Sterling Energy Share Discussion Threads

[bobby ewing] 15/10/2012 16:01

BTC = To$$er

[septimus quaid] 09/10/2012 09:19

Fido was big on SEY but towards the end he was completely losing the plot.

[excellance] 09/10/2012 08:33

i saw a post by fido not so long ago...

[ringosstar] 09/10/2012 08:21

sounds like a fido to me......

[excellance] 07/10/2012 14:33

o/t

one of my current favourite oil companies is JPRL, another in the Beardsall stable...

[septimus quaid] 06/10/2012 19:20

Are you new to this share?

[excellance] 06/10/2012 14:04

nice...

regarding the "pump and dump" comment... i see no evidence of a p & d, just the usual market fluctuations possibly buoyed by speculation that the Cameroon license may be drilled in the near future after years of dispute between Cameroon and Equatorial Guinea.

I also wonder if anything positive will happen at Chinguetti now the oil price has stabilised at the $90+ range. This is after all our only source of revenue.

[billy two cocks] 05/10/2012 16:01

"As night follows day, we've had the pump now comes the dump!"

NOPE....FIRST PULL-BACK. JUST ADDED.

Thanks

BTC

[xiggly] 04/10/2012 17:35

bobabob

how would you know how much it cost to drill the first hole and if you do how much did it cost ?

[septimus quaid] 04/10/2012 16:21

As night follows day, we've had the pump now comes the dump!

[bobobob5] 04/10/2012 13:06

There's no possible way that Sterling can fund the drilling of another well of similar type and cost to SN-1, which was perhaps the most expensive onshore oil well ever drilled in the history of oil exploration. They would imo have to (a) farm it down again to one of the Seven Sisters or equivalent, and/or (b) drill a low-cost shallow well on the flank of the structure, where the target zone(s) can be easily reached. I think you mean about four months!

[excellance] 02/10/2012 23:01

a word of warning...

"The Korean National Oil Corporation (KNOC) has assigned its 20% working interest in the Sangaw North PSC back to the Kurdistan Regional Government of Iraq (KRG) effective 5 August 2012"

"Sterling's paying interest in the PSC has increased from 53.33% to 66.67% and Addax's has increased from 26.67% to 33.33%"

"Sterling and Addax have also agreed to notify the KRG before 31 January 2013 whether the partnership intends to drill a further exploration well on the Sangaw North block before the end of the current exploration phase which runs to November 2013, with the option for a further one year extension in the event that further exploration and/or appraisal work is warranted. Under this agreement, if Sterling and Addax elect not to drill, then the PSC will terminate on 1 February 2013."

so it appears that KNOC have lost their appetite for Sangaw, presumably because the costs of drilling again outweigh the chances of success so for them the risk is too high... but then again they are a large company with many other assets to spend the cash on... the question is, will SEY/ADDAX persevere?

meanwhile, there appears to be interesting developments between Cameroon and Nigeria, and i wonder if there will be news regarding the dispute between Equatorial Guinea and Cameroon soon?

[xiggly] 02/10/2012 17:48

excellence

thanks for the heads up bud , must admit after reading your knowledge on sangaw i feel a little more confident about the next drill than i did a few weeks ago -

seriously thanks alot ----

[puffin1] 02/10/2012 12:01

hope our leaders are doing some work for the money we pay them ? like it is time for some news !!

[clunes100] 02/10/2012 10:12

The only thing that worries me is, how long does it take to evaluate the data and get a new farm in partner. If the prospect is good, one would assume that this would all happen fairly quickly. Why is it therefore taking so long for this experienced managment team to get their act together. Roll on some news soon, very boring here for the long termers.

[excellance] 01/10/2012 23:05

xigg,

what i am saying is that of course they hoped to discover a gusher first time out, but in reality they decided to play the odds for the long game, in other words they decided to try and work out the best place to drill in order to learn as much as possible for their money and drill through several intervals.

they have done that now and although they did not discover commercial oil at least they now know where to drill next in order to improve the odds, but unfortunately that does not guarantee success and never does in o & g exploration.

[kaos3] 01/10/2012 19:58

only joking. one can not be exact looking into the future in O&E

[xiggly] 01/10/2012 19:31

bobby ewing

now now bobby - i fully admit i am a novice on here and am putting my trust in the more knowledgable members to give me there wisdom and help to a cause that effects everybody on here -

[bobby ewing] 01/10/2012 19:27

Xiggly

Don't be so gullible

[xiggly] 01/10/2012 19:25

kaos

are you serious kaos are we really 18 months away from the next drill ?