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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
  0.00 0.0% 16.50 16.10 16.90 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.2 -0.5 - 36

Sterling Energy Share Discussion Threads

Showing 32951 to 32969 of 33150 messages
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So maybe they are doing something,,,,nice buy today of 75000 shares so you never know
So SEY are looking for a acquisition? Hope they are looking at JOG at 70p mkt cap £12million with ,£14 million cash and possibly good prospects for future oil ,if SEY are really serious about doing something why not bid £1.10 a share ,cost of £18 million ,JOG share holders gain 50 per cent and SEY gains £14 million cash and still have £15 million of there cash left,So they then have brought oil company for ,£5million a no brained to me ???
Laugh I don't think so. Company has more cash than its current value. Question is who took them? I've seen this before in other oil gas company situations. Might/might not be a sign of impending corporate activity. There's MXO which has been a disaster with a fundraise at 0.1p barely 6 months back collapsing to 0.4p and a new funding/wealthy investor - now up 7 fold in barely 2 weeks. Biggest mistake was in watching Asos float at 20p in late 2001 and crumbling to 2p before rising again to where a director sold 1m of a 10m holding for 8.25p just 2 years after ipo. I read the sale wrongly and sold my entire holding of a few hundred thousand shares that were bought in the 3p range. Barely a year after that the shares were £1, climbing to £3 and £70 over the next 8 years without any dilution. Asos floated on 3/10/2001 and a placing of 1,125,000 shares at 20p per share, 20 February 2004 John Griffiths, Director, today sold 1,000,000 ordinary shares at 8.25p per share by private sale. Mr Griffiths now holds 9,002,571 ordinary shares in the Company, representing 13.24% of the Company's issued share capital. 01 July 2004 The Company has been notified that, John Morgan, the Company's Finance Director, has today acquired 25,641 ordinary shares at 39p per share.
Sterling Energy Plc ("Sterling" or the "Company"), the AIM listed oil and gas exploration company with a high potential exploration asset in Somaliland and an active strategy to deliver shareholder value through disciplined, exploration and production projects, announces that Waterford Finance & Investment Limited, (an entity owned by the Kroupeev Family Trust which Michael Kroupeev, non-executive chairman is a beneficiary of), sold 500,000 ordinary shares on 18 April 2019 of £0.10 each in the Company at 11.6 pence per share. There having a laugh arnt they......high potential exploration asset in Somaliland and an active strategy to deliver shareholder value through disciplined lol
Looks very reasonable to me at the current value Div.
Zengas, slightly o/t, but I know you were very keen on i3e last year. What are your thoughts now on it, after the recent placing which was well supported by their bod? Atb.
Is the appointment of David Marshall as CEO here last June a real catalyst for change? And the GMP First Energy appointment as co-broker last October?
zengas thanks for your optimism - you are probably correct as there are many options for SEY with that kind of cash pile , but after nearly 9 years after sangar went belly up we the long term shareholders are still waiting for SEY to do something , but what have they done ---- nothing ,and for obvious reasons we cannot sell our shares as the price would have to reach £5 to £6 before we even break even , You have to wonder what they actually do when they turn up for work , they draw a huge salary from our hard earned share money and year after year after year nothing happens and our hard earned money becomes just worthless , £140,000 in my case - i wish i could share your optimism but after nine years of this garbage you have to ask yourself have they any intention of ever doing anything at at all except keep drawing a fat salary from our share money until there is nothing left -
13 years is a long time to sit on a share that is still tradeable and fully listed. Forget about pinning hopes on Somaliland if that's your only reason to hang on. Incompetent Clowns ? - management come and go. The key investors made a lot of money for stale and struggling Emerald Energy shareholders in a similar position to which you find yourself in. They acquired an asset, found significant oil which they then sold for 25x upside. Black and white issue is $46.3m/£34m cash and a reduced forecast cash burn of circa $2.55m for this current year. Many companies would be crying out for that sort of cash at a m/cap of £24m without having to dilute themselves to raise that sort of cash. They are more than capable of acquiring a production asset. The thing is good assets aren't just laying around everywhere to be picked up at the right money and when you get into the due diligence process of something that looks attractive, no one knows what legal minefield or delays are encountered to securing or then dismissing that asset and having to restart the process. Hague and London announced a similar strategy in May 2016 (having previously lost out a year earlier to an acquisition that Conrad Petroleum snapped up) then announced an acquisition target in May 17 and completed it 18 months later in Dec 18. Likewise Savannah Petroleum working on a deal that has taken stages of almost 2 years now while having to abandon a previous acquisition target a year before that. Sey hope to execute a deal by mid year in the recent presentation and 2 days ago reiterated that as being in the near term. It's not in their interests to do nothing given the shareholder base and the cash pile.
