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7/26/2010 - OCEAN NOMAD MOBILIZES TO BLAKENEY PROSPECT
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Sterling Resources reveals that the OCEAN NOMAD rig is under contract and should commence drilling at the Blakeney exploration well located in Block 21/27b of the Central North Sea imminently. This is the first well in the block, in which Sterling holds a working interest of 25% is operated by Wintershall (75%). The well is targeting the Upper Tay sandstone formation at an estimated target depth of 3,260 feet. The Blakeney prospect is approximately 10 kilometers southwest of Starling’s Sheryl discovery in Block 21/23a.
“The structure shows great promise with a clear flat spot on the seismic, which suggests the presence of an oil-water contact,” stated David Findlater, Sterling’s Vice President of Exploration. “Another discovery in the area would be very positive in unlocking the development potential of some of the smaller oil discoveries in the area such as our Sheryl field,” stated John Rapach, Sterling’s COO.
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