Sterling Energy Share Discussion Threads

[optomistic] 19/10/2011 11:49

Good to see that ExxonMobil still our partner....

"The incumbent government, formed after the coup in March 2009, has not been recognised by its African neighbours or by many other governments. Sterling and ExxonMobil, our partner and the operator of the Ampasindava Block, will look for an improvement in the political situation before undertaking significant expenditure.



The current exploration periods for both the Ambilobe and Ampasindava licences were due to come to an end in November 2010. Sterling and ExxonMobil continue in discussions with OMNIS, the state oil company of Madagascar, with regard to an extension of both licences."

[excellance] 17/10/2011 10:04

how does the BLVN discovery effect SEY?

[ordb] 13/10/2011 18:26

There certainly does seem to be a buyer picking up stock at 40p.

[serratia] 13/10/2011 15:54

odvod,

Scotforth look to have some interesting technology.It's mentioned a lot on another site.It would appear to have excellent predictive abilities for locating oil deposits.As with all things on BB's it's worth looking deeper. People associated with the company hint that it has been successfully used and there's a vague reference to SEY.
One employee(?)mentioned £250m for location analysis.The comments made so far give readers encouragement re oil at different locations.I,and I presume others would like to believe in the technology so a bit of an investigation into the company seems reasonable.It seemed strange that a company with a good predictive technology had no accounts at companies house.They may be and I hope they are a successful company but I think it's reasonable to follow up on them and the published directors.

[grbaker] 13/10/2011 15:52

odvod, just following on from a request above from Serratia...

[day o] 13/10/2011 15:26

The 40p level seems to be holding well.

[odvod] 13/10/2011 13:12

grb - what is the above exercise for? Principals are reading this BB. Walking into someones home - is it nice without beeing invited? IMHO

[day o] 13/10/2011 13:07

Thanks skipper

[grbaker] 13/10/2011 12:51

Hi there Serratia:

OK, here's what I found (in reply to your post 11 Oct'11 - 21:09 - 5013 of 5016):




and



I couldn't find any companies listed for the other two people mentioned on that site (Dmitri Balabayev George Tomin)... but you only need two people to form a Company and a Company need not have any employees or even trade anything at all!


This is, however, a bit more interesting:


[Postcode matches that given on the Scotforth website for this above entry]

PLUS:

And:


* Basically, CRIFFEL ENTERPRISES seems to be the Company behind things...


...So, yes, I feel that this does indeed seem 'a little unusual'... but not necessarily out of the ordinary (if you see what I mean)! It could be that 'Scotforth Limited' is a trading name used by another company (e.g. CRIFFEL ENTERPRISES)... although in this case, I am not sure if they can legally use the term 'limited' in connection with Scotforth (but that's up to them and I'm not a lawyer).

Another possible explanation is that the company is incorporated offshore somewhere. A final explanation is that whoever did the site put 'limited' on there... who knows?

What is clear is that Scotforth is not a UK Limited Company registered with Companies House as far as I can see (unless it's so new that it's not on the register yet) ... and that there was an old company of that name that's been dissolved for years ... and that the postcode and Director name from their site seems to match another Company called CRIFFEL ENTERPRISES with a Registered office some ways away from the PostCode given on their site ... what is also clear is that the PostCode for CRIFFEL ENTERPRISES leads to MAZARS LLP THE PINNACLE etc. in MILTON KEYNES; which has a number of other Companies registered to the same address ... and is therefore just a 'box' address which companies use to keep their registered office away from their home address... in other words it's just a mailing address or the address of a company that offers virtual or registered office services to other companies ... see this page:


Perhaps somebody involved with the company or with more knowledge than I've been able to trawl up here (via google) can comment???

[the skipper] 13/10/2011 12:26

My money's on a new drill announcement for Kurdistan Day 0. The curreent exploration phase expires next month if they don't make a move, so not long to wait now. Then again, things are hotting up in Madagascar so we might also get an anouncement from our partner, Exxon. Either way we should be back on the radar soon enough.

[day o] 13/10/2011 11:20

What short term news is expected for this company ?

[serratia] 12/10/2011 19:50

Peter Hutchinson MD listed here together with their address.



Peter Hutchinson here.



Companies house here.

[grbaker] 12/10/2011 19:30

Hi there, which site was that please? Let me know and I'll have a look myself if you want... and post what I find...

