Sterling Energy Share Chat (SEY)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Sterling Energy	LSE:SEY	London	Ordinary Share	GB00B4X3Q493	ORD 10P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.05p	-0.44%	11.25p	11.00p	11.50p	-	-	-	13,091	16:35:17

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	3.3	-6.7	-3.0	-	24.76

Sterling Energy Share Discussion Threads

Showing 33001 to 33023 of 33025 messages

Chat Pages: 1321 1320 1319 1318 1317 1316 1315 1314 1313 1312 1311 1310 Older

Date	Subject	Author	Discuss
11/10/2018 09:41	Yes, to my mind, Chinguetti has turned out to be a pointless exercise (well, from a shareholders’ perspective anyway, do doubt the directors and other hangers-on have done ok)	septimus quaid	Read Full Thread Reply
11/10/2018 09:20	Thanks Septimus..Well that's cleared up where the money went. That enormous figure must ave taken care of a lot of the past oil sales.	optomistic	Read Full Thread Reply
10/10/2018 20:43	Mauritania Chinguetti oil field (Deed of Termination January 2018) As of 26 January 2018, in light of the cessation of production from the Chinguetti oil field, the Company, the Government of Mauritania and SMHPM agreed to terminate the Funding Agreement ('Deed of Termination'). The Deed of Termination provides for a payment (made on 26 January 2018) by Sterling to the Government of Mauritania and SMHPM of a fixed sum of $32.6 million to settle any and all claims under the Funding Agreement, including Sterling's obligation to pay for its share of abandonment and decommissioning ("A&D") costs and outstanding 2018 operational expenditures. As a result, Sterling has no residual exposure to the A&D costs for the Chinguetti oil field. hTTp://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13617206.html	septimus quaid	Read Full Thread Reply
10/10/2018 15:38	Some did but surely not $37 mill?	optomistic	Read Full Thread Reply
10/10/2018 11:27	did the cash not go towards exiting Chinguetti?	septimus quaid	Read Full Thread Reply
10/10/2018 09:11	Looks more like $37 mill not $20...must be in the accounts somewhere (I haven't time to delve this morning)	optomistic	Read Full Thread Reply
10/10/2018 07:50	What have they done with nearly $20 in the last year, surely they couldn't have trousered this amount among them selves	nickiegaul	Read Full Thread Reply
10/10/2018 07:49	Sterling Energy PLC Interim Management StatementSource: UK Regulatory (RNS & others)TIDMSEYRNS Number : 4894DSterling Energy PLC10 October 201810 October 2018INTERIM MANAGEMENT STATEMENTSterling Energy plc (the 'Company' or 'Sterling') together with its subsidiary undertakings (the 'Group') is today issuing its Interim Management Statement and financial results for the third quarter ended 30 September 2018. All figures are unaudited unless stated otherwise.Operations -- Odewayne block, Somaliland; trial line 2D processing ongoing. -- Dialogue continues between the Joint Venture ('JV') partners on developing the technical understanding of the block.Financial-- Net cash (zero debt) to the Group as at 30 September 2018 of $46.6 million (30 September 2017: $83.1 million).-- Adjusted Earnings before Interest, Tax, Depreciation and Amortisation and Exploration Expense ('EBITDAX') loss for the Group of $313k (Q3 2017: $1.4 million loss). -- Loss after tax of $306k (Q3 2017: $4.3 million loss). Corporate-- Appointment of GMP FirstEnergy as the Company's co-broker, with immediate effect. GMP FirstEnergy's Oil and Gas expertise, experience and capabilities in research and capital markets will benefit the Company's continued drive to a material M&A transaction.Chief Executive Officer's Statement"Technical understanding of the Odewayne exploration block continues, with the initial 3 trial seismic lines increasing the imaging quality. Discussions with the JV on the progression of the block are ongoing and updates will made at the appropriate time.Since my appointment in June, Sterling has progressed its efforts on securing a material M&A transaction. The appointment of GMP FirstEnergy as co-broker, coupled with the engagement of Pinsent Masons, adds to strengthen Sterling's ability to achieve the mandate.We have a clear strategy and can move quickly and decisively for the right opportunity, leveraging our full cash balance of ca.