Airidh Well Deemed Unsuccessful

Sterling Resources announced that the Airidh well 42/19a-1 drilled in the UK Southern North Sea was unsuccessful in finding a targeted natural gas presence. The well was commenced on May 23rd and reached a total depth (TD) of 4371 feet.

"Although over 300 feet of Bunter Sandstone, the primary target formation, was encountered with the top 50 feet showing a high resistivity response, no natural gas was present," stated David Findlater, Sterling's Vice-President of Exploration. "While this is not a positive outcome, the Airidh prospect was always regarded as a high risk, potentially high return well because of hydrocarbon migration. It is important to remember that the Bunter sandstone in Airidh is a younger and totally different reservoir unit from the rest of the Quad 42 targets," added Mr. Findlater.

With the completion of the Airidh well, the rig is currently preparing to move to the Macanta prospect in Block 42/14, the next exploration well to be drilled by the operator RWE Dea in the Greater Breagh Quad 42 area. The Macanta prospect is located midway between the Breagh field, which is currently being developed and the Crossman field, a discovery located in the Blocks immediately east of the prospect.