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% 8.90 8.75 10.00 0.00 0.00 - 0.00 08:00:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.4 -1.5 -0.7 - 20

Sterling Energy Share Discussion Threads

Showing 33001 to 33020 of 33100 messages
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DateSubjectAuthorDiscuss
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 --
xiggly
05/2/2019
20:15
Have you seen this on the website? hTTps://static1.squarespace.com/static/5ba9f4ba77b9032215087961/t/5c40807488251be368bf7981/1547731070742/Jan+2019+IP.pdf
rrr
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
septimus quaid
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
kumala
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)
septimus quaid
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.
optomistic
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. hTTp://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13617206.html
septimus quaid
10/10/2018
14:38
Some did but surely not $37 mill?
optomistic
10/10/2018
10:27
did the cash not go towards exiting Chinguetti?
septimus quaid
10/10/2018
08:11
Looks more like $37 mill not $20...must be in the accounts somewhere (I haven't time to delve this morning)
optomistic
10/10/2018
06:50
What have they done with nearly $20 in the last year, surely they couldn't have trousered this amount among them selves
nickiegaul
10/10/2018
06:49
Sterling Energy PLC Interim Management StatementSource: UK Regulatory (RNS & others)TIDMSEYRNS Number : 4894DSterling Energy PLC10 October 201810 October 2018INTERIM MANAGEMENT STATEMENTSterling Energy plc (the 'Company' or 'Sterling') together with its subsidiary undertakings (the 'Group') is today issuing its Interim Management Statement and financial results for the third quarter ended 30 September 2018. All figures are unaudited unless stated otherwise.Operations -- Odewayne block, Somaliland; trial line 2D processing ongoing. -- Dialogue continues between the Joint Venture ('JV') partners on developing the technical understanding of the block.Financial-- Net cash (zero debt) to the Group as at 30 September 2018 of $46.6 million (30 September 2017: $83.1 million).-- Adjusted Earnings before Interest, Tax, Depreciation and Amortisation and Exploration Expense ('EBITDAX') loss for the Group of $313k (Q3 2017: $1.4 million loss). -- Loss after tax of $306k (Q3 2017: $4.3 million loss). Corporate-- Appointment of GMP FirstEnergy as the Company's co-broker, with immediate effect. GMP FirstEnergy's Oil and Gas expertise, experience and capabilities in research and capital markets will benefit the Company's continued drive to a material M&A transaction.Chief Executive Officer's Statement"Technical understanding of the Odewayne exploration block continues, with the initial 3 trial seismic lines increasing the imaging quality. Discussions with the JV on the progression of the block are ongoing and updates will made at the appropriate time.Since my appointment in June, Sterling has progressed its efforts on securing a material M&A transaction. The appointment of GMP FirstEnergy as co-broker, coupled with the engagement of Pinsent Masons, adds to strengthen Sterling's ability to achieve the mandate.We have a clear strategy and can move quickly and decisively for the right opportunity, leveraging our full cash balance of ca.$47 million and technical capabilities to good effect. We remain very focused on finding a suitable acquisition.In line with other AIM companies, the Board has decided that its regular market updates will continue in conjunction with publication of its annual and interim financial statements. Given the Company's obligation to keep the market immediately updated as material events occur, it was concluded that going forwards there was little benefit from continuing to provide quarterly updates (for Q1 and Q3)."Somaliland - Odewayne (WI 34%) Exploration blockOverviewThis large and unexplored frontier acreage position comprises an area of 22,840km(2) , the equivalent of approximately 100 UK North Sea blocks. Exploration activity prior to the 2017 regional 2D seismic acquisition program has been limited to the acquisition of airborne gravity and magnetic data and surface fieldwork studies, with no wells drilled on block.The Company's wholly owned subsidiary, Sterling Energy (East Africa) Limited ('SE(EA)L'), holds a 34% working interest in the PSA. SE(EA)L originally acquired a 10% position from Petrosoma Limited ('Petrosoma') in November 2013 and an additional 30% from Jacka Resources Somaliland Limited ('Jacka') in two transactions during 2014.In April 2017, the Company agreed to revised farm-out terms to reduce the staged contingent consideration payments due to Petrosoma and reduce SE(EA)L's interest in the Odewayne asset by 6%. The farm-out agreement was amended such that the parties cancelled the $8.0 