$47 million and technical capabilities to good effect. We remain very focused on finding a suitable acquisition.In line with other AIM companies, the Board has decided that its regular market updates will continue in conjunction with publication of its annual and interim financial statements. Given the Company's obligation to keep the market immediately updated as material events occur, it was concluded that going forwards there was little benefit from continuing to provide quarterly updates (for Q1 and Q3)."Somaliland - Odewayne (WI 34%) Exploration blockOverviewThis large and unexplored frontier acreage position comprises an area of 22,840km(2) , the equivalent of approximately 100 UK North Sea blocks. Exploration activity prior to the 2017 regional 2D seismic acquisition program has been limited to the acquisition of airborne gravity and magnetic data and surface fieldwork studies, with no wells drilled on block.The Company's wholly owned subsidiary, Sterling Energy (East Africa) Limited ('SE(EA)L'), holds a 34% working interest in the PSA. SE(EA)L originally acquired a 10% position from Petrosoma Limited ('Petrosoma') in November 2013 and an additional 30% from Jacka Resources Somaliland Limited ('Jacka') in two transactions during 2014.In April 2017, the Company agreed to revised farm-out terms to reduce the staged contingent consideration payments due to Petrosoma and reduce SE(EA)L's interest in the Odewayne asset by 6%. The farm-out agreement was amended such that the parties cancelled the $8.0 million contingent consideration in return for: (i) a payment by SE(EA)L to Petrosoma of $3.5 million; and (ii) a transfer from SE(EA)L to Petrosoma of a 6% interest in the PSA. Post Government of Somaliland approval, SE(EA)L holds a 34% interest in the Odewayne Block, fully carried by Genel Energy Somaliland Limited ('Genel Energy') for its share of the costs of all exploration activities during the Third and Fourth Periods of the PSA.In June 2017, the Somali Government (Ministry of Energy and Minerals) contracted BGP (Geophysical contractor) to undertake a 1,000km (full fold, 1,076km surface) 10km by 10km, 2D seismic campaign, to both satisfy and exceed the 500km minimum work program for the current Third Period. This acquisition program was undertaken over the basinal areas identified from the potential fields (gravity and magnetic) legacy data. The three month program was completed in late August 2017, safely and on time, with the second 500km recorded at an average of 14.5km per day.Exploration Term Period Date Work commitment Period 3 To 2 Nov-18 500km 2D seismic acquisition* Period 4 (optional) To 2 May-20 1,000km 2D seismic acquisition and one exploration well* Period 5 (optional) To 2 May-21 500km 2D seismic acquisition and one exploration well Period 6 (optional) To 2 May-22 500km 2D seismic acquisition and one exploration well 6(th) Deed of Amendment (dated August 2016) in place which allows for the extension to Period 3 beyond 2 November 2018, thus extending all subsequent Periods accordingly.* Sterling is fully carried by Genel Energy for its share of the costs of all exploration activities during the Third and Fourth Periods of the PSA.OutlookIn November 2017, Sterling undertook an integrated geological review of the basic post-stack processed 2D dataset provided by the Operator Genel Energy. Following encouraging technical indications, the Company then undertook a highly focused and rigorous processing effort, independent of the Operator, with the primary technical objective of improving the deeper subsurface image. An initial 3 seismic lines of approximately 235km in length have now been processed to a full pre-stack time migrated dataset. This new processing has resulted in a material increase in the subsurface imaging quality, and technical work is underway to integrate this new insight into our technical understanding of the block. The option to process the remaining 765km (13 lines) of data remains in place and the decision to progress to this second phase is currently under review while the deliverables are being assessed. This workflow will allow for an informed technical and commercial perspective on the block in 2H 2018.Financial SummaryIn the period, the Group reports the following results: Q3 2018 Q3 2017 FY 2017 (unaudited) (unaudited) (audited) $ '000 $ '000 $ '000 ------------- ------------- ----------- Revenue (1) - 1,771 4,433 Adjusted EBITDAX (2) (313) (1,377) (5,926) Loss after tax (306) (4,261) (9,000) Net to Group - cash and cash equivalents at period end 46,589 83,058 81,365 ============= ============= =========== (1) Revenue derived from income relating to interests in the Chinguetti field.(2) Adjusted EBITDAX are (losses)/earnings before interest (plus other finance income and expense), tax, depreciation, depletion, amortisation, provisions and write-offs of oil & gas assets. Adjusted EBITDAX also excludes pre-licence award exploration costs and share based payments; the latter being a non-cash expense charged to the income statement under IFRS 2.For further information contact:Sterling Energy plc +44 (0) 20 7405 4133David Marshall, Chief Executive OfficerMichael Kroupeev, ChairmanPeel Hunt LLP +44 20 7418 8900Richard CrichtonJames Bavisterwww.sterlingenergyplc.comTicker Symbol: SEYThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDMSCZMMGGMLDGRZZ(END) Dow Jones NewswiresOctober 10, 2018 02:01 ET (06:01 GMT)	nickiegaul	Read Full Thread Reply
