In November, the company announced the decision to sell equity interests in all of its Romanian Black Sea licenses during 2014, without providing further details.
The company wants to sell stakes in Midia and Pelican blocks, where it holds a 65% working interest, and Luceafarul (50% working interest).
In October 2012, Sterling announced it had reached an agreement with ExxonMobil and Romania’s OMV Petrom (SNP.RO) for the sale of its 65% stake in a portion of the block 15 Midia in the Black Sea.
Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta, with assets in the United Kingdom, Romania, France and the Netherlands.