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
  +0.00p +0.00% 9.425p 8.90p 9.90p - - - 351 14:54:51
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 32951 to 32973 of 33100 messages
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DateSubjectAuthorDiscuss
21/12/2017
15:27
SEY CEO Eksil Jersing has resigned. You only have to look at his LinkedIn profile to see he was never going to be a stayer. During his three year’s tenureship, the share price has done nothing but collapse further.
septimus quaid
18/12/2017
23:14
29/01/18 will be the 5th anniversary since SEY withdrew from Kurdistan. Apart from a load of verbiage, not a sausage since. ...and in that time the shareprice has dropped from 40p to 13p.
septimus quaid
15/11/2017
09:06
Wantmore Please go and see your therapist, urgently! And/or stop drinking for lunch.
baner
02/11/2017
16:30
SELL,SELL,SELL
wantmorethan24p
02/11/2017
16:29
1 MINUTE TO SELL
wantmorethan24p
01/11/2017
14:10
Just keeping an eye out but I wonder if the present board will achieve a new share price low (beating the previous record of 12.25p on 07/12/15)? Retired now but if I'd been as poor as this lot, in my former profession, I would have been sacked.
septimus quaid
30/10/2017
17:26
How would the directors pay themselves if they did that honourable thing???
dave-w
25/10/2017
21:55
Yes for many years but unfortunately the Directors still take salaries. One of the most disgraceful companies on the market. They sit on a massive pile of cash which is not reflected in the sp,which they should return to shareholders as they are not investing it.
888icb
25/10/2017
19:35
Is SEY in hybernation?
roks
09/9/2017
11:35
HNR - TWO wells successfully drilled with abundant oil and gas in samples extracted! Fracking and FIRST OIL next month! Don't miss this train!
happyholder123
07/9/2017
21:10
The cash is being preserved to help GPX restart oil production once sanctions are listed.
slowracer
06/9/2017
22:33
A rare bit of news this week from the company with the most idle and useless board of directors on the stock exchange. They are sitting on a mountain of cash,drawing there large unearned salaries and doing sweet FA. An utter disgrace and you should give the cash back to the very long suffering shareholders.
888icb
25/8/2017
10:58
Kosmos Energy says that the Tortue field offshore Mauritania in the Atlantic Ocean has been confirmed as a world-class resource following successful completion of a drill stem test (DST) of the Tortue-1 exploration well. BP has a 62% stake in this project. Sterling has interests in Mauritania... BP and Kosmos hail Tortue-1 stem tests Results reaffirm prospect off Mauritania as 'world-class gas resource' BP and its partner Kosmos Energy have completed drillstem testing of the Tortue-1 well off Mauritania with positive results. Drilled in 2700 metres of water, Tortue-1 flowed at a sustained though equipment-constrained rate of 60 million cubic feet per day during an extended flow period with minimal pressure drawdown. Kosmos, whose shares began trading in London this week, said the results provide confidence in well designs each capable of producing about 200 MMcfd. Kosmos chief executive Andy Inglis said
optomistic
28/7/2017
17:51
One last golden hurray from Chinguetti before they start knocking the nails in the coffin: Average net Group entitlement to production of 320 barrels of oil per day ('bopd') (1H 2016: 214 bopd). Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13310697.html
septimus quaid
28/7/2017
09:56
As alluded to by Irish, are the monies intended to pay for decommissioning not "embedded" somewhere else in the accounts, hence the cash already sits net? Otherwise there would be a risk of not having enough to pay for decommissioning which must be an absolute no-no.