05/9/2018 16:38	Strange trades - a 25 share sell followed by a 35,000 sell followed by another 1share buy.	storming norm	Read Full Thread Reply
05/9/2018 14:54	1 share purchased today and the share price goes up 5%!	storming norm	Read Full Thread Reply
05/6/2018 17:49	Guys you really need to check out COPL currently to buy 0.55p. A potential to be a multi baggar.It tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company. Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset. The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil. When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true. What is holding the share price back presently is NNPC approval. $60m was spent on this asset by the previous operator.the potential for Copl is huge. I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m) Copl management wants it to be a mid tier oil and gas company ie £250m-£500m All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE.	nicky21	Read Full Thread Reply
25/4/2018 08:05	Interim management statement out today: hTtp://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13617206.html Just looking back, in 2014, SEY had $121 million (of our money) cash in the bank and now they have a paltry $47.3 million. It has cost a ludicrous amount of money for SEY to extricate itself from Mauritania (SEY's share $32.6 million, great negotiating when all you are doing is blowing other folk's money). After all these years, I'm not even sure what Mauritania actually achieved, apart from underpinning the company's excessive operating costs. Unless there's some kind of wildcat miracle, I can see the cash reserves dwindling down to zero in the next few years and that will be the end of that. In which case, despite everything that has happened in the meantime, at the first sign of the Chinguetti operational problems in 2006, and from a shareholder's perspective, SEY were effectively bust.	septimus quaid	Read Full Thread Reply
26/3/2018 14:42	Ok ,it is worse ...peel hunt says "add" and price target now only 15.5p today	tarlok	Read Full Thread Reply
26/3/2018 11:35	Xiggly, spot on IMO	roguetreader	Read Full Thread Reply
23/3/2018 07:37	Thanks for results.....only good bit for future growth,,, "Numerous technically sound and material upstream opportunities have come to the market and were pursued by our team during 2017. No deals were concluded in the year, although due diligence is ongoing on a number of opportunities. " and the cash on hand of approx £35,000,000 .	tarlok	Read Full Thread Reply
22/3/2018 20:05	Full Year results out today, for year ending 31/12/17, earlier than normal (although can't be much adding up to do these days). hTtp://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13576584.html	septimus quaid	Read Full Thread Reply
22/3/2018 15:23	And Peel Hunt says..... Buy 16.00 well could have been worse...again !	tarlok	Read Full Thread Reply
16/3/2018 16:35	so over a million shares traded today ....who is buying and selling ?	tarlok	Read Full Thread Reply
13/3/2018 07:12	If you really believe that anyone can drill commercially in Somalia you need medical advice,look at how much Range Resources spent it was all a scam, if some reason anyone found anything the warlords/ Govt gangsters will take it off them the only decent thing to stop the directors ripping off more money is to liquidate the company and distribute the cash.	thetoonarmy2	Read Full Thread Reply
09/3/2018 15:56	Not much good news ,but looks like a buy 11:23:38 13.2500 587,848 price 12.6000 bid 13.7000 ask	tarlok	Read Full Thread Reply
09/3/2018 13:06	A 587K buy this morning, does someone know more that the most of us? Then as the share price is down a touch...is it a misreported sell.	optomistic	Read Full Thread Reply
05/3/2018 19:31	The main forward-looking activity seems to be: "The Odewayne [Somaliland] part of the Government sponsored 2D seismic program commenced in early June 2017 and the acquisition of 1,000kms full fold data was completed on the 24 August 2017. This part of the campaign satisfies and exceeds the minimum (500km) work obligation for the current Third Period, for which Sterling is fully carried by Genel for all costs. The Company expects final processing results in late Q4 2017 to Q1 2018 and will thereafter complete its own technical evaluation of the data." So perhaps we will hear something about this soonish???	rrr	Read Full Thread Reply
05/3/2018 17:44	Sadly it doesn't look very good to me. Nothing positive for ages.	rrr	Read Full Thread Reply

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