SEY.L Regulatory News (SEY)

1 Oct 2009 07:00



1st October 2009

STERLING ENERGY PLC

("Sterling" or the "Company")

Directorate Changes

Sterling is pleased to announce the following directorate changes with immediate effect.

Nicholas John Clayton, aged 46, has been appointed a non-executive director of the Company. Mr Clayton will be a member of the Audit Committee, which he will chair, the Remuneration and Nomination Committees.

Mr. Clayton has provided strategic and corporate finance advice to a number of public and private oil and gas companies since January 2007. Between August 2005 and December 2006 he was Global Co-Head of Oil and Gas Corporate Finance for Canaccord Adams, a Canadian broker dealer. For the previous 5 years Mr. Clayton held the position of Global Head of Oil and Gas Corporate Finance for Dresdner Kleinwort Benson, the investment bank, having previously been Global Head of Oil and Gas Research between 1997 and 2000. Mr. Clayton began his career at BP having obtained a first class honours degree in Business Studies, sponsored by BP, from Portsmouth Polytechnic in 1985.

He is currently a non-executive Director of Artumas Group Inc, an international oil company listed on the Oslo Stock Exchange, Bridge Resources Corp., a Canadian listed company with operations in the North Sea and North America. He also provides strategic advice to Geopark, an AIM-listed company operating in Chile and Argentina. Other directorships held over the past 5 years were Arawak Energy Limited, an oil and gas company operating in the Former Soviet Union and International Petroleum Services Corporation Ltd, a private oil services company operating in China.

Mr Clayton has confirmed that there is no further information to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules, save as set out above.

Following Mr Clayton's appointment, Peter Wilde is now stepping down as a non-executive director. Peter has been a director of the company since its inception. His intended resignation was announced on 14 August at the time of the recent Placing and is by mutual agreement. He wishes the company and Board all future success.

Alastair Beardsall, Sterling's Chairman said:

"I am extremely pleased Nick has joined Sterling's board. He has a wealth of experience in corporate finance and investment advice within the oil and gas industry that will help Sterling to both formulate and implement its growth strategy for the future. 

I would like to thank Peter for his invaluable contribution over the years and in particular for his advice and guidance during the recent very challenging period for the Company".

Enquiries

Sterling Energy Plc (+44 20 7405 4133) Web site: www.sterlingenergyplc.com 

Alastair Beardsall, Chairman

Graeme Thomson, CEO

Evolution Securities (+44 20 7071 4300)

Rob Collins 

Chris Sim

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

George Cazenove