Press release from CNW Group
Sterling Resources Announces Management Change
Thursday, August 29, 2013
Sterling Resources Announces Management Change08:59 EDT Thursday, August 29, 2013
CALGARY, Aug. 29, 2013 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") today announced that Mike Azancot has left the employment of Sterling. Mr. Jacob Ulrich, the Chairman of the board of directors of Sterling (the "Board"), will serve as Interim Chief Executive Officer until the Company appoints a suitable replacement. With Mr. Azancot's departure, the Board has initiated a search process for a permanent Chief Executive Officer.
"On behalf of Sterling, we thank Mr. Azancot for his contributions over the past several years and wish him every success in his future endeavours", said Mr. Jacob Ulrich, Chairman of the Board and Interim Chief Executive Officer.
Mr. Ulrich continued, "I look forward to working with the team in realizing the potential of the Company's asset portfolio, from imminent production of Breagh to the further development of the Company's exploration portfolio."
Sterling 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 Common Shares are listed and posted for trading on the TSX-V under the symbol "SLG".
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
All 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.
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.
SOURCE: Sterling Resources Ltd.
For further information:
visit www.sterling-resources.com or contact:
Jacob Ulrich, Chairman and Interim Chief Executive Officer, Phone: 44-20-3008-8485, Mobile: 44-7876-346399, firstname.lastname@example.org
David Blewden, Chief Financial Officer, Phone: 44-20-3008-8488, Mobile: 44-7771-740804, email@example.com
George Kesteven, Manager, Corporate and Investor Relations, Phone: (403) 215-9265, Mobile: (403) 519-3912, firstname.lastname@example.org