Sterling Energy Company News
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Sterling Energy Chairman Retires
Wednesday, May 11, 2016Sterling Energy plc Executive Chairman Alastair Beardsall will be retiring with immediate effect after 6 years of service for personal reasons.
Sterling Exits Ambilobe Block, Offshore Madagascar
Thursday, April 28, 2016Sterling Energy (UK) Limited issues a notice of withdrawal from the Ambilobe block, offshore Madagascar to its joint venture partner Pura Vida Mauritius.
Sterling Withdraws from Mauritania Block
Friday, January 29, 2016Sterling Energy Mauritania Limited submits a notice of withdrawal to its joint venture partners in relation to Block C-3, offshore Mauritania.
Sterling Energy in Dispute with Cameroon over Ntem Block
Tuesday, December 01, 2015West Africa-focused Sterling Energy is in a dispute with the Republic of Cameroon over the ownership status of the Ntem block.
Sterling Energy Seeks Growth Following EBITDAX Loss
Monday, November 09, 2015Sterling Energy pledges to seek growth and build a "diverse exploration portfolio", following a loss of $2.11 million at the adjusted EBITDAX level in the third quarter of 2015.
Sterling Sees Acquisition Opportunities amid Low Oil Price
Monday, July 27, 2015Africa-focused Sterling Energy intends to take advantage of the low oil price by buying 'quality' exploration assets from distressed players in the oil and gas sector.
Sterling Energy Acquires 13.5% Stake in Block C-10 Offshore Mauritania
Thursday, June 04, 2015Sterling Energy acquires a 13.5 percent stake in Block C-10 offshore Mauritania.
Sterling Energy Completes 3D Seismic Survey over Ambilobe Block
Tuesday, June 02, 2015Sterling Energy announces that it has completed a 3D seismic survey of approximately 420 square miles over the Ambilobe Block, offshore northwest Madagascar.
Sterling Commences 3D Seismic Survey in Ambilobe Block off Madagascar
Tuesday, April 28, 2015Sterling Energy commences 3D seismic survey in the Ambilobe Block offshore Madagascar.
Murphy Completes Transfer of 50% Stake in Cameroon's Ntem Block to Sterling
Friday, April 10, 2015Murphy Corp. completes transfer of its 50 percent interest in Ntem Concession offshore Cameroon to Sterling Energy.
Sterling Says Madagascar Government Approves Extension for 2 Offshore PSCs
Tuesday, February 17, 2015Sterling Energy reports that the Madagascar government has extended the production sharing contracts for the country's offshore Ambilobe and Ampasindava blocks.
Sterling Signs Deal to Gain Complete Control of Cameroon Concession
Tuesday, February 17, 2015Sterling Energy signs a deal that will give it complete ownership of the Ntem Concession, offshore Cameroon.
Sterling Buys Stake in Block C-3 Offshore Mauritania
Tuesday, February 10, 2015Sterling Energy pays $2.5 million to Tullow Oil in order to acquire a 40.5% stake in Block C-3 offshore Mauritania.
Sterling's Bamboo-1 Well Comes up Dry
Friday, April 25, 2014Sterling Energy's Bamboo-1 well, offshore Cameroon, fails to find commercial hydrocarbons.
Drilling Starts on Bamboo Prospect Offshore Cameroon
Monday, February 10, 2014Sterling Energy reports that its partner, Murphy Cameroon Ntem, has begun drilling the Bamboo-1 well offshore Cameroon.
Sterling Energy Completes 2D Seismic Acquisition off Madagascar
Tuesday, January 14, 2014Sterling Energy reports that 2D seismic acquisition has been completed at the Ambilobe and Ampasindava Blocks, off Madagascar.
Sterling Gets Govt Consent for Madagascar Farm-out
Wednesday, December 04, 2013Sterling Energy gets government consent to farm out 50 percent of the Ambilobe Block, offshore Madagascar.
Sterling Completes Additional Seismic Acquisition in Sangaw North
Tuesday, September 04, 2012Sterling completes the acquisition of additional 2D seismic data in the Sangaw North block, which it believes may lead to drilling of an exploration well in 2013.
Sterling Says Hello to New Exploration Director
Monday, October 03, 2011Dr. Philip Frank has been appointed, with immediate effect, Exploration Director and a member of the board of directors of the Company.
Sterling Exploration Director Resigns
Friday, July 29, 2011Sterling announced that Andrew Grosse, Exploration Director, has resigned to pursue other opportunities.
Sterling to Plug, Abandon Sangaw North Well
Wednesday, July 06, 2011Sterling reported that neither flow test produced hydrocarbons at commercial rates and the Sangaw North-1 well will now be plugged and abandoned.
Sterling Disappointed with Sangaw North Results
Monday, June 13, 2011Sterling has completed a flow test at Sangaw North block in Kurdistan (53.33% working interest).
Sterling Reaches TD at Sangaw North Well
Tuesday, May 24, 2011The Sangaw North-1 well has been drilled to a total depth of 4,190 meters.
Sterling to Drill Ahead at Sangaw North Block
Friday, March 25, 2011Sterling plans to drill ahead and evaluate the Jurassic formations to a well depth of 3,660 meters.
Sterling to Sidetrack Sangaw Well
Thursday, January 27, 2011Sterling updated on the preparations for the sidetrack and re-drilling of the Sangaw North block well in Kurdistan.
Sterling Updates Ops at Sangaw North Block
Thursday, January 06, 2011Sterling provided the following update on operations in the Sterling operated Sangaw North block (53.33% working interest) in Kurdistan.
