Sterling Resources Ltd. announces commencement of Cladhan Well in the UK North Sea



    CALGARY, Oct. 14 /CNW/ - Sterling Resources Ltd. ("Sterling") (TSX-V:SLG)
is pleased to report that operations on the Cladhan exploration well on Block
210/29a in the United Kingdom Northern North Sea have commenced, with the
arrival of the Transocean 704 semi-submersible rig at the site. The well is
targeting an Upper Jurassic prospect and is anticipated to take 35 days to
drill. Sterling is the operator and currently holds a 39.9 percent working
interest.
    Stewart Gibson, Chief Executive Officer of Sterling stated, "We continue
our very active year of drilling with the Cladhan well, having already
completed two successful wells offshore Romania and currently preparing to
test the East Breagh well in the Southern North Sea. The Cladhan well is an
exciting exploration prospect for us with significant potential for oil in
place. Applied Drilling Technology International (ADTI) is providing drilling
support on a turnkey basis for the Cladhan well, concurrent to their ongoing
support with the ENSCO 70 rig on our current East Breagh well."
    Sterling Resources Ltd. is a Canadian-listed international oil and gas
company headquartered in Calgary, Alberta with assets in the United Kingdom,
Romania and France. The shares are listed and posted for trading on the TSX
Venture Exchange under the symbol "SLG".

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

    Filer Profile No. 00002072

    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. In addition,
statements relating to reserves or resources are deemed to be forward-looking
statements as they involve the implied assessment, based on certain estimates
and assumptions that the reserves and resources described can be profitably
produced in the future.
    These forward-looking statements involve numerous 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. In addition, these statements involve
substantial known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other-forward
looking statements will prove inaccurate, 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. Readers should also carefully consider the matters
discussed under the heading "Risk Factors" in the Company's Annual Information
Form.
    Undue reliance should not be placed on these forward-looking statements,
as there can be no assurance that the plans, intentions or expectations upon
which they are based will occur. Sterling's actual results, performance or
achievements could differ materially from those expressed in, or implied by,
these forward-looking statements. These statements speak only as of the date
of the press release. Sterling does not intend and does not assume any
obligation to update these forward-looking statements except as required by
law.
    Financial outlook information contained in this press release about
prospective results of operations, financial position or cash flows is based
on assumptions about future events, including economic conditions and proposed
courses of action, based on management's assessment of the relevant
information currently available. Readers are cautioned that such financial
outlook information contained in this press release should not be used for
purpose other than for which it is disclosed herein.

    %SEDAR: 00002072E




For further information:

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


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