SEY.L Share News (SEY)

Sterling Energy is struggling with the corrosive gas seeping into its Sangaw North block in Kurdistan. The gas has been stopped but the pipe has been damaged. Sterling says operations to retrieve the drill pipe have been challenging with it being recovered in lengths of between 1 metre and 120 metres and operations being required to clean smaller pieces from the well bore.The company says it cannot give an estimate of the length of time to remove the pipe. Once completed, the company plans to run casing in the well. If the rate of drill pipe recovery does not remain sufficiently high, the company may abandon the existing wellbore and re-drill to the planned casing point.