Sterling Resources Ltd. to increase interest in the Craiova concession, onshore Romania

CALGARY, Aug. 18 /CNW/ - Sterling Resources Ltd. ("Sterling") (TSX-V: SLG.V) is pleased to report that it has reached agreement to acquire an additional 40% working interest in the large (1,500,000 acre) South Craiova Block E III-7 located onshore Romania.

The agreement, which is subject to the completion of formal documentation and approval by the National Agency for Mineral Resources, is effective from July 1, 2008 and allows the transfer of the entire right, title and interest previously held by Grove Energy (Romania) Limited to Midia Resources SRL, a wholly owned subsidiary of Sterling.

"With a return to a 100% working interest in the Craiova area, we will be progressing with our plans to see the start of a multi-well drilling program, targeting shallow gas potential in the Goshawk area of Craiova towards the end of 2008 and reviewing the potential for additional seismic within this large concession area" stated Stephen Birrell, Sterling's Vice President of Operations in Romania.

Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, Romania and France. The shares are listed and posted for trading on the TSX Venture Exchange under the symbol "SLG".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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.

Contacts

visit www.sterling-resources.com or contact: George Kesteven
Manager
Investor Relations
Phone: (403) 215-9265
Fax: (403) 215-9279
george@sterling-resources.com

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