Sterling to sell interest in McLouth oil field

Sterling Energy Resources Inc. (Pink Sheets: SGER) plans to raise $1,750,000 of capital through the sale of a 25% working interest in the McLouth oil field in Kansas. The sale will be made to a partnership formed, sponsored, and managed by Sterling. 

The company plans to utilize the capital to drill new development wells in the oil field, to rework and retrofit several existing oil wells to increase oil production from them, and to implement other operations to enhance oil production.

Sterling owns and operates the McLouth oil field, and also owns working interests in leases in Texas.

 

 

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