Holding(s) in Company

Sterling Energy PLC
28 August 2007


Form TR-1 with annex. FSA Version 2.1 updated April 2007

+-----------------------------------------------------------------------------+
|TR-1: Notifications of Major Interests in Shares                             |
+-----------------------------------------------------------------------------+

+-----------------------------------------------+-------------------------------+
|                                               |Sterling Energy plc            |
|                                               |                               |
|1. Identity of the issuer or the underlying    |                               |
|issuer of existing shares to which voting      |                               |
|rights are attached:                           |                               |
+-----------------------------------------------+-------------------------------+
|                                                                               |
|                                                                               |
|2. Reason for notification (yes/no)                                            |
+--------------------------------------------------------------------+----------+
|                                                                    |Yes       |
|                                                                    |          |
|An acquisition or disposal of voting rights                         |          |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|An acquisition or disposal of financial instruments which may result|          |
|in the acquisition of shares already issued to which voting rights  |          |
|are attached                                                        |          |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|An event changing the breakdown of voting rights                    |          |
+--------------------------------------------------------------------+----------+
|                                                                    |          |
|                                                                    |          |
|Other (please specify):______________                               |          |
+---------------------------------------+----------------------------+----------+
|                                       |Oppenheimer Funds Inc.                 |
|                                       |                                       |
|3. Full name of person(s) subject to   |                                       |
|notification obligation:               |                                       |
+---------------------------------------+---------------------------------------+
|                                       |                                       |
|                                       |                                       |
|4. Full name of shareholder(s) (if     |                                       |
|different from 3):                     |                                       |
+---------------------------------------+---------------------------------------+
|                                       |23 August 2007                         |
|                                       |                                       |
|5. Date of transaction (and date on    |                                       |
|which the threshold is crossed or      |                                       |
|reached if different):                 |                                       |
+---------------------------------------+---------------------------------------+
|                                       |24 August 2007                         |
|                                       |                                       |
|6. Date on which issuer notified:      |                                       |
+---------------------------------------+---------------------------------------+
|                                       |3%                                     |
|                                       |                                       |
|7. Threshold(s) that is/are crossed or |                                       |
|reached:                               |                                       |
+---------------------------------------+-------+--------------------+----------+
+---------------------------------------+-------+--------------------+----------+

+------------------------------------------------------------------------------------------+
|8: Notified Details                                                                       |
+------------------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                                       |
|                                                                                          |
|                                                                                          |
+-------------+---------------------+------------------------------------------------------+
|Class/type of|Situation previous to|Resulting situation after the triggering transaction  |
|shares       |the triggering       |                                                      |
|             |transaction          |                                                      |
|If possible  +----------+----------+----------+----------------------+--------------------+
|use ISIN code|Number of |Number of |Number of |Number of voting      |Percentage of voting|
|             |shares    |voting    |shares    |rights                |rights              |
|             |          |rights    |          +-----------+----------+----------+---------+
|             |          |          |          |           |          |          |         |
|             |          |          |          |           |          |          |         |
|             |          |          |          |Direct     |Indirect  |Direct    |Indirect |
+------------++---------++---------++---------++---------+-+---------++---------++---------+
|GB0005299929|60,000,000|60,000,000|45,618,410|-         |45,618,410 |-         |2.91%     |
+------------++---------++---------++---------++---------+-+---------++---------++---------+
+------------++---------++---------++---------++---------+-+---------++---------++---------+

+--------------------------------------------------------------------------------+
|B: Financial Instruments                                                        |
|                                                                                |
|                                                                                |
+--------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                            |
|                                                                                |
|                                                                                |
+---------------+---------------+---------------+----------------+---------------+
|Type of        |Expiration date|Exercise/      |No. of voting   |Percentage of  |
|financial      |               |conversion     |rights that may |voting rights  |
|instrument     |               |period/date    |be acquired (if |               |
|               |               |               |the instrument  |               |
|               |               |               |exercised/      |               |
|               |               |               |converted)      |               |
+---------------+---------------+---------------+----------------+---------------+
|               |               |               |                |               |
|               |               |               |                |               |
|               |               |               |                |               |
+---------------+---------------+---------------+----------------+---------------+

+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|Number of voting rights               |Percentage of voting rights           |
+--------------------------------------+--------------------------------------+
|45,618,410                            |2.91%                                 |
+--------------------------------------+--------------------------------------+

+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and /or  |
|the financial instruments are effectively held, if applicable:               |
+-----------------------------------------------------------------------------+
|As of 23/08/07, Oppenheimer Funds, Inc. owns 45,618,410 shares equal to 2.91%|
|of the shares outstanding of Sterling Energy plc.                            |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|10. Name of proxy holder:             |N/A                                   |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|11. Number of voting rights proxy     |N/A                                   |
|holder will cease to hold:            |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|12. Date on which proxy holder will   |N/A                                   |
|cease to hold voting rights:          |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+

+--------------------------------------+--------------------------------------+
|13. Additional information:           |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|14 Contact name:                      |Rosemary Baker                        |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|15. Contact telephone name:           |+413,744,8258                         |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+




                      This information is provided by RNS
            The company news service from the London Stock Exchange