London-listed explorer Sterling Energy said Tuesday that it is poised to sell its US business to an unidentified non-US buyer for an initial payment of $90 million, with further possible payments depending on oil and gas prices over the next three years. Sterling expects to receive about $79 million in cash on completion of the deal - expected in early December - and will use the cash to repay outstanding debt, which totals about $73 million.
展开▼
