Sterling Energy Share Discussion Threads

[septimus quaid] 29/10/2014 07:40

I got the impression from the IMS that the Chinguetti production was no longer covering SEY's operating costs and that they were dipping into capital reserves.

Can anyone confirm this?

[888icb] 29/10/2014 00:14

Directors granted options at 40p under a long term incentive plan.
What a disgrace they have been asleep at the wheel for years. They should be made to give back the salaries they have drawn for the last five years for non performance. They could give us all 40p by handing back the cash they are sitting on and have been for years.

[surfer2] 28/10/2014 22:18

why would it drop under 20p?

I make it Cash = circa 30p and no debt. Licenses to sell or farm out. no reason to do a discounted placing. Director buys in last yr from 36 to 41p area.

[finjam] 28/10/2014 09:58

another underperforming company where the the directors are rewarding themselves shareholders money by means of ltip as in cop and by coincidence they share some of the same directors, it is time ltips were replaced with stip where if they don't perform they get the sack.

[surfer2] 27/10/2014 12:50

price should be 20% higher from here to reflect cash balance alone - circa 30p

[888icb] 24/10/2014 09:51

Interim Management Statement shows that SEY has £66 million in cash but its market cap is only £55 million.
The company has done nothing of note for years and it begs the question if its not going to do anything with the cash they should give it back to the shareholders.

[mozii] 19/10/2014 00:16

last year interim statement 24/10, something is on the way here

[surfer2] 13/10/2014 10:41

Mozii 25 Sep'14 - 03:23 - 5833 of 5841 0 0

but Chariot is not producing yet...
I think they got better chance with Genel is Somalia than with Chariot in Namibia, as Chariot already had an agreement on thier Morrocon assets.

Surely we are due to some updates very soon...




no , i mean that a combined entity of Sey and Char (for example ) might have sufficient cash to buy decent production and reduce the pure exploration portfolio a bit either via further farm outs or sales. what level of production would 1/2 or 3/4 of a 200 million $ cash balance buy...

[rayrac] 13/10/2014 07:04

Have we a bid on the way?!

Don't hold.

[surfer2] 09/10/2014 17:37

Mozii 21 Jul'14 - 23:33 - 5812 of 5831 0 1

another company that shows how irrational the market can be

trading below cash value with $110m with 220m shares in issue which make it $0.5/share = 30p/share

also trading below nominal value of 40p

that's without even valuing in the facts below
* a company with zero debt
* a company that is producing oil
* a company that is making revenue gross/net
* they had their share of cost already paid by Genel for Somali license
* they increased their share from 15% to 40% recently is Somali license

am I missing something? do I get this all wrong?

[surfer2] 09/10/2014 13:33

Mkt cap 55 million pounds. Cash of 110 million reported 2 mths ago = 68 million pounds. no debt. producing 450 bopd. large carried acreage positions. 4.3 million in EBITdA. Director buys and Options exercised at 36-40p area.

companies cash, assets and 3 yrs of net profit valued at negative of around 10 million Pounds

?

[wbodger] 05/10/2014 08:41

It's just being walked down along with all oilies because the price of oil is down. Mindless, but logic means nothing. Sterling does actually produce small amounts of oil so technically it is affected, but really the whole sector is utterly bombed out.

Belatedly picking up Septimus Quaid's question in #5828, the Aberdeen outfit actually produced some good news last week, so any confusion might have been beneficial.

And, oddly, Waterford (Sterling Energy's major shareholder) recently also took a significant position in Sterling Resources. Oligarchs at play?

[billy two cocks] 30/9/2014 13:13

Could be being walked down to hit a few stops or flush a few bored/frustrated holders out.

Maybe someone wants your shares ?

If they do want your shares....why?

[surfer2] 30/9/2014 12:55

sept 2014 presentation showed no debt and cash of 68 million Pounds equivalent at todays exchange rate. Mkt cap right now 48 million pounds. profitable and appears to be trading 20 or 30% below cash. assets and profitable production free ...???

[billy two cocks] 30/9/2014 09:23

Yes

hxxp://www.sterlingenergyuk.com/html/operations/ambilobe.html

[mozii] 30/9/2014 06:04

In addition to its carried interest in Mazagan, Pura Vida has a 80% operating interest in the Nkembe block offshore Gabon and is taking up a 50% interest in the Ambilobe block offshore Madagascar from Sterling Energy (LON:SEY).did the company mentioned anything about this deal before?

[mozii] 25/9/2014 02:23

but Chariot is not producing yet...I think they got better chance with Genel is Somalia than with Chariot in Namibia, as Chariot already had an agreement on thier Morrocon assets.Surely we are due to some updates very soon...

[surfer2] 24/9/2014 11:34

Mozii 21 Jul'14 - 23:33 - 5812 of 5831 0 1

another company that shows how irrational the market can be

trading below cash value with $110m with 220m shares in issue which make it $0.5/share = 30p/share

also trading below nominal value of 40p

that's without even valuing in the facts below
* a company with zero debt
* a company that is producing oil
* a company that is making revenue gross/net
* they had their share of cost already paid by Genel for Somali license
* they increased their share from 15% to 40% recently is Somali license

am I missing something? do I get this all wrong?





same puzzlement here..... imo they need to buy production of 5000 bopd rather than spend tens of millions drilling a single well. one way to achieve that would be to merge with another africa focused small cap who have cash and no debt.a Chariot oil merger would give the new entity nearly 200 million $ in cash and no debt with a huge Africa portfolio. a few k bopd is useless...target needs to be 5000 bopd.

[billy two cocks] 18/9/2014 09:56

Sterling doesn't borrow from YF Finance (or anyone).

YF Finance hold about 9.5% of Sterling's shares.

hxxp://www.sterlingenergyuk.com/html/investor/capita.html

[septimus quaid] 18/9/2014 09:28

Nibbling down over the last few days. Wonder if we are getting mixed up with Sterling Resources the Aberdeen based outfit?

[windass] 16/9/2014 13:37

Good write up here. Sterling is James Faulkner's small cap of the week

[puffin1] 08/9/2014 16:10

Yep not to clever , will they ever find oil apart from at Halfords ?