Continental Focus, International Reach

No Well for Sterling and ExxonMobil on Sifaka Prospect

Friday, March 27, 2015

Sterling Energy and its partner on Madagascar’s Ampasindava, PSC ExxonMobil have completed a review of the Sifaka prospect and concluded that the technical and commercial risks are too great to justify an exploration well; furthermore, no other drill ready prospects have been identified. JV partners are in discussions with OMNIS, the Malagasy petroleum agency on the future work program.

Over on the Ambilobe Block where Sterling is the operator, the company expects to complete the acquisition of 1,250 sq km 3D seismic data in Q2. The cost of the acquisition is being covered by Pura Vida who farmed into the block in December. Sterling said it looks forward to acquiring and interpreting this data to identify possible prospects ahead of the ‘drill or drop’ decision in July 2016.

 


« GO BACK