Oops I made a big mistake in my postings entitled Shelly Field Development. I connfused the Sheryl field with Shelly. Sheryl is the field that Sterling is the 35% partner in with Oilexco holding 65% which will now most likely be assumed by Premier Oil in its buyout of Oliexco's subsidiary ONSL. Sorry for the error.

Sterling stated the following in its March 11 news report concerning the Sheryl Field:

"Sterling is also pleased to announce that it has elected to take back operatorship for the Sheryl (Block 21/23a in the central North Sea) discovery in which Sterling holds a 35% interest. The project has been on hold, awaiting capacity in the Pict pipeline system, which is anticipated to be available in late 2009 or early 2010. Sheryl was originally drilled in 2006 and tested oil at a maximum rate of 1915 barrels of oil per day of 22 API gravity oil, although independent studies indicate the potential for up to 10,000 barrels of oil production per day from a high angle well with sand control and artificial lift."

Best Wishes; Scott