Sterling provides update on rig timing

CALGARY, July 16 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG.V)

Offshore Romania, Sterling is pleased to announce that it has received notification from Grup Servicii Petroliere S.A (GSP), the owner of the Prometeu jack-up rig, that they plan to have the rig on location on or around the 19th of July. Following rig up and conductor driving, this will enable the drilling of the well to start early next week.

The first well, which is will be known as the Doina-4 well, is expected to take around 20 days to drill and log and a further 15 days if testing is undertaken. Independent mapping of the Doina structure has indicated the potential for significant upside to the north and east of the three wells previously drilled. The Doina 4 well location has been selected approximately 1.5 kilometers north and east of the Doina 2 well to both further appraise the existing discovery and provide additional data to partially evaluate further upside. A successful well will be completed with a mud line suspension system which will allow future re-entry and possible use as a producer.

Stewart Gibson, Chief Executive Office of Sterling, states "Following the successful discovery with our first operated well in the Black Sea, (Doina Sister/Ana) we are excited to see our plans for the Midia Block moving forward. In addition to refining the resource estimates within the original Doina discovery, the next well (Doina-4) will hopefully yield valuable insight into the upside which may exist within the overall Doina trend. The activity in Romania as well as the expected drilling of several wells in the UK offshore during the next six months is a period of important activity for the Company."

Sterling Resources Ltd. is an international oil and gas company headquartered in Calgary, Alberta.

Forward-Looking Statements

This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond Sterling's control, including: the impact of general economic conditions in the areas in which Sterling operates, civil unrest, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with oil and gas operations, therefore Sterling's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. All statements included in this press release that address activities, events or developments that Sterling expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include future production rates, completion and production timetables and costs to complete wells, and production facilities. These statements are based on assumptions made by Sterling based on its experience perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

Contacts

visit www.sterling-resources.com or contact: Stewart G. Gibson
Chief Executive Officer
Phone: 44-133082-6717
Mobile: 44-7768-042219
stewart@sterling-resources.co.uk

or George Kesteven
Investor Relations
Phone: (403) 215-9265
Fax: (403) 215-9279
ian@sterling-resources.com