SEY

Aim-listed Sterling Energy (SEY:AIM) has decided to sell off its business in the US following a strategic review. Sterling will use the proceeds, which analysts expect to be £150 million, to reduce debt and fund exploration in Africa and the Middle East – with particular focus on Kurdistan and Madagascar. Evolution Securities analyst Keith Morris says success in the former could be worth 20p a share and the latter 50p a share, while the stock currently trades at just 8.6p.

Shares says: The deal will help initiate exploration in two highly prospective regions. TS

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