Sterling Resources Says Cetatuia Well Progressing

Sterling Resources reports that the Cetatuia well, onshore Romania, after side tracking has reached a depth of 2,350 meters and is currently just above the expected Middle Triassic, one of the targets of the well. Drilling has proceeded more slowly than normal to guard against the hole problems that were encountered earlier.

The well is being drilled to test two targets, the other one being the shallower Miocene formation (Sarmation).

The Sarmation was encountered at 1,328 meters, came in 54 meters high to prognosis and had a thickness of 228 meters. Gas shows were encountered throughout the section with readings up to C5. The results confirm the presence of both reservoir quality sands and demonstrate the presence of a working petroleum system within this part of the Craiova Block. These are positive factors in terms of future exploration as they were unknown risks prior to drilling in this area of the Concession. Also, data obtained from drilling has just been interpreted and integrated into the geological model by Sterling's consultants, and has confirmed the presence of two potential closures within the Sarmation, both which could be accessed from the current drilling site. One of these has an AVO anomaly, and additional work is being carried out on both of these prospects.

Plans are to drill into the upper part of the Middle Triassic and make a geological assessment. If the decision is to drill the entire section, a 7 inch liner may first be run to the top of the formation.