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Sterling Energy plc, the AIM listed oil and gas exploration company (AIM: SEY), announces that its wholly owned subsidiary, Sterling Energy (UK) Limited, has issued a notice of withdrawal from the Ambilobe block, offshore Madagascar to its joint venture partner Pura Vida Mauritius. Following the withdrawal, Sterling will cease to be the operator of the Ambilobe block. The withdrawal is anticipated to be completed by the end of July 2016.
Madagascar Oil provides the following update on the status of its operations, the Partner Process, its financial position and its funding situation, i...