Sterling Hits Gas Deposit in Texas
Sterling Energy, an independent oil & gas exploration and production company with interests in the USA, Africa and the Middle East, is pleased to announce a gas discovery from its Marlin #1 well, Texas, USA and an increase in USA production.
The Marlin #1 well has been tested at a rate of 3.4 mmcfgd (net to Sterling) on a 26/64 inch choke, flowing at 6,100 psi. This Austin Chalk well was drilled to approximately 15,000 feet. Sterling anticipates first sales in April 2008.
USA production for the first two months of 2008 averaged 28 mmcfged compared with 25 mmcfged in the fourth quarter of 2007.
Graeme Thomson, CEO of Sterling, commented, "This is a very pleasing result which will add materially to our near-term USA production revenues."
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