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SLG Sarantel A

0.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sarantel A LSE:SLG London Ordinary Share GB00B9MRZS43 'A' ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.30 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Sarantel Share Discussion Threads

Showing 2826 to 2846 of 2875 messages
Chat Pages: 115  114  113  112  111  110  109  108  107  106  105  104  Older
DateSubjectAuthorDiscuss
02/4/2014
17:04
Just ploughing through AMEC's annual report in preparation for their AGM tomorrow. Interested (& pleased) to note that AMEC made losses on the TGPP contract - so it wasn't just Sterling that suffered from that one. I will ask what went wrong tomorrow. ;0)

I hold considerably more AMEC shares (by value) than Sterling. They don't usually mess up so badly and generally make a hod of money.

Cheers,

Mark

marben100
13/3/2014
09:23
SLG - Sterling Resouces New Presentation

Sterling Resources Ltd. (TSX-V: SLG) is pleased to announce that it will be presenting today at the Pareto Securities E&P Independents Conference in London, England. The presentation is available for viewing on the Sterling Resources website at

dukedosh
19/2/2014
22:08
I cannot find anything in the December 2013 news release that mentions lower guidance for Breagh either. Here's what I have:

From the 3Q13 interim report, dated 30.09.13:
Average production in 2014, including the contribution from the eighth well, is now expected to be approximately 129 million standard cubic feet per day ("MMscf/d")(39 MMscf/d net to Sterling) with an exit rate at the end of 2014 of 114 MMscf/d (34 MMscf/d net to Sterling).

From the RNS dated 13.01.14:
Expected production guidance for 2014 remains 129 MMscf/d for 100 percent of the field (39 MMscf/d net to Sterling), as previously announced on November 20, 2013.

And here's the December 30, 2013 RNS in full - there's nothing about it there:

STERLING RESOURCES ANNOUNCES RESTART OF PRODUCTION FROM BREAGH

Calgary, Alberta, Canada, December 30, 2013 – Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") is pleased to announce the restart of Breagh production on December 27, 2013. This follows a period of approximately seven weeks shut-in as a result of a significant production incident on November 7th, as reported earlier. The investigation into the production incident continues with an expected completion date at the end of January 2014. However, interim feedback from the investigation has identified the necessary actions to permit production restart and continuation of re-commissioning activities following the replacement of the barred tee-junction and various other repairs to the inlet to the gas plant.

Initial production rates from the field will be variable as these commissioning activities progress. In addition, a two day planned shutdown is scheduled for the first week of January 2014 to allow the Ensco 70 drilling rig to move off location and transfer to a shipyard for necessary work required as part of normal marine certification requirements.

Breagh well A07 has been drilled to total depth having encountered reservoir sands in accordance with prognosis. The well has been suspended with the completion tubing run and the Xmas tree set. The Ensco 70 rig is scheduled to return early in the second quarter of 2014 to bring the A07 well into production using hydraulic stimulation, before completing the Phase 1 drilling program by drilling an additional production well A08. Completing well A07 using hydraulic stimulation is planned to provide enhanced production to Phase 1, while also providing valuable information to support Phase 2 investment decisions.

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 Toronto Stock Exchange Venture (TSX-V) exchange 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.

Forward-Looking Statements

All statements included in this news release that address activities, events or developments that Sterling expects, believes or anticipates will or may occur in the future are forward-looking statements. In addition, statements relating to expected production, reserves or resources are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions that the reserves and resources described can be profitably produced in the future.

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 news release. Sterling does not intend and does not assume any obligation to update these forward-looking statements except as required by law.

Financial outlook information contained in this news release about prospective results of operations, financial position or cash flows is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. Readers are cautioned that such financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein.
For further information:

Jacob Ulrich - Chairman and Interim Chief Executive Officer
Phone: +44 20 3008 8485, Cell: +44 7876 346 399
jake.ulrich@sterling-resources.com

David Blewden - Chief Financial Officer
Phone: +44 20 3008 8489, Cell: +44 7771 740 804
david.blewden@sterling-resources.com

