Sterling Energy Share Discussion Threads

[puffin1] 20/4/2016 16:26

Second that, why in these times can they not put together a deal for SEY ?

[888icb] 18/4/2016 00:16

Just to put the scale of the directors failings into context SEY has a market cap of £36.5 million but it has cash in the bank of £69 million. Essentially its market cap is covered twice by cash and it has some assets. This has been the case for years and in my opinion it is disgraceful that directors can remain in office in such circumstances. If they can't invest it they should return it to the shareholders.

[888icb] 18/4/2016 00:01

It has had a small move north in the last couple of days. Spring has arrived and perhaps this year the directors will come out of hibernation and actually do something other than collect their totally unearned salaries. Based on the last several years don't hold your breath!

[septimus quaid] 13/4/2016 18:37

Somethin' stirin'?

[optomistic] 06/4/2016 13:22

7mill buy and possibly 6.8mill as well.

[billy two cocks] 06/4/2016 13:09

Biggest volume for a good while.

[optomistic] 23/3/2016 10:59

Buyers this morning!!!

[septimus quaid] 16/3/2016 02:50

The Chingquetti production has, until now, helped preserve SEY's (our) pot of cash.

As this source of income rapidly declines, the pot of cash is being used to fund operational costs which, in itself, will also now rapidly dwindle.

SEY have virtually no chance of making a significant oil discovery before the cash pot reduces to nothing.

At this stage, would SEY not be better off just reducing its staff to a bare minimum, complete its commitment to plug and abandon Chingquetti and, on the basis of "there is no realistic chance of returning value to shareholders", dissolve itself?

[septimus quaid] 14/3/2016 10:06

They seem to be burning up the cash reserves at a rate of knots, $10m in one year.

Plus the Chingquetti income, where is all the dosh going?

[thecynical1] 14/3/2016 07:33

seriously enlightening results........looks like they just keep backing the wrong horse..... jmo!

[888icb] 12/2/2016 21:02

One has to wonder whether the board are still alive. It's a total disgrace that they continue to draw a salary. If they are so lacking in ideas they should give us our money back as it is a lot more than the current share price

[puffin1] 12/2/2016 18:53

You would think in the present climate there would be some good buys out there or deals to be done as OIL is far from finished .

[septimus quaid] 22/1/2016 06:36

Only 93% down on my investment!

It all started to go wrong when the much hyped Chinguetti production failed to deliver. The overall geology was poor and, although it became a steady producer, it was far less prolific than projected.

Maybe my 93% loss is about right for this kind of investment:

remote chance of discovery/becoming a producer (16%) x sh*t hole of a country (50%) x poor AIM regulation (90%) = 7%

Once Chinguetti production is finally wound down, maybe the board should just cash in their chips and redistribute what's left to shareholders?

Although the present board might argue that what went on in the past is nothing to do with them and, as far as they're concerned, it's "clean sheet" time?

[septimus quaid] 21/1/2016 06:51

The share consolidation/fund raising took place in Dec 2009 and SEY have been sat on their "cash pile" ever since.

However, with the current price of oil/state of the markets, I think the "do nothing" strategy has not been a bad one.

[888icb] 20/1/2016 21:44

I think they passed on long ago. What we need is the resurrection and it's not long until Easter!
If they are still alive perhaps they could give us a sign or a detailed account of their movements since 2009.

[puffin1] 20/1/2016 21:37

There must be some good Deals out there for cash , are our board still alive ?

[flyingbull] 02/1/2016 19:42

The monthly oil stock competition for January 2016 as well as the 2016 annual oil competition are still open for entries. Deadline for entries for both competitions is midnight this Sunday, 3 January 2016.


Happy and Prosperous New Year to All!!!

fb

[jotoha2] 17/12/2015 14:06

Very happy to take 1/2 million @ 10p , was quoted 17p , cheeky barstewards.

[optomistic] 17/12/2015 11:54

SPROTT ASSET MANAGEMENT disposes of just over 4 million shares...I wonder where they placed them, perhaps we will get another RNS filling in that info in the next day or two?