Tag Archives | Sterling Energy

Sterling Energy to Pull Out of Kurdistan

Sterling Energy has announced that it is withdrawing from the Sangaw North Production Sharing Contract (“PSC”) in Kurdistan. Shares in the company were trading down 3.3 percent on Friday morning: Interpretation of the 2D seismic data acquired in the Sangaw North PSC during 2012 has indicated that the remaining potential is insufficient to justify drilling […]

Sterling Energy Presentation

By John Lee. Sterling Energy has presented today at the 9th Africa Independents Forum 2012, which forms part of the 19th Africa Oil Week conference, an annual event held in Cape Town. The please click on the following pages to see information on the company’s operations in Iraqi Kurdistan:

Sterling Energy Rises on Interim Management Statement

By John Lee. Shares in Sterling Energy were up more than 1% in early trading on Monday, following the publication of the company’s interim management statement. Sterling made the following statement on operations in Iraqi Kurdistan: “The Company completed the acquisition of 117 km of 2D seismic data in the Sangaw North block in south […]

Sterling Energy Updates on Sangaw North

By John Lee. Sterling Energy Plc has announced the following updates in the Sangaw North Production Sharing Contract (“PSC”) in Kurdistan: 2D Seismic Acquisition: The acquisition of 2D seismic data in the Sangaw North PSC, which commenced in July, has now been completed. 117 km of data was successfully acquired and is now being processed, […]

Sterling Energy Issues Half-Year Results

By John Lee. Sterling Energy has announced its results for the six month period ending 30 June 2012. (Picture: Surface oil seeping from the ground at Sterling Energy’s Sangaw North block) Summary Cash as at 30 June 2012 of $114.4 million ($112.9 million net of partner funds), no debt. $7.1 million expected in July from […]

Sterling Energy Rises on Interim Management Statement

Shares in Sterling Energy rose 3.7% on Thursday following the publication of its interim management statement. In the statement, the company made the following commentary on its operations in Iraqi Kurdistan: The second, and final, sub-period of the exploration phase of the Sangaw North PSC commenced in November 2011 and has a duration of 2 […]

Sterling Energy Falls 5.7% on Results

In its announcement this morning of results for the year to end of December 2011, Sterling Energy gave the following review of its operations at the Sangaw North block in Iraqi Kurdistan, in which it has a 53.33% working interest: The Sangaw North block lies in the foothills region of the Zagros fold belt, approximately […]

Kurdistan-Related Oil Shares Rally

Share prices  in companies related to oil exploration in Kurdistan rallied on Monday, as stories circulated about a resolution of the dispute between Baghdad and Erbil on the recognition of oil contracts. This came despite an escalation in tensions between the two administrations regarding these contracts, which was brought to a head with the announcement […]

Sterling Energy Interim Management Statement

Sterling Energy has issued its Interim Management Statement for the period beginning 1 July 2011. Angus MacAskill, Sterling’s Chief Executive, said: “We are pleased with the progress made towards introducing a partner to the Ntem block in Cameroon and expect to complete the process by the end of 2011. “Following the disappointing results of the […]

Sterling Energy Half-Year Report

Sterling Energy (LSE: SEY) has just issued its half-year results, and its shares were trading up 4% on Friday morning. The results statement included the following information regarding its operations in Iraqi Kurdistan: Prospects and Outlook In the Sangaw North block, onshore Kurdistan, an integrated interpretation of the 2D seismic and the data acquired during […]

Sterling Energy Slumps on Kurdistan Update

Shares in Sterling Energy (AIM: SEY) lost nearly a third of their value on Monday morning following an update on the company’s operations in Iraqi Kurdistan. The British company has a 53.33% working interest in the Sangaw North block. A flow test has been completed across the open hole section of the Sangaw North-1 well […]