George Kesteven - Manager, Corporate and Investor Relations
Phone: +1 403 215 9265, Cell: +1 403 519 3912
george.kesteven@sterling-resources.com

dukedosh
19/2/2014
21:48
Trouble is if it was announced in december why did the january presentation imply it with the 39MMscf/d eg 30% of 129.
lonrho
19/2/2014
21:29
This had been announced already in December its nit new news check the rns
loglorry1
19/2/2014
21:08
The Company now expects an average gross production rate for 2014 of 106 to 112 MMscf/d (32 to 34 MMscf/d net to Sterling), below the previous guidance of 129 MMscf/d.
This revised guidance for 2014 is attributable to a number of factors including (1) the drilling and completion of wells A07 and A08 later than previously envisaged, (2) a slower than forecast ramp up to full rates for each of the individual wells, and (3) the short-term impact of remaining commissioning activities.
The gross production rate at the end of 2014 is now forecast to be 118 MMscf/d.

Typical SLG - 20% lower Breagh output - I suppose we should be thankful for small mercies.

ohisay
19/2/2014
09:35
Sterling Resources announces management, board and operational update



Highlights:

No surprise that to me that the interim CEO has been given the job.

Breagh production looks steady and reliable at last but guidance has been revised a tad lower with the delay of the two scheduled development wells to June and Sept 2014.

Romania is progressing with the earlier than expected 3D completion which could be wrapped up by end of 2014.

Reserves for YE Dec 2013 expected to be reported by end of March 2014.

A bit of a mixed bag. Let's see what the market makes of it.

dukedosh
05/2/2014
21:17
Up nicely today .
Just wish the loonie had kept pace.

ohisay
30/1/2014
16:40
Sterling Resources (SLG.V): Completes previously announced sale in Romania
Sterling has completed the sale of its 65% interest in a portion of the Midia Block in the Romanian Black Sea to ExxonMobil Exploration and OMV Petrom, originally announced by Sterling on 19th October 2012. Proceeds of ~$29m are due to be received by Sterling and are subject to a 16% Romanian tax. Upon a commercial discovery, Sterling will be entitled to additional consideration of ~$29m and $19.5m on first production.

Our view: The completion of this transaction is a positive step forward for Sterling, and weexpect it continue the process to sell down equity interests in its Romanian licences. Deal completion also provides a welcome boost to the balance sheet.

Source: RBC 30 January 2014

dukedosh
29/1/2014
10:20
Sterling Resources Completes Sale of a Portion of the Midia Block in the Romanian Black Sea

CALGARY, Jan. 29, 2014 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") is pleased to announce that the sale of its 65 percent interest in a portion of the Midia Block in the Romanian Black Sea (the "Sale Portion") to ExxonMobil Exploration and Production Romania and OMV Petrom S.A., originally announced by Sterling on October 19, 2012, (the "Carve-out Transaction") has been completed. Proceeds of US$29.25 million are due to be received by Sterling within seven days and are subject to Romanian profits tax at a rate of 16 percent. In the event of future exploration success on the Sale Portion, Sterling will be entitled to further proceeds of US$29.25 million upon a commercial discovery being made and an additional US$19.5 million upon first production from the Sale Portion.

"We are very pleased to see the finalization of this significant transaction," stated Jake Ulrich, Sterling's Chairman and Interim CEO. "The net proceeds will be used to bolster the balance sheet by providing an additional cash buffer. In addition, completion of the transaction will allow us to move ahead again with a process to sell down our equity interests in all of our Romanian licences. This process had been held up in 2013 by the delay in being able to complete the Carve-out Transaction," added Mr. Ulrich.

At last.

lowersharpnose
07/1/2014
21:08
Up 10% today - presumably Ingalls buying impressing ..



