LATEST NEWS

7 Jul 2008

Sterling (symbol: SEY) an AIM listed independent oil and gas exploration and production company with interests in the Gulf of Mexico, Africa and the Middle East, is pleased to announce the Iris Charlie Marin-1 (ICM-1) exploration well, in the Iris Marin PSC, offshore Gabon spudded on 5th July 2008.

2 Jul 2008

Holdings in company

The Company received notification on 2nd July 2008 that as of 1st july 2008, Mr Denis O’Brien had an interest in 232,575,858 ordinary shares of 1p each in the Company ("Ordinary Shares").

2 Jul 2008

Sale of interest in Forum Energy PLC

Sterling has sold all of its 4,004,000 ordinary shares (13.95% interest) in FEP at a price of 48p per ordinary share, representing a 100% premium to the market price of 24p at close of business on 1 July 2008, a net consideration of £1.9 million (approximately $3.8 million).

25 Jun 2008

Korean National Oil Company Assigned 20% Interest in Sangaw North Block

Sterling notes today’s announcement by the Kurdistan Regional Government of Iraq (“KRG”) that the Korean National Oil Company (“KNOC”) has been nominated by the KRG to receive the Third Party Interest allocation of 20% in the Sangaw North Block.