Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Sterling Energy LSE:SEY London Ordinary Share GB00B4X3Q493 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.15p -1.40% 10.55p 10.10p 11.00p - - - 0 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.3 -6.7 -3.0 - 23.22

Sterling Energy Share Discussion Threads

Showing 32726 to 32743 of 33025 messages
Chat Pages: 1321  1320  1319  1318  1317  1316  1315  1314  1313  1312  1311  1310  Older
DateSubjectAuthorDiscuss
04/2/2015
14:25
odvod, u shoukd be worried, but why the BoD should? they are happily sitting there milking the cash into their pockets as salary for doing nothingwhat could be better than this?
paul the octopus
04/2/2015
08:32
Not bad money for meeting up 8 times a year and having a couple of pints together Alastair Beardsall £180,000 £80,000 125% Philip Frank £231,800 £225,000 3% Angus MacAskill £271,800 £263,800 3% In considering these increases the Committee took into account the following factors: • review of remuneration in peer companies; • general level of UK inflation (CPI/RPI); and • retention/motivation. The increment to the base salary for Alastair Beardsall reflects the significant increase in his time commitment to Sterling’s business. As Sterling’s Chairman, Alastair Beardsall has executive responsibilities, but remains a part-time employee. The non-executive fees are determined by the Board with no Director voting on his own remuneration. For 2013 the fees were £33,000 (2012: £33,000). The Committee reviewed Directors’ bonuses and awarded the following amounts during the year: 2013 bonus 2012 bonus % increase Alastair Beardsall £31,500 - >100% Philip Frank £40,570 - >100% Angus MacAskill - - - The rules of the Company’s Staff Bonus Scheme permit the award of an annual bonus to executive Directors where: • the total annual bonus is capped at a maximum of 100% of the base salary; • up to 50% may be awarded for achieving certain corporate objectives, for 2013 these objectives included HSSE performance, new ventures and farming out certain assets; and • up to 50% may be awarded for exceptional personal performance; exceptional is performance above and beyond that expected under the individual’s job description. Annual bonuses are also granted to eligible UK staff under the same rules; the maximum percentage that can be awarded reflects the individual’s skills-set experience. Bonuses are not awarded to non-executive Directors. The Committee awarded the following options under the All Staff LTIP schemes: 2013 LTIP Award 2012 LTIP Award % increase Alastair Beardsall 1,657,500 - >100% Philip Frank 627,000 843,750 (26%) Angus MacAskill - 989,250 (100%)
nickiegaul
02/2/2015
08:57
If they do not move in this market and at this POO then I am worried.
odvod
02/2/2015
08:53
dreamed of these guys buying Afren, or maybe it was just a dream. You never know nowadays.
paul the octopus
19/1/2015
18:13
I wish they would buy some in distressed company with proven assets don't even mind if they moth ball the asset till oil picks up in price as it will in 10/12 months .
puffin1
19/1/2015
18:11
no point to hurry for oil now, unless they can dig it out for $10, don't take your money back then and watch them spending it on your behalf
paul the octopus
19/1/2015
13:44
Paul the Octopus it looks like that is the idea !
puffin1
15/1/2015
13:26
Paul, The $13m deficit between April 2014 and October 2014 came about from an additional 15% farm-in to the Odewayne block in May 2014 which SEY paid $12m for to Jacka Resources. 25th April 2014 IMS Somaliland - Sterling has paid $5 million to date. 12th May 2014 Somaliland We are very pleased to have completed this transaction with Jacka for the Odewayne Block. We have built a material stake of 40% in the PSC and significantly lowered our cost of entry from $1m to $0.625m for each 1%. 24th October 2014 IMS Somaliland - Sterling has paid $17 million to date. They are not spending that same figure every six months ! They have $107m approx. which at $1.525/100p = 70m pounds cash. 220m shares in issue = 31.8p cash.
zengas
15/1/2015
11:59
This company has 220 million shares in issieApril 2014 they had $121mill in cash = 36pOctober 2014 they had $107mill in cash = 32pSo that 14mil in 6 month and hence expected April 2015 they should have $93 mill = 28pOctober 2015 they should have $80mil = 24pGiven the current oil prices and the tiny amount they dig out why they just don't return the cash to shareholders and seal the case28p would be gr8 compared to 18p now
paul the octopus
12/1/2015
21:55
Don't see why this shares is dropping, thought you had to be an oiler to suffer when the oil price drops? In fact, would have thought cash was King at this time.
