Sterling provides update on offshore Romania



    CALGARY, July 2 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG)

    Sterling Resources Ltd. (Sterling) is pleased to announce that it has
signed a drilling contract with Grup Servicii Petroliere S.A. (GSP) for the
use of the jack-up rig Prometeu, which is available to start operations on the
Doina D well toward the end of July 2008. The contract is for one firm well
and one option well. The option well is planned to be an appraisal and
step-out well from the Doina Sister discovery which was drilled with the
Prometeu in December 2007.
    Stewart Gibson, CEO, commented, "We are pleased to have been able to sign
a contract for the Prometeu, the rig and crew performed efficiently without
incident on our Doina Sister well and we are looking forward to starting our
2008 drilling campaign in the Black Sea."

    Forward-Looking Statements

    This disclosure contains certain forward-looking statements that involve
substantial known and unknown risks and uncertainties, certain of which are
beyond Sterling's control, including: the impact of general economic
conditions in the areas in which Sterling operates, civil unrest, industry
conditions, changes in laws and regulations including the adoption of new
environmental laws and regulations and changes in how they are interpreted and
enforced, increased competition, the lack of availability of qualified
personnel or management, fluctuations in commodity prices, foreign exchange or
interest rates, stock market volatility and obtaining required approvals of
regulatory authorities. In addition there are risks and uncertainties
associated with oil and gas operations, therefore Sterling's actual results,
performance or achievement could differ materially from those expressed in, or
implied by, these forward-looking statements. All statements included in this
press release that address activities, events or developments that Sterling
expects, believes or anticipates will or may occur in the future are
forward-looking statements. These statements include future production rates,
completion and production timetables and costs to complete wells, and
production facilities. These statements are based on assumptions made by
Sterling based on its experience perception of historical trends, current
conditions, expected future developments and other factors it believes are
appropriate in the circumstances.

    Sterling Resources Ltd. is an international oil and gas company
headquartered in Calgary, Alberta.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00002072E




For further information:

For further information: visit www.sterling-resources.com or contact
either: George Kesteven, Investor Relations, Phone: (403) 215-9265, Fax: (403)
215-9279, E-mail: george@sterling-resources.com; or Stewart G. Gibson, Chief
Executive Officer, Phone: 44-133082-6717, Mobile: 44-7768-042219,
stewart@sterling-resources.co.uk


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