xiggly, Do you not think there maybe some money to be salvaged IF, and its a big IF, they can secure a production or near-production asset? You might not get that Lambo, but maybe could salvage enough for a nice Audi ;) Cash
This BOD have been basically all retired over the past two years . About time action was taken. Best of
cash don't know if you remember een - I was invested in it for a good few years and one of the most absolute dogs re performance until Waterford came along and invested in EEN with new assets and the old remaining. They achieved a minimum 25 bagger return when they sold it in a few years. They carried over some of the een people from memory and farmed out Sangaw in Kurdistan while reaching over a 160p share price on the same number of shares as there is now. It flopped and they were left with a range of high risk exploration and a producing field that was marginal with too many irons in the fire. There's been a change of personnel but I don't think you will see the main investors depart such as Waterford as this is still an ideal investment vehicle with no asset baggage other than a free carry to 1st well on the massive Odewayne licence. When they came into Emerald they didn't change names or anything as it was the quality of the asset that they brought at the time that delivered. As was then in een, as there is now in Sey, many investors/holders were/are stale and basically the sentiment at Sey now is a mirror image back in the old een days. If 2P/2C is introduced here it could be transformational rather than all high risk exploration.
Zengas, A brilliant summary. I think the cash position gives them options but I really do not understand what they have been doing for years now. I would look favourably at a clear out of the old team and also rebranding is needed (new name etc) to attract new investors who are not troubled by the past. Sometimes the reason a discount to cash happens is because of lack any credibility left with the current guys in place, that's the price current holders are bearing for past failure. Cash
Net cash = $46.3m end Dec 2018. The mandate is for a material 2P/2C acquisition so a move away from pure exploration. They have stated yesterday that the company running costs which were $3m for 2018 will be 15% lower for 2019 so circa $2.55m. At least $43.75m available for deal making which in January they expected in H1 this year and reiterated yesterday as in the 'near term' (with 3 months of H1 remaining). After run costs that's £33m at todays exchange rate versus £24m m/cap. They have 34% of the 22,840 km2 Odewayne block of which Genel is the operator with 50% and themselves i beleive looking to farm down. Whatever way you look at it the company is not encumbered as it was before and a material deal is on the cards to change the outlook and direction. The remaining £33m cash (after 2019 burn rate) is worth almost 15p alone on the 220.1m shares in issue and no debt, yet trading at a discount at 11-12p currently. One can buy this at a discount to cash and take them at their word that a material asset with 2P reserves/2C resources will be acquired - or buy into Company xyz in some hot part of the world with no reserves/production, and a £100m+ valuation with maybe under a quarter of that valuation in cash. That's the opportunity.
what's worse, they actually did not bother to buy into production when it was significantly lower than what it is now, using their funds to leverage a big production/cashflow heavy deal. I like the look of this, but its the management I do not trust. Cash
An appalling board of Directors who have done absolutely nothing for a decade other than taken unearned salaries.
Re exploration, all SEY do is copy and paste the info from last year's results and stick a revised date on it
septimus quaid
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
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