Sterling Energy Share Discussion Threads

[tarlok] 06/1/2018 08:48

Nice to see someone positive yesterday with there money and buying nearly £15000 worth of shares ( 100000 @ 14.9 p )

[melodrama] 05/1/2018 15:33

Takes a lot to kick this pos into action, so i'll go back to sleep for now lol

[melodrama] 05/1/2018 15:33

Aye, Cayman based, CEO gone and major share transfer, been picking small amounts up as Mktcap still less than cash taking into account provisions and creds

[tarlok] 05/1/2018 15:10

So we have our answer , Zion SPC - Access Fund share price have brought the shares !

[jotoha2] 30/12/2017 17:32

It's being primed to be stripped of it's assets (cash ) they have lost money over the last 3 years with no real desire to invest in new venture , not good if you have been a long term small holder , might be worth a punt at 8p for a bounce .

[tarlok] 30/12/2017 16:18

But the million dollar ( or $4.000.000 ) question is who brought the shares ? any idea out there ?

[optomistic] 28/12/2017 10:31

It appears that YF Finance has disposed of their 36.6 million holding.

[septimus quaid] 24/12/2017 12:57

Xiggly,

Good luck with your endeavours.

SEY seem to have morphed into a strange company comprising a big pot of money with some stupidly expensive overheads and nothing much else.

This is outside my level of experience but significant shareholder rights start to accumulate at >5% holding (I presume this is why plcs make this information publicly available). Would be interesting to know if any of the main shareholders has considered calling for a GM seeking a special resolution:

"CA2006: (g) resolution of a company for winding up by the court; or for voluntary winding up."

Requires >75% of the vote which interestingly equates to the sum of the following:

Waterford Finance and Investment 29.45%
YF Finance Ltd 16.64%
Mistyvale Limited 15.66%
Denis O'Brien 7.16%
Banque Heritage 6.78%

I know from the past, being a small shareholder or even trying to establish a shareholder's action group tends to be a bit of futile exercise (although, in the past examples I can think of, there's usually not been much in the way of "value" to argue over).

What's needed is leadership from one of the big holders (Waterford would be ideal).

[xiggly] 24/12/2017 09:24

septimus

i seriously intend to phone SEY after xmas and to keep on phoning until i get thru to a " director" to try and obtain some answers as to where the company is heading and whether they have any new ventures after somaliland if somaliland all goes belly up as i suspect it will , however if s/land does come up trumps we may get part of our investment back -

Realise i will only get thru to a girl on a desk at first who will be reluctant to put my call thru to a " director " but i intend to keep on phoning and basically being a nuisance until i can finally talk to one of these clowns , intend to ask the "director" some serious questions about further where ,when ,and if further ventures are on the horizon -

check the board after xmas when i will let the forum know what i have found out -

[septimus quaid] 23/12/2017 08:00

Whilst SEY had Chinguetti income, the impact of director's salaries, operating costs, etc was masked to some extent.

Shortly, if not already, these costs will have to be borne purely by the dwindling cash pile.

Only real activity on the horizon is a proposal to drill Somaliland at the back end of next year (2018).

...and, despite all the BS, Republic of Somaliland = another basket-case "quasi-state"

So, even if SEY discover the world's biggest ever oil find, there will undoubtedly be a massive political/legal wrangle trying to monetise the situation.

Otherwise, it looks like we (the shareholders) are drinking at the last chance saloon*.

* the only other option I can see is for the shareholders to force a vote re winding up the company but I suspect it would be difficult to get together sufficient shareholder interest.

[xiggly] 23/12/2017 06:08

after MANY MANY MANY MANY years of this absolute horrendous misery from this disgraceful company and its completely incompetent directors where all of us have just about lost all of our money , we have to ask ourselves are we actually being cheated and conned by this disgraceful lot ,

they all draw a huge salary from our share money year after year for the last decade or more and do absolutely nothing for it whilst we private investors have lost every penny we have ever invested with them -

---------- SOMETHING IS VERY VERY VERY VERY WRONG WITH THIS COMPANY WHERE DIRECTORS CAN DRAW HUGE SALARIES WITH OUR MONEY AND DO ABSOLUTELY NOTHING FOR IT ,

WAKE UP PEOPLE WE ARE ALL BEING TAKEN FOR A RIDE WITH THIS LOT AND THEY WILL JUST CONTINUE TO DRAW THERE HUGE SALARIES ON OUR MONEY UNTIL THE COMPANY IS FINALLY WASHED UP FINISHED !!!!!!!!!

[optomistic] 21/12/2017 16:51

...he will be sadly missed, must see where he goes next...should be good for a short!

[septimus quaid] 21/12/2017 15:27

SEY CEO Eksil Jersing has resigned.

You only have to look at his LinkedIn profile to see he was never going to be a stayer.

During his three year’s tenureship, the share price has done nothing but collapse further.

[septimus quaid] 18/12/2017 23:14

29/01/18 will be the 5th anniversary since SEY withdrew from Kurdistan.

Apart from a load of verbiage, not a sausage since.

...and in that time the shareprice has dropped from 40p to 13p.

[baner] 15/11/2017 09:06

Wantmore

Please go and see your therapist, urgently! And/or stop drinking for lunch.

[wantmorethan24p] 02/11/2017 16:30

SELL,SELL,SELL

[wantmorethan24p] 02/11/2017 16:29

1 MINUTE TO SELL

[septimus quaid] 01/11/2017 14:10

Just keeping an eye out but I wonder if the present board will achieve a new share price low (beating the previous record of 12.25p on 07/12/15)?

Retired now but if I'd been as poor as this lot, in my former profession, I would have been sacked.

[dave-w] 30/10/2017 17:26

How would the directors pay themselves if they did that honourable thing???

[888icb] 25/10/2017 21:55

Yes for many years but unfortunately the Directors still take salaries. One of the most disgraceful companies on the market. They sit on a massive pile of cash which is not reflected in the sp,which they should return to shareholders as they are not investing it.

[roks] 25/10/2017 19:35

Is SEY in hybernation?

[happyholder123] 09/9/2017 11:35

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!