerald discovered 8 commercial fields, working interest oil reserves increased from approximately 6 to 60 million barrels, and working interest oil production from some 700 to over 8,000 barrels per day.

Since 2009, Philip has been providing exploration and new venture consultancy services to a number of companies in the oil and gas industry.

Angus MacAskill, Sterling's Chief Executive commented, "I am very pleased to welcome Philip as our Exploration Director and a member of the board. Philip and I have worked together previously along with our Chairman, Alastair Beardsall, and we look forward to the addition of his strong exploration and new ventures experience alongside his commercial and leadership skills to enhance our ability to deliver value from our existing portfolio and to identify and add new ventures.

I would also like to thank Andrew for his contribution to Sterling over the last 9 years and wish him success in his future ventures."

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