Sterling Energy Share Discussion Threads

[bushman1] 25/4/2017 13:16

I attended this mornings' AGM, well impressed with Mikhael Kroupeev and the new BoD. The focus is to increase production from existing assets whilst continuing to look for M & A opportunities which does not include Syria.

Mikhael Kroupeev I understand has a sizeable investment in SEY. He and the Directors ~ do remember this is a new team ~ want to see good success for SEY. I mentioned SDX and SAVP. When could we as shareholders in SEY expect positive news re : M & A opportunities ? ' Six months approx '

Conclusion : this is a solid BoD with great experience and well motivated for success. If the cost of the abandonment liability is capped / kept firmly under control then I'd suggest that with a net cash figure of $ US 88 mill and zero debt plus a good focus on the correct M & A opportunities, SEY might be seeing some good success.

To conclude. I added 87,500 shares to my original holding. Every success to : Mikhael Kroupeev, Leo Koot and Ilya Belyaev.

[bushman1] 19/4/2017 20:22

Notice of the Annual General Meeting of Sterling Energy Plc to be held at The Law Society, 113 Chancery Lane, London, WC2A 1PL on 25 April 2017 at 11 a.m.

[bushman1] 19/4/2017 20:13

The AGM is next week. A good opportunity to register now and then query the BoD directly....

[888icb] 18/4/2017 18:51

The salt is rubbed in the would of long termers who sell is that the Company has so much cash you would get double if they just returned the cash to shareholders.

[xiggly] 18/4/2017 18:02

tarquin

thought sangaw was going to be our great saviour 6 years ago or whatever it was , if you believed everything SEY told us there was oil supposedly gushing from behind every rock out there and we all believed them

if the truth be known SEY have lost alot of people alot of money which has no doubt ruined a few lives along the way because of there gross incompetence , has there ever been another oil exploration company who has never actually found any oil ?

[septimus quaid] 05/4/2017 08:28

Xiggly,

Re Somalia, even if Sterling discover the biggest oil well in history, getting the oil out of these bent, tinpot dictator countries (masquerading as democracies) is fraught with difficulties.

Take GKP, virtually going bust trying to get money out of the KRG, despite actively pumping oil from their "world class" discovery.

So you have SEY, sat on a large cash pile, with cavalier type directors desperate to drill a hole anywhere because that's what they get off on (and who cares anyway, it's not their money they're risking).

Whereas any sensible person would just hand the money back to the shareholders.

Not that this will make you feel any better but my own losses in SEY are roughly double yours.

[septimus quaid] 04/4/2017 07:33

Well I'm now in rant mode.

The recent RNS regarding reduction in capital is a case in point, sneaked out on the back of a Notice of AGM.

The reduction in capital makes no sense and achieves nothing*. All it indicates is that the director's minds aren't fully focused on finding oil but are more concerned with corporate shenanigans.

*unless it is part of a journey to marginalise the existing small PIs into oblivion.

[septimus quaid] 30/3/2017 13:07

Re today's RNS, a step closer to getting our cash back?

[septimus quaid] 20/3/2017 17:24

Tick-tock, slowly whittling down the (shareholder's) cash reserves to nothing.

[optomistic] 03/3/2017 09:40

Two trades this morning 1 share each trade...big day in front of us LOL

[bushman1] 16/2/2017 09:27

Many thanks Slowracer. I took small positions in both GPX and SEY last week hence hedging my bets ! The below link to peace talks in Geneva now this Thursday.

[slowracer] 16/2/2017 08:54

All very speculative but IMHO GPX will be in the driving seat, not SEY. No way that SEY would or could takeover GPX. GPX has an oil well asset worth hundreds of millions assuming Syria sanctions are lifted some day. But it will need cash to restart operations once sanctions lifted, and they dont have any cash.
This is the mirror image of SEY which has some cash (~$90M) but no very prospective assets to develop. So SEY's cash is looking for a 'home', and GPX's valuable oil field is looking for cash. And they are both controlled by Waterford and associates. Draw your own conclusions.

[bushman1] 16/2/2017 07:55

Slowracer. £ 4 mill. facility

Name of Lender Commitment

Waterford Finance & GBP1,492,000 (37.30%)
Investment Limited GBP1,258,000 (31.45%)
Blake Holdings Limited GBP1,250,000 (31.25%)
ME Investments Limited

TOTAL GBP4,000,000 (100%)

May I ask your thoughts re any future acquisition of GPX by SEY ?

[septimus quaid] 16/2/2017 03:43

GPX look like another E&P* outfit.

One last throw of the dice for SEY shareholders?

*Exploration and Prayer

[slowracer] 14/2/2017 09:08

I think they may be all or mostly Waterford nominees.

In my view they won't give cash back to shareholders but will use it in GPX where it has potential to yield much better returns.

[bushman1] 13/2/2017 05:46

888IC. New board members as of end 2016, do look at SEY website.

[slowracer] 11/2/2017 10:43

More likely the cash will be used to finance the restart of oil production at GPX once Syria sanctions are listed.
Waterford effectively control both GPX and SEY, but GPX has no cash and will need lots

[888icb] 11/2/2017 10:31

There is so much activity in the oil and gas sector at the present time it is beyond belief that the board of SEY have done absolutely nothing with the vast pile of cash they have been sitting on for several years(apart from drawing their salaries of course!)
The incompetent disgrace continues and its about time they gave the cash back to the shareholders.

[optomistic] 10/2/2017 15:36

YF 16%
Waterford Finance 29.9%
Misty Vale Ltd 15.6%
Denis O'Brian 7.6%
Banque Heritage 6.7%

That I think is all the Major holders.

[septimus quaid] 10/2/2017 14:45

Envious or what?!

During my time with SEY, I've gone from a regular trip to the barbers to a DIY buzz cut (and doesn't take long).

I would need two lifetimes to recover my losses in SEY.

[obmuj] 10/2/2017 13:08

Just noticed that. Over 16% eh. hmmmmmmmm.
Seat on the board. Changes afoot?
Similar to what's happening at BLVN right now? (COC ousting Board - also just over 15%)

"Anything" positive would be nice.
I think my hair was dark brown when I first invested in this stock.