9th Apr 2015 08:23
LONDON (Alliance News) - Sterling Energy PLC on Thursday said the transfer of the Ntem concession in Cameroon has been approved by the country's government.
Under the deal, Murphy Cameroon Ntem Oil Co Ltd will transfer is 50% interest in the Ntem concession to Sterling Cameroon Ltd.
Ministerial approval for the deal has now been granted and will be formally ratified via a Presidential decree in due course, Sterling said.
Sterling shares were untraded Thursday, having last traded at 17.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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