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Press release from CNW Group

STERLING RESOURCES ANNOUNCES ENTRY INTO THE NETHERLANDS OFFSHORE

Friday, November 26, 2010

STERLING RESOURCES ANNOUNCES ENTRY INTO THE NETHERLANDS OFFSHORE07:00 EST Friday, November 26, 2010CALGARY, Nov. 26 /CNW/ - Sterling Resources Ltd. (TSX-V:SLG) ("Sterling" or the "Company") is pleased to announce that approval has been received from the Dutch authorities to transfer to Sterling interests in five licenses within the F-Quad and L-Quad areas offshore Netherlands. With this license transfer process completed Sterling Resources Netherlands BV will hold a 50 percent interest in the shallow geological horizons in blocks F14, F16, F17, F18 and L01b and will assume operatorship from Stratic Energy Corporation now wholly owned by Enquest PLC, who will continue to hold a 10 percent interest. Energie Beheer Nederland BV (EBN) participates at a 40 percent interest.The five blocks cover 1550 square kilometers and are located 80 kilometers offshore in a water depth of 45 meters. The shallow horizons in these blocks contain four oil discoveries, with several wells which tested oil with API gravities in excess of 30 degrees. Sterling has acquired access to a recently re-processed regionally merged 3D seismic dataset which is significantly assisting the structural interpretation."We are delighted to announce our entry into the Netherlands, in what we believe to be a material offshore growth opportunity," stated Mike Azancot, Sterling's Chief Executive Officer. "We will now begin preparations to drill an appraisal well during the latter half of 2011."Sterling Resources Ltd. is a Canadian-listed international oil and gas company headquartered in Calgary, Alberta with assets in the United Kingdom, Romania, France and the Netherlands. The shares are listed and posted for trading on the TSX Venture Exchange under the symbol "SLG".The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Filer Profile No. 00002072Forward-Looking StatementsAll statements included in this press release that address activities, events or developments that Sterling expects, believes or anticipates will or may occur in the future are forward-looking statements. In addition, statements relating to reserves or resources are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions that the reserves and resources described can be profitably produced in the future.These forward-looking statements involve numerous assumptions made by Sterling based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other-forward looking statements will prove inaccurate, certain of which are beyond Sterling's control, including: the impact of general economic conditions in the areas in which Sterling operates, civil unrest, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with oil and gas operations. Readers should also carefully consider the matters discussed under the heading "Risk Factors" in the Company's Annual Information Form.Undue reliance should not be placed on these forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Sterling's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. These statements speak only as of the date of the press release. Sterling does not intend and does not assume any obligation to update these forward-looking statements except as required by law.Financial outlook information contained in this press release about prospective results of operations, financial position or cash flows is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. Readers are cautioned that such financial outlook information contained in this press release should not be used for purpose other than for which it is disclosed herein.%SEDAR: 00002072EFor further information: Visit www.sterling-resources.com or contact:Mike Azancot, President and Chief Executive Officer, Phone: 44-1330-826764, Mobile: 44-7740-432883, mike.azancot@sterling-resources.co.ukDavid Blewden, Chief Financial Officer, Phone: 44-1330-826766, Mobile: 44-7771-740804, david.blewden@sterling-resources.co.ukGeorge Kesteven, Manager, Corporate and Investor Relations, Phone: (403) 215-9265, Fax: (403) 215-9279, george@sterling-resources.com