Sterling Resources Says Hello to New CFO

Sterling Resources announced that David Blewden has joined the Company as Chief Financial Officer, subject to the approval of the TSX Venture Exchange.

The Board of Directors has awarded stock options to Mr. Blewden to acquire 675,000 common shares at an exercise price of $1.94 per share. The options are exercisable for up to a five-year term and shall vest over three years from the date of grant.

Mr. Blewden's appointment to the role of Chief Financial Officer was originally announced on July 14, 2010. David Blewden is a senior financial executive with extensive international experience in oil and gas financial management, corporate finance and energy investment banking. From 2008 until earlier in 2010 he served as CFO of PetroSaudi International, a private company with Saudi Royal Family backing. From 2006 to 2008 he served as CFO of African Arabian Petroleum Ltd, a company with exploration and production assets in North and West Africa. Previous to this he held senior financial positions at Yukos Oil Company, and energy investment banking roles at Citigroup, UBS, Chase Manhattan and Schroders. Mr. Blewden holds a BA (Honours) and MA in Natural Sciences from Trinity College, Cambridge, England.