Sterling Energy, the AIM-listed (symbol: SEY) independent oil & gas exploration and production company, note the announcement made earlier today by Roc Oil Company Limited (“ROC”) on the Chinguetti-18 development well, reproduced below. 

The ROC Oil announcement:

Further to its Stock Exchange Release on 9 January 2006 regarding the Woodside-operated Chinguetti-18 development well in PSC B, ROC advises that as of 14 January 2007, the well has been drilled to a Total Depth of approximately 2,883 metres measured depth, and is scheduled for completion in mid-February.

Well results are in line with expectations, with an approximate 213 metre gross oil column (35 metres net) in true vertical depth (TVD) terms, in good quality reservoir sands which appear well placed to access pressure support from the Chinguetti-8 (sidetrack 1) water injection well.

Chinguetti-18 is located within the southern part of the Chinguetti Oil and Gas Field in a water depth of 819 metres, approximately 80 km southwest of the Mauritanian capital, Nouakchott.

Sterling has an economic interest in Chinguetti through Societe Mauritanienne des Hydrocarbures and an additional royalty interest through Premier Oil.

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