LONDON (Thomson Financial) - Sterling Energy Plc. said it has conditionally
agreed to farm out an 18 percent interest in the Iris Marin production sharing
contract offshore Gabon to Addax Petroleum Overseas Ltd. for $3.3 million in
cash.
The AIM-listed oil & gas exploration and production company said it will
retain a 32 percent interest in Gabon.
It said the ICM-1 exploration well on the Charlie prospect on Iris Marin is
due to spud in late June.
TFN.newsdesk@thomson.com
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