Sterling Energy Share Discussion Threads

[bobby ewing] 26/6/2012 21:12

they are closing in on Gulfsands

[surfer2] 26/6/2012 20:50

2 x Dir buys of 100,000 each - 36p area?

[puffin1] 15/6/2012 12:08

Clunes100 , Post the reply on the board if they do , but don't hold your breath !

[clunes100] 14/6/2012 22:58

I might get in touch with the company and see what they say.

[dougdig] 13/6/2012 20:52

"Some?" Clunes - you are far too kind!
We need to know why the hell we should continue to hold - what on earth are they playing at?
A friendly updating RNS would do no harm!

[ghhghh] 11/6/2012 10:36

How do you get discount to cash?

Current assets at YE were $119.5m

Current Liabilities were $14.5

Hence Net is $105m which equates to 30.7p per share

However Long term liabilities are $20.3m so cash net of these is 24.7p.

Accepted you can argue that the Long term liabilities should be wiped out by current income stream over next few years but imo the safe cash figure to assume is somewhere between 24.7p and 30.7p?

[osirisra] 01/6/2012 04:36

Trading below cash in the bank value again.

MCap £77.92m

Cash $118m (exchange rate of 1.55 = £76.13m).

[flyingbull] 31/5/2012 10:56

The monthly oil stock competition for June is still open. Deadline for entries is midnight on Thursday 31 May 2012.

Good luck!!!
fb

[puffin1] 31/5/2012 10:46

Have we got a board of Directors or just leaches ? cause they are sucking the life out of SEY and putting nothing in.

[denny_blood] 25/5/2012 13:18

I cant think of any other share/company that has been as been as bad as this one.

[yousif] 25/5/2012 11:00

May I ask what the directors of this company been doing since they finished their work in Kurdistan? It is been now more than a year.
How do they justify their salaries?

Cash per share is now 31-32P.

Poor private share holders.

[bobby ewing] 24/5/2012 18:48

So when will sterling energy make a bid for Gulfsands, think about it carefully and then put answers on a postcard

[gaz57] 04/5/2012 07:55

Another mouth to feed.

[dougdig] 01/5/2012 14:46

Hmmm ...thanks for the info. I will continue to hold a little longer in the hopes something might pick up soon.
I think I remember Bobobob was into these at one time - lack of posts from him seems to suggest he may have moved on.

[264091] 01/5/2012 13:44

They've moved on to ASX:JPE

[tobby1] 01/5/2012 09:52

Just for clarity - asset quality is not assured yet - major opportunity is still highly speculative.

Mgt brought their track record from EEN where they got very lucky in Syria by buying a stake at firesale prices in acerage operated by Gulfsands. Before that they were having a tough time making anything land in Columbia - and we never got to quantify what the opportunity was cos they were bought by a NOC (can't remember who.

They may have had solid credentials before that but again I can't remember.

[dougdig] 30/4/2012 23:12

Thanks tobby1 - given quality of these assets and the management pedigree I am surprised at the poor share price performance.
I must be missing something?

[billy two cocks] 30/4/2012 14:11

GOOD POST tobby1.

MY FEELINGS EXACTLY.

Thanks

BTC

[excellance] 28/4/2012 18:39

there is oil and gas at sangaw, but a lot of water...

i wonder if the conditions are right for oil reservoirs in the entire license, in terms of seals. There are seeps, but that would indicate holes in any seal.

[serratia] 28/4/2012 09:30

Most Kurdistan licences have now been issued.If a major oil co.wants in they have to acquire existing rights.They would want to control a licence,no point in owning 10 or 20%.Sterling have a large percentage on their licence.The KRG have said there's going to be consolidation which would seem to be getting closer (next month or two?)Sterling's drill failed,that doesn't infer there's no oil on their patch.
There's a reasonable chance they would be part of the consolidation but at what price? Who knows?

[dougdig] 28/4/2012 08:34

tobby1 - makes me wonder why we are still holding?

[septimus quaid] 26/4/2012 18:19

Spot on summary!