Another company enjoying some insider buying is Sterling Resources Ltd. (SLG), down three cents to 62 cents. From Oct. 1 to Jan. 3, Ingalls & Snyder LLC bought 2.89 million shares, boosting its position to 36.1 million of Sterling's 309 million shares. Sterling has had a roller-coaster couple of weeks. On Dec. 27, it restarted production at its Breagh gas field in the North Sea, ending a seven-week shut-in because of mechanical problems at the onshore processing plant. There is still no word on exactly what went wrong, but Sterling hopes the investigation will be finished by the end of the month. This is far from the first problem Sterling has suffered at Breagh. This time last year, the company was barely hanging on. It took out a $12-million (U.S.) stopgap loan from a shareholder, Vitol, which then made a takeover offer. Amid much hubbub and name-calling, Sterling rejected the offer, figuring it just needed to stay afloat until the end of March, when it planned to begin production at Breagh and finally start collecting revenue. That date was pushed back again and again. Finally, Breagh started production in mid-October -- only to be shut in a month later. Then, in mid-December, Mike Azancot left as a director. He had been CEO from May, 2010, to August, 2013, and although he had helped raise millions of dollars for Sterling, his reliance on equity financings was a source of bitterness for shareholders such as Vitol. (Under his leadership, Sterling's share count went to 309 million from 132 million.) Jake Ulrich, a former Centrica Energy man liked by Vitol, took over as interim CEO and is still there now.

Now that Breagh is operating again, Sterling expects -- at long, long last -- to start generating some real cash flow. It expects the field to produce an average of 39 million net standard cubic feet a day in 2014. Investors do not seem particularly confident, but Sterling is a survivor. It listed in 1997, and before that, it traded for 17 years as Peoples Oil Ltd.

ohisay
01/1/2014
11:03
You want my shares, Simon, you will have to pay a bit more than this!
greyingsurfer
31/12/2013
20:20
The deadcatter gives you a chance to exit, good citizens consider grabbing it with all three arms
simon seif
30/12/2013
21:30
Just a cent up on this news with no volume. The market must be on holiday still!
dukedosh
30/12/2013
09:36
CALGARY, Dec. 30, 2013 /CNW/ - Sterling Resources Ltd. (TSXV: SLG) ("Sterling" or the "Company") is pleased to announce the restart of Breagh production on December 27, 2013. This follows a period of approximately seven weeks shut-in as a result of a significant production incident on November 7th, as reported earlier. The investigation into the production incident continues with an expected completion date at the end of January 2014. However, interim feedback from the investigation has identified the necessary actions to permit production restart and continuation of re-commissioning activities following the replacement of the barred tee-junction and various other repairs to the inlet to the gas plant.

Initial production rates from the field will be variable as these commissioning activities progress. In addition, a two day planned shutdown is scheduled for the first week of January 2014 to allow the Ensco 70 drilling rig to move off location and transfer to a shipyard for necessary work required as part of normal marine certification requirements.

Breagh well A07 has been drilled to total depth having encountered reservoir sands in accordance with prognosis. The well has been suspended with the completion tubing run and the Xmas tree set. The Ensco 70 rig is scheduled to return early in the second quarter of 2014 to bring the A07 well into production using hydraulic stimulation, before completing the Phase 1 drilling program by drilling an additional production well A08. Completing well A07 using hydraulic stimulation is planned to provide enhanced production to Phase 1, while also providing valuable information to support Phase 2 investment decisions.

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 Toronto Stock Exchange Venture (TSX-V) exchange under the symbol "SLG".

mcdougall1
29/12/2013
01:07
Will the last one to leave please switch off the lights

Show me where the lying old rhizomes grave is and I'll spend a penny there next time I pass

simon seif
16/12/2013
01:10
No, only because I dont want to give the old farts name in public, let his family be, whats left of their money that he didnt squander on aim dogs could be claimed by all who lost money believing his online ramping. If you know his name, google surname Runcorn Obituary
simon seif
14/12/2013
18:32
Would you post a link to the obituary please?
lowersharpnose
14/12/2013
18:20
Or the syphilis, LOL!!
simon seif
05/12/2013
22:32
New thread
stockologist
05/12/2013
20:00
From Proactive Investors today:

"Former communications technology firm Sarantel (LON:SLG) is being re-launched by AIM dealmaker David Lenigas, to focus on onshore oil and gas projects in the United Kingdom.

Sarantel, which made specialist GPS products, was suspended on the AIM market in May and in October the business's assets were sold by administrator PriceWaterhouseCooper, and subsequently a new investment policy was adopted for what effectively became a shell company.

Today, the company, which will be renamed UK Oil & Gas Investments, announced it would raise £200,000 to support its pursuit of onshore oil and gas opportunities in the UK."

For those of you interested in following the new entity see ticker UKOG.

plunge
Chat Pages: 115  114  113  112  111  110  109  108  107  106  105  104  Older

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