The Offer removes the risk to shareholders from Sterling's near-term and long-term need for significant capital expenditures, which could result in numerous, potentially dilutive and uncertain financings to bring the Company's projects to completion. Vitol Anker is prepared to immediately enter into further discussions with the Company to provide additional interim financing for the period whilst the Offer is outstanding.Additional Information to the Offer Vitol Anker has received support for the Offer from Sprott Asset Management LP (" Sprott"), which holds approximately 9.9% of the Shares. Sprott and Vitol Anker have entered into a lock-up agreement under which Sprott has agreed to tender its Shares to the Offer, subject to certain conditions. The Offer will be subject to usual and customary conditions such as confirmatory due diligence including an assessment of the current liquidity position of the Company, receipt of all required approvals and consents, and that not less than that number of Shares, which together with the Shares directly or indirectly owned by Vitol Anker or its affiliates, constitutes at least 66 2/3% of the Shares be deposited under the Offer and not withdrawn. The Offer constitutes an "insider bid" under applicable securities legislation, which requires, among other things, that a formal valuation be prepared under the supervision of the Sterling Board. The Offer will commence by way of a formal offer and take-over bid circular to be mailed to shareholders as soon as Vitol Anker receives such formal valuation. Vitol Anker looks forward to Sterling's co-operation with the timely preparation of the formal valuation to allow shareholders of Sterling to realize immediate value and liquidity from the Offer. The Offer will be made by Vitol Anker which, along with its affiliates, currently holds approximately 14.0% of the Shares. Further details concerning the Offer will be included in the formal offer and take-over bid circular. The Offer will be open for acceptance for at least 35 days following the commencement of the Offer, subject to Vitol Anker's right to extend and vary the Offer as permitted under applicable securities legislation. Vitol Anker has retained Credit Suisse Securities ( Europe), Ltd. as its financial advisor and Norton Rose Canada LLP as its legal advisor. About The Vitol Group The Vitol Group was founded in 1966 in Rotterdam, the Netherlands. Since then the company has grown significantly to become a major participant in world energy markets and is now the world's largest independent energy trader. Its trading portfolio includes crude oil, oil products, LPG, LNG, natural gas, coal, power, metals and carbon emissions. The Vitol Group trades with all the major national oil companies, the integrated oil majors and the independent refiners and traders. Further details on The Vitol Group are available on www.vitol.com. Press Release for Informational Purposes Only This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. The solicitation and the offer to buy the shares will be made only pursuant to the separate formal offer and take-over bid circular and other related documents.