Cheers.

[serratia] 11/10/2011 21:09

grbaker,

Had a look at their site.I thought I'd check them on line at companies house.There is no record of their company.I assume any company trading as a UK company has to file accounts AFAIK.Three senior staff are listed Hutchinson/Balabayev/Tomin.Balabayev has publications to his name in the technology.I can't find anything on Tomkin.Hutchinson on Linkedin lists himself as Data hosting BP,previously financial benefits analyst,previously accountant at Figleaves.com.No mention of Scotforth.
All seems a little unusual ?

[grbaker] 11/10/2011 20:12

Thanks Skipper. Well let's hope there's going to be more drilling. We need something to lift the share price here: but then, many metals/mining stocks are down at the moment and SEY has actually gone sideways (which could be viewed as not to bad).

[the skipper] 11/10/2011 18:04

Thanks grbaker.

I did not have time to copy and paste it last night but my take is that his company told Sterling et al that they had placed the well in the wrong place and if they bothered to listen to them they could tell them where to drill next. Maybe that is what is now happening since he says that 'There are commercial issues involved with Sangaw that preclude me from saying any more.'

One of them also said something about his family recently buying 1.25m shares which I had assumed to be in SEY but on re-reading I see it was LGO.Strange co-incidence that a buy order for around that amount was quietely filled on level 2 (for SEY) during the previous two weeks, mind :-)

[grbaker] 11/10/2011 11:28

Anyway, I've posted on the GKP thread to ask if either BOBOBOB or GRH1 might like to post here... so we'll see if we get maybe a bit more of an explanation etc.

[odvod] 11/10/2011 11:17

"Although a seepage is evidence that oil or gas has existed in the area it is by no means a forgone conclusion that hydrocarbonates are still in existance in commercial quantities...."

The Petroleum industry By G. Sell, 1963

[grbaker] 11/10/2011 11:12

Yes, especially if it does pan out to accurately support exploration.

I'd still like to know exactly what they're saying about Sangaw North 1... either they found commercially viable gas or they didn't!

And what exactly did the satellite system GRH1 is involved with say about that well, before it was completed???

That's the gist of it.

It's all gone very quiet here and the current exploration phase of the Production Sharing Contract for the Sangaw North area will expire in November 2011...

...then the joint venture partners (Sterling, Addax and KNOC) may (or may not) decide to participate in the next exploration phase which runs until November 2013...

Then there's been the changes at board level...

So let's hope there's something worth drilling there somewhere.

[odvod] 11/10/2011 11:03

The thing is - the earth feeds the flora and you can detect several chains of moleculas (elements) in the local flora which migrated from the earth to the flora (this was known in the first part of the last century - they were doing it by airplanes) by the look. They can see it (that is why onshore only IMHO) by the satellite now. Concentrations can be seen.

It is a viable concept and it is important to recognise it. EEN has been talking to bob which is good for sey I assume IMHO

So worth respecting this stuff ( sorry for my amateur opinioning)

[grbaker] 11/10/2011 10:39

I've also just re-read my two posts above and spotted this, within the first one:

"but we have handed predictions via email/reports to several CEOS ...
IN ADVANCE of drilling results becoming known...

none has been less than highly accurate...

SH4 would be a good example...
as would QD1...
as would SEY drill on Sangaw

you get the picture"


What the nature of this prediction was would be very nice to know indeed! Any chance of posting what that prediction was please, GRH1..?

[grbaker] 11/10/2011 10:06

Apologies for the long post, but I believe that this is what The Skipper (10 Oct'11 - 23:21 - 5003 of 5003) is alluding to:


grharrison - 10 Oct'11 - 16:58 - 120164 of 120335

Herschel K

it is not guaranteed..of course...
we do not claim 100% success

but we are at 24 correct predictions/analyses out of the last 24...
which is not too bad perhaps:)

so a tad better than 1 in 12 commercial successes on wildcats with seismic only

this latter figure is appalling of course...
and is the very reason why investing in the E&P sector has proved so problematic for many...
not 'just' for investors per se ...but for whole BoDs too

Yes...I am in possession of VERY detailed hydrocarbon-detection imagery of Shaikan...

it is possible that such images might no longer be quite so commercially sensitive...
so there is a remote chance that I might post one...

