PV farms into Sterling blocks

Sterling Energy has signed farm-out agreements with Petro Ventures (PV) relating to the greater Breagh area in the UK North Sea.

Offshore staff

CALGARY, Canada --Sterling Energy has signed farm-out agreements with Petro Ventures (PV) relating to the greater Breagh area in the UK North Sea.

PV will earn a 20% working interest in license P1231, covering blocks 42/19, 42/20 and 42/24; 20% in license P1524 (blocks 42/2b, 42/3 and 42/4); and 15% in license P1327 (blocks 42/8, 42/9 and 42/14).

Sterling plans to drill a well on P1231 as part of a recently agreed program for the jackupEnsco 70. The company also aims to start a seismic survey on P1327 at the end of April to firm up locations for potential wells in 2009.

04/23/2008

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