Sterling Energy Share Discussion Threads

[septimus quaid] 25/3/2019 11:37

Re exploration, all SEY do is copy and paste the info from last year's results and stick a revised date on it

[tarlok] 07/3/2019 12:50

I may be missing something buts hears an idea , sey has $47,000000 in cash or about £35,000000 its share price is 11p giving market cap £24,000000 , so we club together and bid ,say £30,000000 or 25% premium on 11p thats 13.5p a share . we make on share price and have £5,000000 to share between us ! ,any takers lol

[optomistic] 14/2/2019 14:16

Of Waterford but chairman of SEY is... MICHAEL KROUPEEV, CHAIRMAN

[farmscan] 14/2/2019 12:57

The chairman is Waterford.

[optomistic] 14/2/2019 10:36

He can't have more shares than Waterford as that would bring the total shares held in that list to over 100% and that's not counting the the ones held by the many minions like us :-/

[farmscan] 14/2/2019 10:17

Isn't the chairman also the biggest shareholder, so I don't expect Waterford to do much.

[optomistic] 13/2/2019 23:05

Well I just had to post this...

“The outlook for 2018 to 2019 is positive.”
— MICHAEL KROUPEEV, CHAIRMAN

[septimus quaid] 13/2/2019 20:49

I know there's not much us little minnows can do about the money slowly being squandered but surely the bigger shareholders must be having the same beef, why don't they do something about it?


Waterford Finance & Investment Ltd 29.5%
Light & Salt Capital Management Ltd 16.6%
Soyuzneftegas Capital Ltd 15.7%
Denis O'Brien 7.16%
Banque Heritage SA 6.78%
Richard Ian Griffiths 2.30%
Fiske Plc (Broker) 0.87%
Zeta Resources Ltd 0.71%
Aberdeen Asset Investments Ltd 0.69%
Hargreaves Lansdown Asset Management Ltd 0.57%

[sludgesurfer] 13/2/2019 20:16

Cash of $46m and a market cap of $34m is a pretty damning indictment of what the market thinks management can do with the cash. Beyond the gradual depletion of shareholder funds and "ongoing discusions", I'm not really sure what the point of this company is..can anyone help me out?

[rrr] 06/2/2019 19:43

I fear you're right xiggly. I just thought it was at least something new but as you say it's just more of the same old...

[xiggly] 06/2/2019 19:37

RRR

just the same old meaningless dross and rubbish they have been conning us with for the last 10 years or more , unless they finally find oil , something they have never done in there whole sorry history which is quite something for an oil exploration company,the share price will continue to go the way it has gone for the last 15 years or more until this miserable lot have bled it dry and wound it up --

[rrr] 05/2/2019 20:15

Have you seen this on the website?

[septimus quaid] 05/2/2019 08:30

All the directors have done so far is take a very healthy company bank balance and squander it on an expensive exit deal from Chinguetti and now seem to be hell bent on winding down what remains by paying themselves nice salaries whilst delivering not much in return.

Typical AIM mess

[kumala] 21/11/2018 14:37

XigglyI bought in August 2009.. sitting on a huge loss as you can imagine.... at todays share price ... to me their worth next to nothing...K

[kumala] 20/11/2018 12:40

Another positive day for sterling... any news... something going on behind scenes out of PI view maybe.. nice to see considering wider market...CheersK

[septimus quaid] 20/11/2018 12:03

A little bit of positive shareprice movement over the last fortnight.

Odd, as there have been no announcements that I'm aware of.

[septimus quaid] 11/10/2018 08:41

Yes, to my mind, Chinguetti has turned out to be a pointless exercise (well, from a shareholders’ perspective anyway, do doubt the directors and other hangers-on have done ok)

[optomistic] 11/10/2018 08:20

Thanks Septimus..Well that's cleared up where the money went. That enormous figure must ave taken care of a lot of the past oil sales.

[septimus quaid] 10/10/2018 19:43

Mauritania
Chinguetti oil field (Deed of Termination January 2018)

As of 26 January 2018, in light of the cessation of production from the Chinguetti oil field, the Company, the Government of Mauritania and SMHPM agreed to terminate the Funding Agreement ('Deed of Termination'). The Deed of Termination provides for a payment (made on 26 January 2018) by Sterling to the Government of Mauritania and SMHPM of a fixed sum of $32.6 million to settle any and all claims under the Funding Agreement, including Sterling's obligation to pay for its share of abandonment and decommissioning ("A&D") costs and outstanding 2018 operational expenditures. As a result, Sterling has no residual exposure to the A&D costs for the Chinguetti oil field.

[optomistic] 10/10/2018 14:38

Some did but surely not $37 mill?