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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sterling Energy Plc | SEY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 16.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 16.50 | 16.50 |
| Top Posts |
|---|
Posted at 23/5/2021 16:51 by hsfinch Just as the Ford Motor Co got going, a disgraced former big horse n cart co executive took over a small horse n cart co and promised to make investors rich. His big idea...to recycle the horse dung. That's McDade in 2021. |
Posted at 05/3/2021 09:34 by hsfinch McDade was known as Boy Wonder at Tullow. Presumably Heavey was Batman...some caped crusader when you consider what he did for investors. And Cloak was known as the magician's apprentice. The magician being McCoss who was known ironically as Merlin. McDade made numerous poor calls at Tullow. And his reputation was tarnished in the end. Cloak and McCoss wasted billions on failed exploration. What they might have going for em this time is the ambition to prove the naysayers who sacked em were wrong and maybe they learned some lessons. But oilie execs tend to have big egos so they need to be watched very carefully. On the other hand, SEY was going nowhere and the two of em might pull something out of the bag. On balance..worth a punt. |
Posted at 28/2/2021 19:23 by concerned_of_bagshot I'm not a big SEY investor, but latest exec appointments have raised an eyebrow. TR1s show McDade didn't buy a seat at the table so it begs the question why [add your own choice of words here]. His track record is clear. Don't know about Cloak did he deliver anything at Tullow with their behemoth exploration budget?Both subject to shareholder vote but have to assume it's a done deal. |
Posted at 19/2/2021 09:03 by chesty1 The Company understands that a number of institutional and high net worth investors have agreed to purchase the shares being sold by Waterford and Mistyvale. Following the sale, neither Waterford nor Mistyvale will hold any interest in any ordinary shares in the Company.The company understands that the mm's will take on the stock & dump it into pi's hands over the coming months! Why not state who has picked em up that's a huge chunk....not sure! |
Posted at 18/2/2021 19:02 by excellance Interesting move, institutional shareholders flogging off their large holdings to "high net worth" investors, and appointing two new directors.Presumably they have a plan, and the choice was take our money or no deal. Oil is now rebounding, despite the Biden green deal, and money is going back into black gold. |
Posted at 22/5/2020 18:35 by excellance well, we don't know what goes on behind closed doors, but excluding a blue sky deal investors should be aware that they may potentially face a lengthy wait.However, with credit suisse holding firm and YF taking a stake maybe something is about to happen? |
Posted at 26/7/2019 06:47 by ohisay More cut and paste - the deadest of dead money if you're an investor here. |
Posted at 28/3/2019 10:40 by zengas 13 years is a long time to sit on a share that is still tradeable and fully listed.Forget about pinning hopes on Somaliland if that's your only reason to hang on. Incompetent Clowns ? - management come and go. The key investors made a lot of money for stale and struggling Emerald Energy shareholders in a similar position to which you find yourself in. They acquired an asset, found significant oil which they then sold for 25x upside. Black and white issue is $46.3m/£34m cash and a reduced forecast cash burn of circa $2.55m for this current year. Many companies would be crying out for that sort of cash at a m/cap of £24m without having to dilute themselves to raise that sort of cash. They are more than capable of acquiring a production asset. The thing is good assets aren't just laying around everywhere to be picked up at the right money and when you get into the due diligence process of something that looks attractive, no one knows what legal minefield or delays are encountered to securing or then dismissing that asset and having to restart the process. Hague and London announced a similar strategy in May 2016 (having previously lost out a year earlier to an acquisition that Conrad Petroleum snapped up) then announced an acquisition target in May 17 and completed it 18 months later in Dec 18. Likewise Savannah Petroleum working on a deal that has taken stages of almost 2 years now while having to abandon a previous acquisition target a year before that. Sey hope to execute a deal by mid year in the recent presentation and 2 days ago reiterated that as being in the near term. It's not in their interests to do nothing given the shareholder base and the cash pile. |
Posted at 26/3/2019 13:03 by zengas cash don't know if you remember een - I was invested in it for a good few years and one of the most absolute dogs re performance until Waterford came along and invested in EEN with new assets and the old remaining. They achieved a minimum 25 bagger return when they sold it in a few years.They carried over some of the een people from memory and farmed out Sangaw in Kurdistan while reaching over a 160p share price on the same number of shares as there is now. It flopped and they were left with a range of high risk exploration and a producing field that was marginal with too many irons in the fire. There's been a change of personnel but I don't think you will see the main investors depart such as Waterford as this is still an ideal investment vehicle with no asset baggage other than a free carry to 1st well on the massive Odewayne licence. When they came into Emerald they didn't change names or anything as it was the quality of the asset that they brought at the time that delivered. As was then in een, as there is now in Sey, many investors/holders were/are stale and basically the sentiment at Sey now is a mirror image back in the old een days. If 2P/2C is introduced here it could be transformational rather than all high risk exploration. |
Posted at 26/3/2019 12:32 by cashandcard Zengas,A brilliant summary. I think the cash position gives them options but I really do not understand what they have been doing for years now. I would look favourably at a clear out of the old team and also rebranding is needed (new name etc) to attract new investors who are not troubled by the past. Sometimes the reason a discount to cash happens is because of lack any credibility left with the current guys in place, that's the price current holders are bearing for past failure. Cash |
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