16th Feb 2015 09:06
LONDON (Alliance News) - Sterling Energy PLC on Monday said it has secured the final stage in the approval process for its Ambilobe and Ampasindava blocks in Madagascar.
The licence applications for the two blocks were granted ministerial and presidential approval in October last year, and those approvals have now been published in the Official Gazette of Madagascar, the final step in the approval process in the country.
"We are pleased to receive approval for the extension of the current periods on both the Ambilobe and Ampasindava Blocks. Work continues on understanding the sub-surface potential of these two very large, undrilled exploration areas," said Sterling Chairman Alastair Beardsall.
Sterling Energy shares were untraded on Monday morning, having last traded at 16.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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