Withdrawal from Block C-3, Mauritania

RNS Number : 2049S

Sterling Energy PLC

16 March 2016

 

16 March 2016

Withdrawal from Block C-3, Mauritania

Sterling Energy plc (the 'Company' - Ticker Symbol: SEY), the AIM listed upstream oil and gas company with interests in Africa, announces that, following its previous announcement of 29 January 2016, its wholly owned subsidiary Sterling Energy Mauritania Limited has completed its withdrawal from Block C-3, offshore Mauritania.

The holders of the production sharing contract for Block C-3, located offshore in the Islamic Republic of Mauritania are now:

Tullow Mauritania Limited (Operator)	90%
Société Mauritanienne des Hydrocarbures et de Patrimoine Minier	10%

Comment

Eskil Jersing, the Company's Chief Executive Officer commented:

"We would like to record our sincere thanks to Société Mauritanienne des Hydrocarbures et de Patrimoine Minier and the Government of Mauritania for their understanding and assistance with the withdrawal from Block C-3. We remain committed to our assets in Mauritania and look forward to focussing our efforts on de-risking and maturing the remaining potential in Block C-10." 

Further Information

Further information can be found on the Company's website at www.sterlingenergyplc.com 

Sterling Energy plc	Tel: [phone]
Eskil Jersing (CEO)
Peel Hunt LLP	Tel: [phone]
Richard Crichton Ross Allister

 

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