Somalilandsun – Following is a statement by the chair of Sterling Energy on Odweyne Oil block in Somaliland . The statement is part of the annual report published by the company on March 17, 2014 which covers the annual results for the year ended 31 December 2013.
It read as follows : ” We have acquired a 25% interest in the Odewayne PSA in Somaliland from Jacka Resources and Petrosoma; our share of costs for acquiring 1,500km of 2D seismic and drilling one exploration well are carried by Genel Energy”.
The Odewayne block covers some 22,000km2 of unexplored land on which surface oil seeps indicate an active petroleum system. We look forward to advancing the exploration of this new opportunity during 2014.
Read the complete report in PDF