18 September, 2020
Sterling Energy published 6 months operation results for the period ending 30 June 2020.
The main highlights are:
- Financial summary: The Group remains debt-free and fully carried for Odewayne operations. Cash resources as at 30 June 2020 of $43.8 million
- Corporate summary: Continued M&A mandate, screened over 20 separate opportunities globally with 3 of these progressing to the indicative offer
- Operations summary: Odewayne block, Somaliland operating updates - the final products of the reprocessing of 1,000km of 2D seismic data to Pre-Stack Time Migration were delivered Q1 2020. Somaliland offers on the last opportunities to target an undrilled onshore Mesozoic rift basin in Africa.