Union Updateand very positive it is. Note:
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Sterling’s cost of entry into both the Dutch sector of the North Sea, and the Black Sea, have been at extraordinary low levels, enabling the junior to accretively establish a significant asset base, with minimal interruptions to its growth during periods of difficult capital markets. The quality of Sterling’s assets has facilitated farming out their interests to partners who carry part of Sterling’s share of capital expenditures, further evidence of an extremely disciplined financial approach to their business, rare in the junior oil sector.
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Valuing this production at $50,000 per flowing barrel, provides potential value of $1.7 billion or almost $11.00 per share.
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Link:
https://www.union-securities.com/CMResearchFiles/1_162_Sterling%20Resources%20%28SLG%20v%29%20Bulletin%20Nov%2017%202010.pdf