Sterling Drills Ahead at Sangaw North Block
Tuesday, November 23, 2010The Sangaw North-1 exploration well is approaching the depth at which Sterling plans to run casing prior to drilling into the Jurassic reservoir targets.
Sterling Shuffles Management
Tuesday, November 09, 2010Sterling announced changes to its board and management, effective Nov. 9.
Sangaw Results Disappoint Sterling
Monday, September 20, 2010The initial recovery of gas flowing to surface at Sangaw North well is encouraging; however the subsequent water flow from these zones is disappointing.
Rig Resumes Operations in Kurdistan
Tuesday, August 31, 2010The repairs to the Sakson drilling rig have now been completed and the rig has resumed operations.
Operations Halted at Sangaw North Exploration Well
Friday, August 06, 2010Sterling Energy reported that operations at the Sangaw North #1 exploration well have been halted.
Sterling Spotlights Middle East, Africa Ops
Friday, July 23, 2010Sterling announced its results for the six month period ending June 30, 2010.
Sterling Sees Signs of Hydrocarbons at Kurdish Well
Thursday, June 10, 2010Sterling provided an update on its Kurdish activities.
Sterling Spuds Sangaw North-1 in Kurdistan
Tuesday, February 02, 2010Sterling reported that the Sangaw North-1 exploration well in Kurdistan was spud on February 1, 2010.
Sterling Completes Sale of US Business to Korea's Atinum Group
Thursday, December 03, 2009Sterling has completed the sale of its USA business to the Atinum Group from Korea. The business comprised exploration and production projects, primarily in the onshore Gulf Coast and shallow waters of the Gulf of Mexico.
Sterling to Spud Well in Kurdistan, Sell USA Business by December
Monday, November 30, 2009Sterling announced that the drilling rig is now in transit to the Sangaw North PSC in Kurdistan, with drilling slated for the second half of December. Additionally, the sale of the company's USA business is expected to be completed in December.
Sterling Offers Financial, Corporate Update
Monday, March 09, 2009Sterling provides a corporate and financial update to the company's operations.
Oil Majors Set to Gain As Smaller Rivals Struggle
Thursday, October 23, 2008Major international oil companies may emerge from the current financial turmoil and the sharp drop in oil prices strengthened as they cherry-pick reserves from smaller companies that run into trouble.
Sterling Boasts Mauritania Production Increase
Friday, October 17, 2008Sterling reported that the Chinguetti field production in Mauritania has increased to over 17,000 bopd and that field production in the first half averaged 10,000 bopd.
Addax Grabs Interest in Sangaw North License Area in Kurdistan Region
Thursday, October 09, 2008Addax has acquired a 33.33% interest in the Sangaw North Production Sharing Contract. The Sangaw North license area is operated by Sterling Energy plc and is southeast of the Corporation's Taq Taq field.
Sterling Farms-Out Sangaw Interest in Kurdistan Region to Addax
Tuesday, September 30, 2008Sterling has agreed to farm-out a 33.33% interest in the Sangaw North Production Sharing Contract, in the Kurdistan Region of Iraq, to Addax Petroleum Sangaw Limited.
Sterling Makes Additional Listing on AIM
Tuesday, August 05, 2008Sterling Energy plc announced that application has been made for 100,000 ordinary shares of 1p each in the Company to be admitted to trading on the AIM market of the London Stock Exchange.
ICM-1 Well All Wet Offshore Gabon
Friday, August 01, 2008Sterling confirmed that the ICM-1 well in the Iris Marin permit offshore Gabon was drilled to a depth of 1,640 meters. The reservoir was found to be water bearing, and the well is being plugged and abandoned.
Forum's Non-Executive Directors Step Down
Thursday, July 10, 2008Forum received notification from Harry Wilson and Graeme Thomson that they both intend to resign from the Company's Board following the disposal of Sterling's 13.94% shareholding in Forum.
Sterling Spuds Marin-1 Offshore Gabon
Monday, July 07, 2008Sterling has reported that the Iris Charlie Marin-1 (ICM-1) exploration well, in the Iris Marin PSC, offshore Gabon spudded on July 5, 2008. The ICM-1 well will target the Charlie Prospect and will be drilled using Hercules 156.
KRG Nominates Korean Company for Interest in Sangaw North Block
Wednesday, June 25, 2008Sterling and the KRG of Iraq have announced that the KNOC has been nominated to receive the Third Party Interest allocation of 20% in the Sangaw North Block.
Sterling to Acquire Kurdistan Seismic, to Start Drilling in Madagascar
Friday, June 06, 2008Seismic acquisition is planned for Kurdistan by the end of Q3, and drilling is anticipated to commence in 2009. A site survey is presently under way in Madagascar on a very large prospect, and the company plans to drill in 2009.
Sterling Announces Farmout of Interest in Gabon for Cash and Carry
Thursday, June 05, 2008Sterling has conditionally agreed to farmout an 18% interest in the Iris Marin Production Sharing Contract (PSC), offshore Gabon. Following the farmout, Sterling will retain a 32% interest in the PSC.
Sterling Energy Plans Active 2Q08
Friday, May 16, 2008Sterling Energy is planning an agressive 11 well drilling program for the remainder of 2008. Two recent equity issues will provide the financial flexibility to carry out these plans.
Sterling Energy Touts Increase in Revenues
Thursday, May 01, 2008Sterling Energy reported that revenues increased by 20% to $97.2 million in 2007 (2006: $81.0 million), with the contribution from the acquired WEC assets and higher oil and gas prices.