Continental Focus, International Reach

Sterling Energy Shares Jump 39%, May Sell

Tuesday, August 11, 2009




Sterling Energy has seen an upward movement in its share price over recent days, rising 39% over the past week. The company issued a statement on its share price movement noting that it is continuing to consider its strategic options within the context of the stock value gains.

 

Sterling confirmed that it has been exploring a number of options including a sizeable placing of new equity at a significant discount to the current market price. In addition, it is in discussions with interested third parties regarding the sale of assets or the sale of the company.

 

Sterling closed its statement saying that there is no certainty that an offer for the company will be forthcoming.


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