Friday, June 9, 2017

Somaliland- Sterling To Start 2D Seismic Over Odewayne Block With Genel

LONDON (Alliance News) - Sterling Energy said on Friday the government-sponsored 2D seismic campaign on the Odewayne block in Somaliland has commenced.

Sterling will be carried by London-listed Genel Energy PLC for all costs as the campaign satisfies the minimum work obligation for the period.

Initial results are expected late in the third quarter of 2017, after which Sterling will make its own technical evaluation of the data.

"We are very pleased that the 2D seismic campaign has commenced. It will provide the first detailed subsurface view in what is one of the last untested large frontier rift basins in Africa. We would like to congratulate the Ministry of Energy & Minerals for the successful start to the campaign," said Sterling Chief Executive Officer Eskil Sterling.

Shares in Sterling Energy were down 1.9% at 14.60 pence on Friday afternoon.