Sterling Resources Trend Analysis.
Chart is courtesy of marketclub.
Sterling Resources Ltd. (Sterling) is engaged in the acquisition of petroleum and natural gas rights, and the exploration for, and the development of crude oil and natural gas. On January 22, 2009, the Company announced the completion and testing of the Breagh well located on Block 42/13 in the SNS. In January 2008, it completed the testing of the Ana-1 gas well (formerly Doina Sister) on the Midia Block offshore Romania. The well flowed at restricted rates of up to 19.2 million standard cubic feet per day (MMscf/d). In November 2008, the Company completed the drilling of the Cladhan exploration well located on Block 210/29a in the United Kingdom Northern North Sea. The reservoir logs indicated 25 feet of net sands with saturations of light oil. In November 2008, it also commenced drilling the West Breagh 42/13-5 well and its subsequent horizontal deviation, 42/13-5z. The horizontal section was tested at rates of up to 26 MMscf/d subsequent to year ended December 31, 2008.
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