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Press release from CNW Group

Sterling Resources Announces Successful Installation of Breagh platform in the North Sea

Monday, October 24, 2011

Sterling Resources Announces Successful Installation of Breagh platform in the North Sea02:31 EDT Monday, October 24, 2011CALGARY, Oct. 24, 2011 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") is pleased to announce that the Breagh Alpha platform has been successfully installed in the North Sea.  The 2,000 tonnes jacket with eight piles weighing a further 2,000 tonnes was installed by Heerema Marine Contractor's heavy lift vessel (HLV) Thialf, in 62 metres of water some 100 kilometres off Teesside along the East Coast of the United Kingdom. This was then followed by the successful lift and setting of the 1,400 tonnes integrated deck topsides. All work was completed safely and without incident."The successful installation of the Breagh Alpha platform is another major milestone in the development of the Breagh gas field as we advance towards initial gas production in mid 2012," stated John Rapach, Sterling's Chief Operating Officer.  "We are pleased that this installation was completed safely and without incident, and we now look forward to drilling new production wells and completing the onshore facilities over the coming months," added Mr. Rapach.The Breagh field is located in UKCS blocks 42/12a and 42/13a of the Southern North Sea in 62 metres water depth, approximately 100 kilometres east of Teesside. The field is being developed in two phases. Phase 1 entails gas to be exported via a 20 inch pipeline from the Breagh Alpha platform to Coatham Sands, Redcar on the UK mainland, and a 10 kilometre onshore pipeline for processing at the Teesside Gas Processing Plant (TGPP) at Seal Sands. The TGPP site is owned by Teesside Gas & Liquids Processing, and after processing at the TGPP, the gas will enter the UK National Transmission System. Phase 2, for which we anticipate receiving field development program (FDP) approval in early 2012, is expected to include additional wells in the east of the field drilled from the Breagh Bravo platform which will be tied back to the Alpha platform.RWE Dea, as operator, holds a 70 percent interest in the Breagh gas field, with Sterling holding the remaining 30 percent. The Breagh field is one of the largest natural gas discoveries under development in the UK Southern North Sea. The gas field is a conventional carboniferous reservoir and will be the first large scale production for Sterling. Further upside potential is expected in the surrounding exploration blocks.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".Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.Image with caption: "Breagh Alpha Platform UK Southern North Sea (CNW Group/Sterling Resources Ltd.)". Image available at: http://photos.newswire.ca/images/download/20111024_C6711_PHOTO_EN_5292.jpgFor further information: For 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.com David Blewden, Chief Financial Officer, Phone: 44-1330-826766, Mobile: 44-7771-740804, david.blewden@sterling-resources.com George Kesteven, Manager, Corporate and Investor Relations, Phone: (403) 215-9265, Mobile: (403) 519-3912, george.kesteven@sterling-resources.com