Sarantel Share Discussion Threads

[stockologist] 10/11/2013 21:56

should let it go with what little dignity it could muster not be propped up by taxidermist duo

[woracle] 09/11/2013 09:29

An offer you can't refuse ;)

[topinfo] 08/11/2013 16:01

LONDON-- Sarantel Group PLC (SLG.LN), a former maker of high performance antennas for mobile devices, said Friday that it plans to become a natural resources investor after its businesses and assets were sold.


MAIN FACTS:





-Company plans to raise 150,000 pounds through a subscription of 500 million shares at 0.03 pence to settle immediate outstanding liabilities and enable the ongoing running expenses of the company to be met.





-Revenue in the half year ended March 31 was 1.49 million pounds (2012: loss GBP888,000)





-Pretax loss was GBP945,000 (2012: loss GBP1.61 million)





-Diluted loss per share 0.01 pence (2012: loss 0.2 pence)





-Debt at period end GBP249,000 (2012 cash: GBP154,000)







-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan







Order free Annual Report for Sarantel Group Plc



Visit or call [phone]



Subscribe to WSJ:

[wbodger] 16/10/2013 10:54

Thanks for reply, marben, especially about Q3.

I think his polite acknowledgement of patience of shareholders is aimed at Vitol and instis! Not watching the bbs clearly.

Tally ho. Let's have some news on Cladhan now, since TAQA are sorting out the Cormorant problems.

[marben100] 15/10/2013 15:12

The point he's making is that Breagh infrastructure could be more fully utilities by adding gas from other non-Sterling fields and/or from Breagh phase 2, which would add to Sterling's income. I presume Sterling would get a share of a tariff for processing 3rd party gas.

Breagh wasn't on stream in Q3, so don't expecting positive cashflow yet. Should get there in Q4.

[wbodger] 15/10/2013 12:16

Thanks for that, too busy watching FPM and Ithaca. Am I right in interpreting Rapach as saying SLG has not much equity left in the Phase 1 gas? Not sure why he is making that point otherwise.

Q3 figures will be closely watched. (Around November 20.) Cash flow positive after loan costs would be nice.

[marben100] 08/10/2013 15:48

Re Boothy, I understand that Encounter has an exclusive deal with Premier, so AB may not be at liberty to take up another CEO role.

Cheers,

Mark

[loglorry1] 08/10/2013 13:25

LSN see my post on TMF. The 112 was average production assuming some downtime etc.

[lowersharpnose] 08/10/2013 12:34

I hope this 22Mcf adds to the 112MMscfs of the Aug 13th release:

Initial gross production at Breagh is expected to be approximately 135 MMscf/d with five of the seven planned production wells on-stream. The average production rate for the field is now forecast to be circa 102 MMscf/d (31 MMscf/d net to Sterling) for the remainder of 2013, assuming first gas production in mid-September. This estimate reflects appropriate field uptime assumptions following production start-up of the wells and the processing plant, and compares to the previous forecast of May 21st 2013 of 170 MMscf/d (51 MMscf/d net to Sterling), which assumed an early August production start.

Total average production during 2014 at Breagh is now estimated to be 112 MMscf/d (33 MMscf/d net to Sterling). This compares to the previous forecast average production rate of 146 MMscf/d (44 MMscf/d net to Sterling).

The 112 figure is with five of the seven wells on stream and today's test was for A06.

[lowersharpnose] 08/10/2013 12:18

Sterling Resources announces Breagh well A06 test results

CALGARY, Oct. 8, 2013 /CNW/ - Sterling Resources Ltd. (TSX-V: SLG) ("Sterling" or the "Company") announces production test results for the recently completed Breagh development well A06.

The well reached a total depth of 13,173 feet measured depth at a location 2.8 kilometres south of the Breagh Alpha platform. The well test results indicate that the initial production rate for the well should be 22 million standard cubic feet per day (MMscf/d) under expected production conditions. The well is expected to be tied-in and producing before year-end 2013.

First gas production at Breagh is expected to commence shortly, with the heat exchanger issues at the Teesside Gas Processing Plant having been resolved.

I wonder what shortly means as defined in the Sterling dictionary of extensible adjectives?

[plunge] 05/10/2013 13:29

Let us not forget about the other board members who, in my opinion, are equally culpable.

[investopia] 05/10/2013 11:48

"Significant expertise in fund raising"

Can't argue with that one!

[cliffpeat] 05/10/2013 11:02

Should have added:

"Never figured out a way to make a profit for shareholders"

IMO and do your own research:)

[plunge] 05/10/2013 10:23

And now for some perverse humour - here is David Wither's CV as taken from Linkedin:

Highly Effective Leader with a Background in Corporate Development and Wireless Technology
• Proven leader with strong communication and team building skills
• Broad operational background and considerable practice managing intellectual property
• Wide-ranging international business development experience and an in-depth understanding of wireless communications
• Extensive board-level and investor relations experience with a London Stock Exchange-listed, UK-based wireless technology company
• Significant expertise in fund raising, marketing, product development and process development

What a laugh !!!

[buggy] 05/10/2013 08:20

What I don't understand is why they should not just liquidate the company.

They company will remain an shell....who in their right mind will trust this mob with their money to start in whatever fancy they deem fit after all this???


They should just wind down the whole company and take the feeding tube out of these directors' mouths. They should go and find themselve real jobs if anyone will take them. Instead they are preparing to hang on as a shell so taht they can continue feeding off the investors!!

[broncowarrior] 04/10/2013 15:44

Basically the company has been sold to pay creditors. Shareholders get nothing.

Not sure why they couldn't say who they had sold the company to.

[cliffpeat] 04/10/2013 15:40

Business sold by pwc for "an undisclosed sum" and company left with net liabilities.

How transparent. Shameful.

[wbodger] 03/10/2013 23:38

You know that it would be untrue
You know that I would be a liar
If I was to say to you
Guys, we couldn't get much higher

Come on Ruhrwehr, light my Breagh
Come on baby, light my Breagh
Try to set the night on fire

The time to hesitate is through
No time to wallow in the mire
Time now we can only lose
And our hope become a funeral pyre

Come on baby, light my fire
Come on Ruhrwehr, light my fire
Try to set the night on fire, yeah
-------------------------------------------------

This is getting boring again.

[wbodger] 30/9/2013 22:35

Yeah, we forget Breagh. He made the right risk assessment, and so did FPM and the others.

Cladhan was a great punt and it was interesting Encore didn't take part in Cladhan South.

I think he's over 65, that's all. But you can't ignore all that knowledge.

[lowersharpnose] 30/9/2013 22:09

And Breagh and Cladhan, too.

[wbodger] 30/9/2013 21:16

He's a non-exec at Ophir, but more relevantly a principal of Encounter Oil. He knows the North Sea, and he's an explorer (Buzzard and Catcher isn't a bad CV).

Depends what Sterling/Vitol see in their future. McKendrick's a good developer.

[lowersharpnose] 30/9/2013 19:57

Alan Booth is elsewhere now isn't he (after EnCore)?