Sterling completes offshore Romania transaction

Sterling Resources Ltd. has sold its 65% interest in part of the Midia block in the Romanian Black Sea to ExxonMobil and OMV Petrom.

Jan 29th, 2014

Offshore staff

CALGARY, Canada – Sterling Resources Ltd. has sold its 65% interest in part of the Midia block in the Romanian Black Sea to ExxonMobil and OMV Petrom.

The deal is valued at $29.25 million pre-tax, with a similar sum to follow in the event that the new partners make a commercial discovery, plus $19.5 million upon first production from the area.

01/29/2014

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