Madagascar : Ambilobe
Location: Offshore NW Madagascar, Indian Ocean
Area: 15,600 km2
Sterling Equity: 100% (Operator)
The PSC for Ambilobe is in its second phase of the exploration period. All work commitments have been fulfilled by
completing geological and geophysical studies and acquiring approximately 1,000km of 2D seismic. In March 2009,
ExxonMobil, who had farmed in to the PSC in July 2005 for a 70% working interest withdrew from the PSC and their
interest in the block reverted to Sterling. Following ExxonMobil’s withdrawal the duration of the second phase was
extended by 18 months to November 2010. Sterling is monitoring the political situation in Madagascar and will evaluate
the alternatives for progressing the exploration activities on Ambilobe.