people will be shocked I can assure you

however...and as Bob implies, this is a complex game
so please don't expect such posting too soon...

it is certainly the case that BB data is 'rather' valuable...
but more anon

Regards
GRH (1)


bobobob5 - 10 Oct'11 - 17:19 - 120172 of 120335

sarah: here is a public domain article by our commercial partners which was published on Oiledge:



pipelandpete - 10 Oct'11 - 18:11 - 120185 of 120335

GRH That published article infers that Sangaw showed positive data !!!
What went wrong there ? Drill in the wrong location ?


bobobob5 - 10 Oct'11 - 18:23 - 120188 of 120335

pipelandpete: I have the detailed satellite maps of Sangaw North (and Sangaw South). The well location at Sangaw North was chosen by the Chinese who paid for the hole (perhaps the most expensive onshore well ever drilled). The hole was actually drilled in a different place to where it was thought to have been drilled...some of these E&Ps refuse to reveal well locations. Sterling think that the Sangaw anticline is homogenous...the same all over...is it? Hmmmm.... How does Sterling explain that their well did not intersect oil when there is oil at surface in villagers' water wells? There is obviously oil in the structure...but Sterling do not know where it is. Nor does Sinopec. Nor does KNOC.


grharrison - 10 Oct'11 - 19:27 - 120192 of 120335

Sarah...

not all of the planet has been surveyed...far from it...
it is very time consuming and costly work...

but we are commissioning more surveys/analyses almost daily

it is of course ...as you know...only on-shore acreage that can benefit...
and there are a few limitations on that too which I will not clog up the BB with

I am 64 years of age...
and working as hard now on this as I have ever before worked...
but it is both intellectually stimulating and financially rewarding

We have a commercial model that is rolling out to several E&Ps...
of course NDAs preclude saying which ones etc...
but we have avoided the supermajors ...due to the decision making time that can be taken

but I can tell you that the boss of a large Nomad said to me only three weeks ago ' this technology will result in an almost 100% migration of equity capital over the next 24 months...away from those E&Ps still hoping that seismic alone will deliver for them...to those who are using this tech to find oil'...

I concur...
I just hope that I am not then too old to watch the fun and games

of course some CEOs have taken the view that they are not yet interested etc...and that is their choice...
but we have handed predictions via email/reports to several CEOS ...
IN ADVANCE of drilling results becoming known...

none has been less than highly accurate...

SH4 would be a good example...
as would QD1...
as would SEY drill on Sangaw

you get the picture

I will be out all of tomorrow (without this fangled iPhone stuff)...on satellite business...so might not be able to reply etc until I return

Kind Regards
GRH1


grharrison - 10 Oct'11 - 19:38 - 120196 of 120335

thanks ...

of course it is very hard to draw the correct line...

whilst we wish to share some of this with fellow investors...

there are major commercial imperatives at play...
and we would be most unwise to go into too much detail

as a simple example...
if you were a large holder in a share
and you KNEW something that others did not...
highly price sensitive of course...

would you REALLY want to tell all on a BB ?

Regards
GRH1


bobobob5 - 10 Oct'11 - 20:48 - 120212 of 120333

pigeon: why do you say there is no oil in Qara Dagh and Sangaw North?

Qara Dagh is a huge structure (there is a video of it on youtube, filmed from a truck dring up to the top from Sangaw, it beggars belief) and QD-1 intersected a *colossal* oil column. Niko Resources issued what we consider to be misleading information in nes release during the earlier stages of the drilling, which implied good rock matrix quality. The well was NOT in a good location, but Niko's news releases implied that the reservoir quality was OK, from their repeated references to "net pay". If you think that GRH is unhappy about those news releases, you should hear what he says to me about them. he is extremely displeased. The same sort of comment applies to Sangaw North. THERE IS OIL AND GAS AT SANGAW. That is a FACT. There is oil in the villagers' water wells, and Sterling found gas - but no oil. There are commercial issues involved with Sangaw that preclude me from saying any more. There is a colossal gas column at Sangaw North 1. I really cannot say any more about that well for commercial reasons.

imho DYOR etc

[the skipper] 10/10/2011 23:21

If you want some intriguing stuff on this and some of the other Kurdi oilers check out Frenchboy's thread on GKP and for posts by bobobob5 and grharrison. Now we know who was behind the big order which recently got filled anyway :-)