Canadas Sterling Resources finds natural gas in Romanian offshore.

By bne IntelliNews December 17, 2012
Calgary-based Sterling Resources said that upon its first drilling at the Eugenia-1 well in Romania's Black Sea offshore Pelican block the presence of natural gas was confirmed. The Pelica block stretches over 2,312 square km. The preliminary analysis indicated that a 20-metre thick layer around the 2,000m depth Late Cretaceous sandstones displayed encouraging natural gas saturations of 55-62% and porosity of 10-20%, the Canadian firm said in a statement. Further evaluation of the drilling's outcome is ongoing. The presence of gas in both the Eocene limestone and Cretaceous sand sections in this first exploration well is a great step forward in the Pelican block exploration, Pat Whitley, Sterling's vice president for international exploration said. Sterling's fully-owned subsidiary Midia Resources is the operator of and owns a 65% interest in the Pelican block along with its partners Petro Ventures Europe BV (20%) and Gas Plus International BV (15%). Earlier this year it announced equally successful results of the first well in the Midia block -- the other Romanian offshore block operated by Sterling and its partners.
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