Sterling Resources Announces Results of Doina Well Offshore Romania

Sterling Resources Ltd announces that the Doina well, offshore Romania, reached the planned total depth of 1500 meters and coring and logging, including RFT measurements, have been completed in the two prospective zones.

The well was drilled to appraise the existing Doina discovery within the main sand section and evaluate an additional upper sand interval to the west of the original Doina well.

The main Doina sand, which tested gas in the previous discovery well, was encountered close to prognosis, confirmed the extent of the gas bearing main reservoir and had an overall net pay slightly better than expected. As a result it was not considered necessary to production test this interval in this well.

In the upper Doina interval, sands were present but log results indicated these to be tight for the most part. Indication of gas exists in one of the better quality sands however the upper Doina unit was deemed not of sufficient quality to test. The operator, Paladin, is abandoning the well. The group will integrate the results of this recent well with existing data prior to determining further activities.