Sterling License Still Suspeded Over Border Dispute

Sterling reported that the financial obligations and work program for the Ntem concession area (100% WI) are currently suspended owing to a dispute between Cameroon and Equatorial Guinea over their maritime borders. Both countries are working together to resolve the dispute.

Sterling had planned to farm-out this license for drilling and it continues to attract a good level of industry interest. However the award in late 2004 by Equatorial Guinea of a license to the South of Ntem overlapping up to 15% of the license has delayed this drilling plan until the situation is resolved. Sterling remains committed to assisting in the resolution of the dispute in the interests of all parties.

A number of discoveries have been made in the region recently and this has only served to enhance its prospectivity.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Analyst I (Road) - Direct Hire
Expertise: Logistics Management
Location: Houston, TX
Logistics Analyst II (Road) - Direct Hire
Expertise: Logistics Management
Location: Houston, TX
Safety Specialist located in Madison, MS
Expertise: Regulatory Compliance
Location: Madison, MS
search for more jobs

Brent Crude Oil : $53.61/BBL 2.09%
Light Crude Oil : $50.33/BBL 1.98%
Natural Gas : $3.26/MMBtu 2.51%
Updated in last 24 hours