Share Name Share Symbol Market Type Share ISIN Share Description
Sterling Energy Plc 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 +1.57% 9.675p 9.05p 10.30p - - - 0 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.4 -1.5 -0.7 - 21

Sterling Energy Share Discussion Threads

Showing 32751 to 32772 of 33100 messages
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DateSubjectAuthorDiscuss
10/2/2015
10:02
this is just a gravy train for the BOD....
deanroberthunt
10/2/2015
09:12
RNS 2 days running perhaps there is life again after the Directors usual long winter hibernation. Today they have actually spent a little money and invested in an oilfield. Whatever will they do next!
888icb
10/2/2015
08:19
take $2.5m off that number :)
deanroberthunt
09/2/2015
15:39
Depends when the Chenquetti field is finally decommissioned. I'd rather see the field shut-in and put on maintenance now due to the much lower oil price which could extend the decommissioning time to late 2018 - maybe 3.5 years away. I think lifting costs are about $53/b so just about breakeven now at this oil price. "Sterling estimates that at the end of 2013, Chinguetti held a remaining 7.8 million barrels of gross proved and probable reserves (2P) that could be accessed via the existing wells. Sterling's net entitlement to 2P reserves is 559k barrels (2012: 475k barrels). The increase in the 2P reserves recognises an updated production profile and a subsequent revision to the anticipated economic field life from May 2017 to December 2017". http://www.investegate.co.uk/sterling-energy-plc--sey-/rns/annual-financial-report/201403170700134285C/ Decommissioning The Group has obligations in respect of decommissioning in Mauritania. The extent to which a provision is recognised depends on the legal requirements at the date of decommissioning, the estimated costs and timing of the work and the discount rate applied. Decommissioning estimates for the Chinguetti field are based on a range of operator estimates which are periodically reviewed by the operator and the Chinguetti partners. The Company amount of $21.6 million (2012: $21.2 million) represents the amount provided within the Company for future decommissioning expenditure. During the year the economic field life was extended following a review by the operator of decline rate performance. The extension of field life has resulted in an adjustment to the provision during the year of $624k. http://www.sterlingenergyuk.com/pdf/financial-reports/Report%20and%20Financial%20Statements%202013.pdf. Using $100m net cash currently (£1=$1.52)= £65.5m over 220m shares = 29.77p $21.4m of future decommissioning costs = 6.34p/share (2017-18 ?). Still leaves 23.4p cash. I believe that Sterlings free carry interests, even heavily discounted to what they paid/farmed out for make up the difference again and there is an underlying value of 28-30p/share.
zengas
09/2/2015
14:24
Isn't there also a rather chunky decommissioning liability worth about 8p per share though.
hugepants
09/2/2015
14:07
or unless they just waste the cash on more duff wells?
deanroberthunt
09/2/2015
13:51
assets are worth nowt, so it's just the cash.
deanroberthunt
09/2/2015
13:50
maybe the'll just spend it all on bacon buttie sarnies and 6 packs of Tauraus Cider from Aldi?
deanroberthunt
09/2/2015
13:49
$107m as of last record....what's that £69m ....32p ?
deanroberthunt
09/2/2015
13:30
Another 100k (2 x 50k) for me at these prices. 28-30p cash. Nothing in it for the assets/asset carries. Todays RNS has no bearing on the above or current production.
zengas
09/2/2015
13:05
kaos, i think the opportunity is so clear now, just return the cash and say goodbye
paul the octopus
09/2/2015
13:04
hmm, who is opting for the cash then? no brainerisn't it 30-25p cash?
paul the octopus
09/2/2015
12:41
and when shareholders, if they have any left, think things can't get any worse.....they do!! this needs winding up.
deanroberthunt
06/2/2015
08:36
SEY is waiting for an opportunity to strike for years. Did they ever given a criteria so we can judge? This is a time to strike imho
kaos3
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
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