SEY.L Regulatory News (SEY)

24 Jan 2007 11:22

Sterling Energy PLC24 January 2007 STERLING ENERGY PLC ("Sterling" or the "Company") OFFSHORE MAURITANIA DRILLING UPDATE CHINGUETTI-18 DEVELOPMENT WELL Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas explorationand production company, note the announcement made earlier today by Roc OilCompany Limited ("ROC") on the Chinguetti-18 development well, reproduced below. The ROC Oil announcement: Further to its Stock Exchange Release on 9 January 2006 regarding theWoodside-operated Chinguetti-18 development well in PSC B, ROC advises that asof 14 January 2007, the well has been drilled to a Total Depth of approximately2,883 metres measured depth, and is scheduled for completion in mid-February. Well results are in line with expectations, with an approximate 213 metre grossoil column (35 metres net) in true vertical depth (TVD) terms, in good qualityreservoir sands which appear well placed to access pressure support from theChinguetti-8 (sidetrack 1) water injection well. Chinguetti-18 is located within the southern part of the Chinguetti Oil and GasField in a water depth of 819 metres, approximately 80 km southwest of theMauritanian capital, Nouakchott. Sterling has an economic interest in Chinguetti through Societe Mauritaniennedes Hydrocarbures and an additional royalty interest through Premier Oil. For further information contact: Sterling Energy plc (+44 1582 462 121)Harry Wilson, Chief ExecutiveGraeme Thomson, Finance Director Citigate Dewe Rogerson (+44 207 628 9571)Media enquiries: Martin Jackson / George CazenoveAnalyst enquiries: Nina Soon www.sterlingenergyplc.com Ticker Symbol: SEY This information is provided by RNS The company news service from the London Stock Exchange