Sterling Resources Ltd. has reached agreement with several of its largest shareholders, including Vitol Energy (Bermuda) Limited ('Vitol Bermuda'), Meridian Capital International Fund, YF Finance Limited and Waterford Finance and Investment Limited, collectively representing approximately 39 percent of the issued and outstanding common shares of the Company (the 'Common Shares'), to support the ongoing growth of Sterling as a public company.

As part of this agreement, Sterling will propose for election at the Company's annual general and special meeting of shareholders to be held on June 11, 2013 (the 'Meeting') two new members to the board of directors with significant leadership, expertise and experience in the energy industry. In addition, Vitol Anker International B.V. ('Vitol Anker'), an affiliate of Vitol Bermuda, has confirmed that it has abandoned its previously announced intention to make a take-over bid for Sterling's Common Shares.

Tags: Sterling Resources Ltd.