Sterling looking to replenish acreage

摘要

Sterling Energy has joined the growing group of small independents finding themselves hunting for assets as it is cash rich at a time when other companies are distressed financially. The company has a cash position of US $45m and only one asset it spends on - a minority interest in Genel's Odewayne block in the centre of Somaliland. Sterling has previously held acreage in Cameroon, Gabon, Guinea Bissau, Madagascar, Mauritania and the joint zone between Senegal and Guinea Bissau.