Sterling Resources Reports Wider Q1 Loss
Sterling Resources Ltd. (SLG.V), an international oil and gas company with exploration and development assets in the UK, Romania, France and the Netherlands, said for the three months ended March 31, 2013, it recorded a net loss of $8.9 million ($0.04 per share) compared with a net loss of $7.6 million ($0.03 per share) for the three months ended March 31, 2012. It said this larger loss is mainly attributable to $2.0 million of costs related to a short-term loan used as bridge financing during the first quarter and to $1.6 million of one-time banking and professional fees associated with procurement of additional funding.
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