septimus quaid
28/7/2017
07:26
Statement of financial position At 30 June 2017, Sterling held $83.5 million cash and cash equivalents available for its own use (30 June 2016: $92.4 million). Group net assets at 30 June 2017 were $76.1 million (30 June 2016: $78.6 million). Non-current assets totalled $22.5 million (30 June 2016: $18.8 million) with net current assets reducing to $78.1 million (30 June 2016: $92.3 million). The Group's Chinguetti decommissioning provision (current and non-current) at 30 June 2017 was $31.6 million (30 June 2016: $32.4 million) reflecting the Group's current estimate of gross abandonment and decommissioning cost. so 40m£ net cash cf £32m market cap
ohisay
23/7/2017
12:51
Irish, thanks for your comprehensive article. Once these small AIM stocks run into trouble then small PIs can quickly say goodbye to their money. Although SEY aren't actually "in trouble" (yet), any MBO would require the majority of shares being wrested from the following (09/03/17): Waterford Finance and Investment 64,815,517 29.45% Finance Limited 36,611,361 16.64% Limited 34,467,790 15.66% O'Brien 15,750,000 7.16% Heritage 14,930,358 6.78% Unless they go for some form of share dilution but that will require money. Alternatively, they could run the company into the ground and buy the assets on the cheap.
septimus quaid
22/7/2017
09:29
Re Cash required to decommission existing activities, in particular the Chinguetti Field: I have never seen a PSA in the last 25 years that does not require the Operator and JV partners to establish a Sinking Fund for decommissioning, financed from cash from every barrel sold over the life time of the field. This Sinking Fund is not just to protect the host country from the Operator doing a runner, its also there to protect the Operator form the junior JV partners from also do a runner (or in bankruptcy). So the cash for the decommissioning should already be in the SPV Co set up by the operator for Chinguetti Field. Thus no cash should be required from Sterling. In deed Sterling might get cash from the SPV if decommissioning costs are lower (which they are these days). Maybe if there was a disaster in the Chinguetti Field, then probably the cash in the Sinking Fund would not be enough, but that should be covered by insurance. This is why I am sure the management are going to do an MBO. Shareholders who are so frustrated with this management, might be inclined to think the management are just stupid. Believe you me, nobody in the Oil industry is stupid, especially when the see an easy opportunity. They are not communicating any of this information to the market, hoping the shares will drift lower, say 12p, and then launch the MBO (very easy money). So sit tight if you don’t need to sell. I still say free cash is 28p and Somaliland maybe 16p now that they have done the Seismic (without any trouble). And remember Genel also pay for ALL COSTS including the 1st well, so it’s a completely free ride for Sterling (no cash required). If the hit c 50m barrel in the 1st well, at $5 a barrel that’s is worth another c. 30p a share to Sterling. Genel are targeting 1,000 barrels in the block so the share price will go crazy. So that is 44p a share now, and if they hit oil in Somaliland 75p to blue sky. A MBO will make millions and millions (at no cost, its all there in cash).
irish 2003
21/7/2017
04:54
Should be due the half year results in the next week or so
septimus quaid
10/7/2017
13:45
Irish2003 Whilst i share your view "something is cooking" - i believe your valuation is far, far too high. Sterling will have to separate itself from a very large chunk of cash when they abandon the producing field in which they have a stake. Maybe they will be 20p of net cash left, but not even that is certain in any ways. Add Somaliland to that and shareholders should be happy to get 25p for their shares, probably less.
baner
06/7/2017
12:38
Just to follow up This is a very good site for updates on Somaliland hxxp://www.oilnewskenya.com/tag/somaliland/ Interesting Seismic in Somaliland started on the 7th April ? Yet Sterling only announced it on the 9th June, election results day! This is why I am sure the management are up to something, and that can only be an MBO. So hold if you can, cash per share is 28p and add another 12p for Somaliland, should be 40p per share. Good luck
irish 2003
21/6/2017
11:14
Sterling Energy are closing down all operations, except for Somaliland, which they will probably sell. They have passed a resolution to free up reserves to pay out £40m And they have $80m in cash = 28p a share For all holders (who have suffered with this management), it might be a bit crazy to sell if you don’t have to. MBO ? I think the management are deliberately driving the share price south … why?? MBO, great, we will get our cash back, should be 22p to 25p a share
irish 2003
09/6/2017
15:48
A little bit of progress re Odewayne (although, according to the RNS, it will be Sept 17 before initial results): Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13255728.html
septimus quaid
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