12,405,630 Outstanding Shares as of May 31, 2006
Sterling Energy Resources Announces Acquisition of the Brown & Thorp Waterflood Unit in Pecos County, Texas
Feb 29, 2008 1:48:00 PM
Copyright Business Wire 2008
View Additional ProfilesOVERLAND PARK, Kan.--(BUSINESS WIRE)--
STERLING ENERGY RESOURCES, INC. (Pink Sheets:SGER) announced today the acquisition of the Brown & Thorp Waterflood Unit located in Pecos County, Texas. The 2,140 acre unit currently produces 110 BOPD from 29 producing wells and 13 injection wells. Oil production is from the Clearfork formation at 3,400'. Proved developed reserves are estimated at 1,400,000 BO. An additional 25 drilling locations have been identified within the unit along with numerous rework and recompletion opportunities on the existing wells. Sterling Energy is the unit operator and holds a 100% working interest share in the unit.
ABOUT STERLING ENERGY RESOURCES, INC. (Pink Sheets:SGER)
Sterling Energy Resources, Inc., is a growth oriented energy company engaged in the exploration, development, production, and acquisition of oil and natural gas in the continental United States. Sterling Energy is headquartered in Overland Park, Kansas and has an administrative office in San Diego, California(1).
(1) Certain sections of the Annual Press Release contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of production, revenues, earnings, and cash flows. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation, general U.S. and international political and economic conditions.
All forward-looking statements speak only as of the date of this report or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the company or any person acting on the company's behalf are qualified by the cautionary statements in this section. The company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.
Source: Sterling Energy Resources, Inc.
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Well #13 last update 3/14/08
Well #14 last update 3/6/08
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