Sterling ends agreement with Melrose Resources on Black Sea offshore blocks

Canadian oil and gas company Sterling Resources has ended the agreement with Melrose Resources BV for Sterling's Pelican and Midia blocks, offshore Romania, the company has announced. "The inability to obtain assignment approval has impeded progress on the Ana and Doina discoveries, as well as further exploration and appraisal activities on the blocks," according to the company. Sterling now intends to move forward with offshore activities together with its other intended assignees, PetroVentures Europe BV and Gas Plus International BV. “The company has withdrawn the 32.5 percent assignment request made on May 22, 2009 with the National Agency for Mineral Resources (NAMR) for Melrose Resources BV on Sterling's Pelican and Midia Blocks, offshore Romania. The effective date of this withdrawal request to NAMR, the regulatory agency responsible for mineral resource administration on behalf of the Government of Romania, is November 1, 2010,” writes an official statement by Sterling. The farm-in agreement between Sterling Resources and Melrose, the latter was to become operator of the two gas field developments, Ana and Doina, located in the Pelican XIII and Midia XV offshore blocks. Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, Romania and France. editor@romania-insider.com