Rig Maintenance Delays Muridava Drilling (Romania)

Sterling Resources Ltd. has announced the GSP Prometeu jack-up rig scheduled to drill an exploration well on the Muridava Block 27 has returned to its operations base in Constanta for completion of necessary maintenance work.

Rig Maintenance Delays Muridava Drilling (Romania)

The operator of the Muridava Block, Petroceltic International plc has advised that this necessary maintenance work on the rig will defer drilling of the Muridava-1 well until the end of the first quarter of 2014.

The Muridava-1 well will be drilled on the same geologic trend as the existing Olimpiyskaya and Eugenia gas discoveries and has multiple reservoir targets in the Eocene, Palaeocene and Cretaceous
formations. The well will be drilled to a total depth of around 2,500 metres and should take less than two months to complete.

The Muridava block partnership is comprised of Petroceltic Romania B.V. (40 percent equity and operator), Midia Resources S.R.L. which is a wholly owned subsidiary of Sterling Resources Ltd. (40 percent equity) and Petromar Resources S.A. (20 percent equity).

Press Release, December 13, 2013



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