johnmp
08/1/2015
19:15
optomistic , thanks for that reply .
puffin1
08/1/2015
13:42
puffin 1... Madagascar: Ampasindava Location Offshore NW Madagascar, Indian Ocean Area 7,379 km² Sterling Equity 30% Partners ExxonMobil 70% (Operator) Overview The Ampasindava block is located in the Majunga deep water basin, offshore north-west Madagascar. The production sharing contract (PSC) for Ampasindava is held by Sterling (30% working interest) and ExxonMobil (70% working interest and operator). The PSC is in the third phase of the exploration period, which runs to September 2015, with a minimum work commitment of one exploration well. A large prospect, known as Sifaka, is ready to drill and has the potential to contain, un-risked, gross best estimate prospective resources of 1.2 billion barrels (RISC Competent Persons Report, March 2008). In 2013 the operator acquired 1,314km of new 2D seismic data over the Ampasindava block; the new seismic data is being processed and will be integrated with the existing data set to provide improved sub-surface imaging of the large Sifaka prospect and to mature additional prospects in the Ampasindava Block to drill-ready status. The operator is planning to drill the first exploration well in 2015/16. Following the farm-in by ExxonMobil in 2005, Sterling’s costs are carried up to a fixed gross amount. The estimated cost to drill the Sifaka prospect is expected to exceed the remaining carry and the Company has started a farm-out process to introduce an additional partner to carry Sterling’s share of the drilling costs not carried by ExxonMobil. Prospectivity Summary Ongoing exploration in southern Madagascar has resulted in the discovery of several onshore heavy oil discoveries in the Morondava Basin that are currently being developed. In contrast, there has been limited exploration in the more northern Majunga Basin, though numerous hydrocarbon shows have been reported at outcrop and in onshore wells. The deep offshore where the Ampasindava block is located remains undrilled. 2D seismic data acquired in 2006 have confirmed the presence of a series of large northeast-southwest trending Jurassic structures within the block. Outcrops in nearby coastal areas are dominated by thick, good quality sands that are expected to feed deep water turbidite channels and fans. These are predicted to be the main reservoir in the Sifaka prospect. Additional deeper Karoo reservoirs are likely to be present as well. Widespread organic-rich shales of Early Jurassic age are also observed at outcrop and geochemical analysis have confirmed their organic carbon content. These are thought to be analogous to the Jurassic shales associated with the recent large discoveries in East Africa, and are modelled to be mature and within migration range of Sifaka. The Cretaceous potential is currently being assessed following the acquisition on additional 2D seismic data. Several reservoir intervals are known for the Cretaceous, leading to the likelihood of multiple play types in the basin.
optomistic
08/1/2015
13:11
haven't found a single drop of Oil in more than a decade....even though the planet is swimming in it!!!!
deanroberthunt
31/12/2014
08:34
Might as well spend the money on a hole in the ground somewhere as paying it out to a load of directors that sit in the office all day scratching their bottoms, you must also remember these yobs are experts at picking out dusters
nickiegaul
23/12/2014
17:23
Sorry have missed something ? are they ExxonMobil due to start drilling Soon ?
puffin1
23/12/2014
16:33
Gross carry is $30m i believe? So say $100m well since deep water (hopefully less in this market) then 30% of $85m or $26m. Net cash about $75m knocking off all liabilities. So would drop cash to $50m.
ghhghh
23/12/2014
16:16
As a result of the farm-in to the Ampasindava Block by ExxonMobil Exploration and Production (Northern Madagascar) Limited ("ExxonMobil") in 2005 (70% working interest and operator), Sterling's costs in this block are carried up to a fixed gross amount. The cost to drill the Sifaka prospect would exceed the remaining gross carry and Sterling has engaged in a farm-out process to introduce an additional partner to fund its share of the drilling costs. Does anyone know the potential extent of this liability? ie what is the gross carry and estimated cost of well? Is this why shares trading at such large discount to cash? Wont be able to farm out their 30% and at only 8% CoS not a great punt!
ghhghh
18/12/2014
14:45
See we have one less on the pay roll now .
puffin1
Chat Pages: 1321  1320  1319  1318  1317  1316  1315  1314  1313  1312  1311  1310  Older
Your Recent History
LSE
SEY
Sterling E..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190319 22:48:19