CALGARY, Oct. 28, 2015 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) ("Sterling", or the "Company") announces that an updated corporate presentation is being made available today to holders of its senior secured bond (ticker on Nordic ABM exchange: STRE01 PRO) (the "Bond"). As well as describing the background to the proposed Bond amendments announced on October 22, 2015, the presentation includes an operational update and revised estimated corporate cash flow projections reflecting recent forward curve gas prices and latest estimated Breagh capital expenditures. Compared to the estimates set out in the Company's news release of August 20, 2015, estimated cumulative Breagh capital expenditures (excluding Breagh Phase 2 pre-sanction costs) from mid-2015 to end 2017 (the completion of the Phase 1 development) has dropped slightly from US$93 million to US$86 million (net to Sterling) largely as a result of revised well costs and onshore compression costs.
A copy of the presentation is being uploaded to the Company's website.
Sterling is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, France and the Netherlands. The common shares are listed and posted for trading on the TSX Venture Exchange (TSX-V) under the symbol "SLG".