South Mississippi
Sterling has working interests in three additional oil and gas fields located in Mississippi and East Texas that consist of 17 operated producing wells, minor interests in four non-operated wells and four shut-in wells awaiting workover. At year-end 2006, net production was 400 Mcfed. Fifteen proved undeveloped locations have identified on the properties that have the potential to add 3 Mmcfed to net production. These properties are characterised by large, long-lived producing fields and include the Carthage field in East Texas and the Bovina field in Northwest Mississippi. The Company has an average 50% working interest and 36% net revenue interest in the acquired properties.
