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Sterling Resources awarded exploration licenses offshore Netherlands

Tuesday, March 6, 2012
  • These licenses, covering 792 square kilometres (396 square kilometres per block), are located in the northern sector of the Dutch North Sea.

Sterling Resources Ltd. (TSX-V:SLG) on behalf of its wholly-owned subsidiary Sterling Resources Netherlands BV, is pleased to announce the joint award of exploration licenses E3 and F1 in the Dutch North Sea. These licenses, covering 792 square kilometres (396 square kilometres per block), are located in the northern sector of the Dutch North Sea and have been awarded to Wintershall Noord Zee (operator with 50 percent) and Sterling (also 50 percent) for a period of four years, with a commitment to acquire approximately 600 square kilometres of 3D seismic.

"We are pleased to have started our business growth program in the Netherlands by involvement in an exciting exploration opportunity with a strong partner," stated Stephen Birrell, Sterling's Vice President and General Manager, France and the Netherlands. "We look forward to applying our Southern North Sea exploration and appraisal experience in this new jurisdiction in conjunction with our current activities in the F Quad," added Mr. Birrell.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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