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% 11.95 11.50 12.40 0.00 0.00 - 3,635 12:02:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.2 -0.5 - 26

Sterling Energy Share Discussion Threads

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Brief history with Waterford and UK listed Emerald Energy (EEN). EENs share price had bombed down to as low as 0.1p (tenth of a penny) in 2003. Their operations were in Colombia. In mid 2003 Waterford got involved in a refinancing and held a susbtantial chunk of the company. The refinancing was done at 0.25p (quarter of 1 pence). As there were a few billion shares in issue this would later be consolidated at 100 for 1 meaning the refinancing was 25p. 2 year later in November 2005 they picked up assets in Syria and a small placing at 158p (post consolidation) - a more than 6 fold increase in share price. 3 years and 9 months later in August 2009, EEN was sold to Sinochem for 750p/share (£532m m/cap) with the share price being north of £5 on/off in the preceeding 2 years. Waterford made 30 times their capital investment from 6 years earlier.
Perestroika, you are not Michael Kroupeev by any chance? LOL Seems a good investment
A lot of misinformation on here: Xiggly: Somaliland is a carried sideshow with no commitment to Sterling. The main thesis here is Market cap is 40% below cash with little or no ($1.2 mm per anum net overhead over interest income) Tarlok: The Chairman Mr Kroupeev is totally aligned with Sharholders as he owns 29% and stands to gain much much more than his £200k per anum fee arrangement by getting a deal good enough to even reflect Cash value of 17 pence in the share price! Mr Kroupeev's (colloquially known as Michael Kroupeev but real name Mikail Kroupeev) past deals are below hxxp:// This page says Waterford (kroupeev) are working on something in the Middle East hxxp:// The interims here below interestingly mention Egypt solving their receivables issue "North Africa is buoyant given recent large discoveries in Egypt and the reversal of its long running receivables problem. There remains a clear appetite in this market for buying and selling existing production" hxxps:// A poster on twitter mentioned he heard Sterling were looking at Egypt Check out #SEY GMP Securities were appointed last October to assist in finding a good deal. (it wasnt until early 2018 did they know (and pay off) the Chinguetti decomm liability for $32.5 million so it would have been reckless for Sterling to act sooner than that. hxxps:// CEO only appointed June 2018 - a production of stranded fields specialist CEO has Egyptian Experience! hxxps:// With Share Price 10 p and cash 17 p, it will rocket on a production acquisition for example, in Egypt where United Oil and Gas recently announced last week a production deal, involving BP prepayment finance (non dilutive) hxxps:// Sterling have the cash ($45.5 million at June 2019) to rapidly become a £100 million MCAP
More cut and paste - the deadest of dead money if you're an investor here.
Why o why didn't they buy JOG in May ,see my post 29/5/19 could have got a bargain, really don't think they are looking to buy at all, think it's money is to be used for funding directors life ,but hey why not there running the company not me ! Lol
Ps, not sure returning cash to share holders is viable,why would the board want that .....I'm thinking Turkey's voting for Christmas etc
Was going to ask same question ,has anyone else noticed share activity increase over last couple of weeks? But nice to know someone else has. Not sure what it means ,but you never know with sterling !Lol
I'd second that cash re a return of funds if no deal materialises. Saying that, they have indicated at picking up production assets so i'd prefer that. Seems to be a lot more share trading activity this past week.
Hi Zengas, I've been following this again for sometime since you mentioned it a few months ago. Are they ever going to immerse themselves in the oil&gas business again or just continue to pickup salaries for doing nowt? I have little confidence in these folk doing anything but keeping their snouts at the trough. They have managed to miss a golden opportunity to buy up assets during the oilprice downturn and even during the first couple of years of recovery from the downturn (2017-2018). Given where the shareprice is today, I would encourage remaining shareholders to petition for winding up the company and returning the 15-16p of cash to shareholders. That is the best result in my opinion - return what is left before it too gets squandered. Cash
$46.3m cash end of Dec 2018 "Ongoing focus on capital discipline, cash general and administrative overheads ('G&A') expenses reduced by 25% to $3.0 million and is forecast to be ca. 15% lower in 2019." "Sterling retains a strong position on the AIM listed oil and gas sector with a strong cash platform of $46.3 million and no debt or other liabilities." "Proactive focus on treasury management, with interest received totaling $1.0 million." With some interest and a reduced G&A total cost might be $2m-$2.5m for 2019. Using a forward yr end 2019 cash amount of $43m = £33m or 15p/share. In the absence of returning any cash, the company has a great cash pile that could acquire good assets. Their emphasis is on a production deal (so possibly cash generative from the off if done ?). Looking at some of the listed O&G sector companies and what they have, SEY could rerate to a £70m-£100m m/cap if the right deal is landed. Current 10p share price = £22m m/cap.
Just what are they doing with there cash? Have given them a couple of ideas lol but still share price drops now under 10p. ! Is this the worst use of funds ,,,,ever ! The market must feel it's being so badly run and no future prospects to have sellers at this price ,, any one left out there to sell lol
You can imagine that working for SEY in main office. Coming work and looking each others face do nothing and been paid.They should be shame using shareholders money on their ownership.Have been waiting for 10 years to see some gains but losing nearly all.
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.
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