Press Releases

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5 Dec 2003
Sterling Energy plc has been successful with its £38 million bid for Fusion Oil & Gas plc, creating a merged group that will have assets in the Gulf of Mexico, West Africa, & Asia, and a market capitalisation of around £90 million.
21 Nov 2003
Sterling Energy plc has announced it will not increase its offer to acquire Fusion Oil & Gas plc. Sterling Chairman Richard O’Toole said in a letter to Fusion shareholders that after 15 weeks Sterling’s offer is still the only one available.
20 Oct 2003
Shareholders in Fusion Oil & Gas plc should benefit more from future exploration success if they accept a near £40 million offer from Sterling Energy plc.
25 Sep 2003
Sterling Energy plc today announced it is making an offer to acquire the entire share capital of Fusion Oil & Gas plc. The offer values Fusion at 40.25p per share or approximately £40 million.
19 Sep 2003
Sterling Energy plc announces it has agreed to acquire a 20.4% stake in Fusion Oil & Gas. Sterling is acquiring the stake from Fusion’s largest single shareholder, AIM-quoted Westmount Energy Limited.
12 Sep 2003
The Board of Sterling has noted today's press comment speculating on the possibility of an offer being made for Fusion Oil & Gas PLC ('Fusion').
9 Sep 2003
Sterling Energy plc has won new exploration acreage in the High Island area of the Gulf of Mexico, offshore Texas. The new lease, High Island A94, is located approximately 75 miles south east of Houston, Texas, in less than 100 ft of water. It lies immediately south of Sterling’s High Island A68/A83 field.
1 Aug 2003
Sterling Energy is pleased to announce the completion of two new wells on key developments in the Gulf of Mexico. Gas from the two projects is expected on stream before the end of the summer, boosting the company’s production by around 45%.
30 Jun 2003
Final results published today by Sterling Energy plc for the year to December 31, 2002 reflect a transformation for shareholders following the reverse acquisition with AIM-quoted LEPCO plc last October.
13 May 2003
Sterling Energy plc is pleased to announce that warrant holders have exercised a total of 20,726,152 warrants, raising approximately £1.2 million for the company. The warrants entitled holders to subscribe for new ordinary shares at 6p each.
16 Apr 2003
Sterling Energy is pleased to announce the completion of another deal expected to add significantly to its revenues from gas production in the Gulf of Mexico.
27 Mar 2003
Sterling Energy is pleased to announce a significant increase in gas revenues thanks to better-than-expected production from the Gryphon #2 well in the Gulf of Mexico.

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