Sterling Energy Plc provides an update on the transaction between its wholly owned subsidiary Sterling Cameroon Limited and Murphy Cameroon Ntem Oil Co., Ltd whereby Murphy will transfer its 50% interest in, and operatorship of, the Ntem Concession, offshore Cameroon to Sterling.

Ministerial approval of the Transaction has now been granted and will, in due course, be formally ratified by way of Presidential decree.

Under the terms of the Transaction, the transfer of Murphy's interest in, and operatorship of, the Ntem Concession to Sterling is now complete.

Tags: Murphy Oil Corp., Sterling Energy Plc