On 6 November 2013, Sterling Energy Plc, announced that its wholly owned subsidiary, Sterling Energy (East Africa) Limited (Sterling), had completed a farmin for a 10% participating interest in the Production Sharing Contract for the Odewayne Block (the "PSC"), located onshore in the Republic of Somaliland.
Sterling Energy Plc is now pleased to announce that Sterling has signed a further Farmout Agreement for the PSC with Jacka Resources Somaliland Limited ("Jacka").
The current holders of the PSC are:
◾ Genel Energy Somaliland Limited (Operator) - 50%
◾ Sterling Energy (East Africa) Limited - 10%
◾ Petrosoma Limited - 10%
◾ Jacka Resources Somaliland Limited - 30%