Sterling Energy Share Discussion Threads

[excellance] 23/12/2020 21:17

Maybe you're not their type?

[cashandcard] 16/12/2020 16:07

Given crude oil is no longer in favour - maybe a great change of strategy - become a financial management outfit ;) Cash

[excellance] 07/12/2020 13:17

He's a bean counter, skilled in finance, with global experience and a contact book filled with centrica numbers and recently involved with the takeover of another AIM company. I think he's been approached for a specific reason by the money men. How exactly a deal of this nature will benefit SEY holders remains to be seen, but the cash in the bank must account for something, and the Somaliland assets must also have a nominal value. SEY is a recognised oil company with all of the credentials and certification even if all of those teams are long gone.

[excellance] 07/12/2020 13:11

Looks like a good plan to me.

[septimus quaid] 07/12/2020 13:02

Looking at his background, maybe that's why Hawkins has been brought in, not for E&P purposes but to cut a deal with an existing production outfit?

[excellance] 07/12/2020 11:33

Loads of opportunities for cash shells like SEY. Https://wpcluster.dctdigital.com/energyvoice/oilandgas/north-sea/284194/centrica-sell-spirit-energy/

[septimus quaid] 07/12/2020 08:38

Mr David Marshall steps down as CEO, I guess the embarrassment of raking in all that money for doing nowt got to him in the end (poor lamb)? Step up Mr Tony Hawkins. Another one with a quidzillion years of experience in the oil industry. These guys might come and go but seem to have one thing in common, knack-all luck in finding oil.

[excellance] 01/12/2020 10:15

£9 into £1,000,000 That's a story I'd like to hear!

[obmuj] 30/11/2020 21:06

xiggly - totally agree. I don't even bother to look anymore. this is a disaster and I concur with every point you have made. Strange as I have had the same feeling with Vane/Rose/now Zephyr but have actually averaged down as they have a great team leading them now. As for SEY I can't even be bothered to sell and don't even live in hope of recouping anything here. Luckily I "have" recouped almost all of my losses + profited over 20 years with Eurasia (EUA) where, staggeringly, I have turned £9, yes £9 into over £1 million (unless I lose the lot tomorrow!) Weird world we live in. If my sister in law hadn't died I would never had thought about Eurasia (and I am not ramping as it on the cusp of being sold anyway) but just illustrates how dreadful mistakes (here and BLVN, AFR......I could go on) can result in the one that saves you. As for SEY......................zzzzzzzzzzzzzzz and forget it.

[septimus quaid] 30/11/2020 06:58

to a point excellance but the boat of opportunity for buying distressed assets is getting ready to set sail, oil price recovery, end of Covid, etc ..and that pot of money isn’t going to last forever. If you’ve been out of the loop, a huge chunk got blown on settling their obligations re Chinguetti

[excellance] 30/11/2020 03:21

i got out immediately after taking advantage of the open offer and consolidation, never to return...until now! i am now interested because ironically they could well have benefited by sitting out of the recent oil bear market, keeping their powder dry for the opportunities in the oil sector that are in abundance, with distressed oilers all over the place and SEY with a lovely bag of cash to save the day...at a price.

[xiggly] 30/11/2020 02:18

SEPTIMUS SEY cant even be bothered to tell the share holders what is going on anymore such is there disrespect for all of us who have invested in this pile of rubbish and lost everything , they just copy and paste the same old garbage on there website word for word and showing a couple of the clowns in a shirt and tie and thinking this somehow gives there website a degree of credibility tried to contact them by phone several times in the past 2 years , just get thru to a girl on the phone who knows nothing so she just gives me another number to phone and they never pick the phone up hence my belief that nobody from SEY even bothers to turn up for work anymore , and why would they when there is nothing to do except sit round drinking tea all day long talking rubbish You can bet your life that the so called " directors " are still drawing a big fat salary from our share money whilst doing absolutely nothing for it and treating the long term shareholders with such massive disrespect , as i said what is going on at SEY is very close to being criminal - there must be alot of very bitter long term shareholders of which i am one of them after seeing my £83,000 investment reduced to £2,700, not to mention the interest i could have earnt on that £83,000 over 12 years , and none of them can even be bothered to pick up a phone to tell you what is going on -absolute disgrace the lot of them --

[septimus quaid] 29/11/2020 17:43

can't disagree with any of that xiggly, I wonder what it's like to pull a big salary for doing not much? Like winning Lotto's Set For Life jackpot Would have been better to have dissolved the company and paid out the shareholders years ago. At least we could have all just moved on.

[cashandcard] 12/11/2020 20:15

On a smaller scale maybe. But I don't buy the idea that will be anywhere near enough to maintain the oil prices where they have been over the last decade.Cash

[excellance] 12/11/2020 18:02

it will mean that oil products that cant be substituted will become more expensive, and will underpin the oil price

[cashandcard] 12/11/2020 17:43

I know that, petrochemicals bitumen etc.but the demand driver has always been fronted by energy use. That will change as easy oil is plateauing across the globe and the rewards are not going to be the same in the future.Cash

[excellance] 12/11/2020 16:13

oil isn't merely an energy

[cashandcard] 12/11/2020 15:48

They have missed the boat. Investment has shifted away from oil and gas to other areas. Oil in particular may rise a little but even the shale drillers are back out again soon as oil goes near $40/bbl. Its not what it used to be. There is longterm potential in gas, but I worry about the sustainability of oil as an investment given who will occupy the Whitehouse soon and is promising $2trillion in green energy initiatives. Oil will still be a major part of the worlds energy mix for another couple of decades - but it will reduce as a proportion of the energy mix as each year passes. I suspect the guys at SEY agree with me hence they are refusing to actually invest in oil. They are better off moving into a different space - but that would actually mean work! Cash

[cashandcard] 12/11/2020 14:33

Shareholders here are responsible for allowing this to continue. No one else to blame but them. No incentive for management to do anything except screen assets endlessly while on the gravy train. Cash

[excellance] 12/11/2020 14:16

Isn't it a free carry? Why then "let it go"?

[septimus quaid] 14/10/2020 04:27

I wonder if SEY should just let Somaliland go (the country's right to exist, let alone exploit any oil discoveries, seems tenuous at best)? The world has moved on since SEY first got involved with Somaliland (at the time, oil prices were sky high and affordable opportunities scarce).