Summary
STERLING Energy, the Aim-listed oil and gas exploration and production group, plans to sell its US business.
The operations, which include offshore assets in the Gulf of Mexico and onshore sites in Texas and Louisiana, are valued by analysts at about [pounds]150 million - more than Sterling's entire stock market value. Sterling is believed to be close to appointing City advisers to manage the sale, which could wipe out its [pounds]70 million debt, though the cash is expected to be reinvested in other parts of the business.See the full content of this document
Extract
Sterling Eyes [Pounds]150m Us Sell-Off
It would be the first major a...
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