14th Mar 2008 09:26
Sterling Energy PLC14 March 2008 14 March 2008 STERLING ENERGY PLC ("Sterling" or the "Company") USA GAS DISCOVERY & PRODUCTION INCREASE Sterling Energy (AIM: SEY), an independent oil & gas exploration and productioncompany with interests in the USA, Africa and the Middle East, is pleased toannounce a gas discovery from its Marlin #1 well, Texas, USA and an increase inUSA production. The Marlin #1 well has been tested at a rate of 3.4 mmcfgd (net to Sterling) ona 26/64 inch choke, flowing at 6,100 psi. This Austin Chalk well was drilled toapproximately 15,000 feet. Sterling anticipates first sales in April 2008. USA production for the first two months of 2008 averaged 28 mmcfged comparedwith 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 USAproduction revenues." Sterling Energy Plc (+44 20 7405 4133) Web site: www.sterlingenergyplc.comGraeme ThomsonHarry Wilson Evolution Securities (+44 20 7071 4300)Rob Collins Citigate Dewe Rogerson (+44 20 7638 9571)Media enquiries: Martin JacksonAnalyst enquiries: Kate Delahunty In accordance with the guidelines of the AIM Market of the London StockExchange, Harry Wilson, BSc (Hons) Physics (1973), Executive Deputy Chairman ofSterling Energy Plc, who has been involved in the oil industry for over 33years, is the qualified person that has reviewed the technical informationcontained in this press release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SEY.L