Sterling Partners with Grove Energy on Craiova Concession in Romania

Sterling and its partner Grove Energy have entered a new four year exploration period covering the 1.5 million acre Craiova Concession which it operates with a 60% working interest.

Following the recent acquisition of 185 kilometers of 2D seismic within the Dabuleni area in the south east corner of the Craiova Concession, the data was processed during December. The initial maps show two significant regional highs, a Jurassic Dogger fairway play and a semi-regional pinch-out of the Mesozoic section coming north from Bulgaria. These areas were not tested by wells which were drilled pre-seismic and were demonstrably off-structure.

Drill site selection over the two regional highs is being undertaken in the field with a view to commencing the well planning process this month. Final mapping of the Dabuleni area to include volumes and risks of all other potential prospects and leads is to be complete by the end of January.

In parallel with the above Dabuleni program, planning is ongoing for additional seismic over the remainder of the Craiova Concession to plan the second stage of the multi-well program scheduled to start in the second quarter.