Sterling Energy Completes 3D Seismic Survey over Ambilobe Block

Junior energy firm Sterling Energy announced Tuesday that it has completed a 3D seismic survey of approximately 420 square miles over the Ambilobe Block, offshore northwest Madagascar.

Finished on time and on budget, according to Sterling, the 3D survey was handled by CGG Services SA on behalf of Ambilobe JV partners Sterling and Pura Vida Mauritius. Processing of the data is expected to begin soon, with the final processed data expected in 1Q 2016.

Sterling Energy Chief Executive Officer Eskil Jersing commented in a company statement:

"We are pleased to have completed our 3D seismic operations, both safely and efficiently on the Ambilobe Block. We look forward to receiving the processed seismic data to build upon our understanding of the sub-surface imaging of the basin which will assist the joint venture partners to determine the exploration activities on the block in 2016."

Sterling and Pura Vida each holds a 50 percent interest in the Ambilobe Block. In December 2013, Sterling completed a farm-out agreement with Pura Vida under which all costs associated with the acquisition of the 3D seismic program were carried by Pura Vida.

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