Sterling Energy Share Discussion Threads

[septimus quaid] 11/3/2014 19:18

Are the finals out in the next week or so?

[linton78] 03/3/2014 09:24

Lets hope so! When are we expecting news from Murphy? Early April?

[naughtynicky72] 02/3/2014 19:04

Good Luck All You Longs ! May be the year for SEY .

[888icb] 21/2/2014 14:53

SEY has made good progress on the back of news in the last month moving up from 42p in mid January to 55p today. Lets hope this continues as the drill bit turns.

[roks] 14/2/2014 16:02

Yes.... 'once bitten, twice shy', I hope they find something down there this time.

[linton78] 14/2/2014 15:05

Roks - You've done well there from £1.37. I got stung around the £1.20 level also.

Any thoughts on this drill?

[roks] 14/2/2014 14:57

There are some still lurking around, not posting, just watching.....

I've been averaging down since 137p, another penny to break even. I am somewhat relieved, I might just get my money back.

[linton78] 14/2/2014 14:50

7Stock - That's a good reminder, thanks.

With the company actually drilling after so long, and so little interest across the SEY boards it looks like most PI's have turned their backs or given up on Sterling. I just get the feeling this is the time to top up or buy back in..... especially with the down side protected to some extent with cash

[linton78] 14/2/2014 11:21

From bobobob5 - (on the GKP board)

14 Feb'14 - 09:54 - 32282 of 32295 1 0

Linton: my family retains a position in SEY. The board's strategy (or should I perhaps say, the orders of their Russian chums?!) is to retain their cashpile via the farmout strategy. That way, even if the wells don't come in, the downside is limited. Will they get a positive result this time? There's no way of telling. Sterling has been an unlucky company for years, under two lots of management, and whilst it might seem illogical, I do these days think there really are E&Ps that are born under a bad star. On COS data, the well probably will be another dud. But it might be good...and if it is, the price would respond strongly. Very few AIM oilers are making any decent finds, that's the view in the City, and they're fed up with putting money into failed wildcatting.

[linton78] 13/2/2014 09:42

hxxp://www.sterlingenergyuk.com/pdf/presentations/2014-02-10_Investor_Presentation.pdf

Sterling are targeting circa 450mbls in the primary target.

The Sterling web site shows 3 main target fans (all drawn equally)... so is this drill really targeting over a billion barrels of oil ?

I e-mailed Phil Franks yesterday who was tight lipped and gave nothing away - as you would expect.

SEY are drilling towards the source migration - thinner sands that are oil bearing have been found towards the coast - in line with where we are drilling and possible migration path.

Why did this well get spudded so quickly by Murphy?

If you join the dots together and look at the 3D on Sterlings website this could be a very high CoS drill.

Any other views on this drill ??

ATB.

[linton78] 12/2/2014 15:17

Just bought back into SEY after the Sangaw disaster (I don't like to even mention that farce!!)

This is an interesting drill... fingers crossed.

[palwing32] 12/2/2014 10:06

No probs 7Stock. ADVFN automatically change the TT to xx if you are not a subscribing member. However, they have YET to alter their software to detect other variations.

As you say, SEY seems to be awakening after a LONG hibernation. Unfortunately I am in from many years ago. Only down about 80% now! lol Should I average down I ask myself constantly. However, as with PET, once bitten, etc etc...

[7stock] 12/2/2014 09:57

Thanks palwing32, I just copied and pasted the link wasn't sure why it never worked. Encouraging flow of news lately.

[888icb] 12/2/2014 09:19

Looking encouraging on a number of fronts now and with good partners.
Good news from one of the prospects should drive this significantly higher as the current share price is largely underpinned by cash.

[palwing32] 12/2/2014 08:55

Somalilandsun - Sterling Energy has completed a second farm-in deal covering an onshore block in central Africa's Somaliland.

The company said it now has government approval for the second farm-in to acquire a total of 25% equity in a production-sharing contract (PSC) for the onshore Odewayne block. Last November Sterling completed the first farm-in with Petrosoma to acquire 10% in the Odewayne PSC, paying US $10 million conditional upon certain work milestones being completed.

A few days later Sterling signalled the second deal to acquire a further 15% interest in the PSC from Jacka Resources, involving the payment of $15 million, which is also conditional on certain work obligations being met.

As a result Sterling now holds 25% in the block, which is operated by Genel Energy with 50%. Petrosoma now holds 10%, and Jacka Resources 15%.

The Odewayne PSC covers a total of 22,840 sq km (8,816 sq miles), and aeromagnetic and gravity surveys were carried out over the area in 2013. Oil seeps have also been discovered during field work, adding to belief that there is a working petroleum system in the area.

Source : empag

[palwing32] 12/2/2014 08:54

7Stock... post links like this, note the capital T's

[7stock] 11/2/2014 22:16

hxxp://somalilandsun.com/index.php/economic/4976-somaliland-sterling-finalizes-second-oil-contract-acquisition-

[pigeon1] 10/2/2014 20:08

Wbodger thanks

Yes still boundary dispute but very importantly they agreed with the Gov't to lift the force majeure because this prospect in the licence lies completely outside the disputed territory. In fact the majority of the licence is not affected.

[puffin1] 10/2/2014 19:09

Well good News for once , Let's hope our luck is in this time . At some time SEY must get it RIGHT ?? Anyway good fortune to all the long term prisoners here !

[wbodger] 10/2/2014 18:52

Big. CoS: well, how long did it take Murphy to get a drill spudded? Pretty keen, I think.

Check out the Presentation from November
hxxp://www.sterlingenergyuk.com/pdf/presentations/2013-11-01_Investor-Presentation.pdf

Page 7: "Potential of several hundred million bbl unrisked prospective recoverable resource". Page 9 answers your other questions.

But beware, still an active boundary dispute between Cameroon and EG.

[pigeon1] 10/2/2014 17:09

Anyone got detail on the size of prospect and COS?

I note rns states that the 450m is just in the primary target - suggesting that there are additional target(s) on the way down - anyone got any colour on that?

thanks and good luck..

[septimus quaid] 10/2/2014 11:32

True, hopefully a drill ship just turns up and away she goes