Sterling Energy Resources (SGER)

[LouisDesyjr]

Out of Bankruptcy, 2009 and 2010 financials available

Sterling Energy Resources came out of bankruptcy last year, November 2011. The company paid off all of its debts (bank loan and A/P) by selling off some of its property. There are financial statements available for 2009 and 2010 if you write to the company. I got a copy and hope that financial statements for 2011 are available soon.

The old web site for sterling at http://www.sterlingenergyresources.com/ is not active at the moment but hopefully, now that the bankruptcy is over it will be put back up again.

There was no change to the old shares and the stock symbol is SGER again. (While the company was in bankruptcy the stock symbol was SGERQ, but if you held onto shares throughout the bankruptcy you should see them in your account as SGER again.)

I wrote to them asking if there was going to be a program put in place to drill on all of the possible well locations with the existing properties. I hope that with oil at $100 per barrel that it would make sense.

Louis.