million contingent consideration in return for: (i) a payment by SE(EA)L to Petrosoma of $3.5 million; and (ii) a transfer from SE(EA)L to Petrosoma of a 6% interest in the PSA. Post Government of Somaliland approval, SE(EA)L holds a 34% interest in the Odewayne Block, fully carried by Genel Energy Somaliland Limited ('Genel Energy') for its share of the costs of all exploration activities during the Third and Fourth Periods of the PSA.In June 2017, the Somali Government (Ministry of Energy and Minerals) contracted BGP (Geophysical contractor) to undertake a 1,000km (full fold, 1,076km surface) 10km by 10km, 2D seismic campaign, to both satisfy and exceed the 500km minimum work program for the current Third Period. This acquisition program was undertaken over the basinal areas identified from the potential fields (gravity and magnetic) legacy data. The three month program was completed in late August 2017, safely and on time, with the second 500km recorded at an average of 14.5km per day.Exploration Term Period Date Work commitment Period 3 To 2 Nov-18 500km 2D seismic acquisition* Period 4 (optional) To 2 May-20 1,000km 2D seismic acquisition and one exploration well* Period 5 (optional) To 2 May-21 500km 2D seismic acquisition and one exploration well Period 6 (optional) To 2 May-22 500km 2D seismic acquisition and one exploration well 6(th) Deed of Amendment (dated August 2016) in place which allows for the extension to Period 3 beyond 2 November 2018, thus extending all subsequent Periods accordingly.* Sterling is fully carried by Genel Energy for its share of the costs of all exploration activities during the Third and Fourth Periods of the PSA.OutlookIn November 2017, Sterling undertook an integrated geological review of the basic post-stack processed 2D dataset provided by the Operator Genel Energy. Following encouraging technical indications, the Company then undertook a highly focused and rigorous processing effort, independent of the Operator, with the primary technical objective of improving the deeper subsurface image. An initial 3 seismic lines of approximately 235km in length have now been processed to a full pre-stack time migrated dataset. This new processing has resulted in a material increase in the subsurface imaging quality, and technical work is underway to integrate this new insight into our technical understanding of the block. The option to process the remaining 765km (13 lines) of data remains in place and the decision to progress to this second phase is currently under review while the deliverables are being assessed. This workflow will allow for an informed technical and commercial perspective on the block in 2H 2018.Financial SummaryIn the period, the Group reports the following results: Q3 2018 Q3 2017 FY 2017 (unaudited) (unaudited) (audited) $ '000 $ '000 $ '000 ------------- ------------- ----------- Revenue (1) - 1,771 4,433 Adjusted EBITDAX (2) (313) (1,377) (5,926) Loss after tax (306) (4,261) (9,000) Net to Group - cash and cash equivalents at period end 46,589 83,058 81,365 ============= ============= =========== (1) Revenue derived from income relating to interests in the Chinguetti field.(2) Adjusted EBITDAX are (losses)/earnings before interest (plus other finance income and expense), tax, depreciation, depletion, amortisation, provisions and write-offs of oil & gas assets. Adjusted EBITDAX also excludes pre-licence award exploration costs and share based payments; the latter being a non-cash expense charged to the income statement under IFRS 2.For further information contact:Sterling Energy plc +44 (0) 20 7405 4133David Marshall, Chief Executive OfficerMichael Kroupeev, ChairmanPeel Hunt LLP +44 20 7418 8900Richard CrichtonJames Bavisterwww.sterlingenergyplc.comTicker Symbol: SEYThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDMSCZMMGGMLDGRZZ(END) Dow Jones NewswiresOctober 10, 2018 02:01 ET (06:01 GMT)
nickiegaul
05/9/2018
15:38
Strange trades - a 25 share sell followed by a 35,000 sell followed by another 1share buy.
storming norm
05/9/2018
13:54
1 share purchased today and the share price goes up 5%!
storming norm
05/6/2018
16:49
Guys you really need to check out COPL currently to buy 0.55p. A potential to be a multi baggar.It tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company. Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset. The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil. When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true. What is holding the share price back presently is NNPC approval. $60m was spent on this asset by the previous operator.the potential for Copl is huge. I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m) Copl management wants it to be a mid tier oil and gas company ie £250m-£500m All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE.
nicky21
25/4/2018
07:05
Interim management statement out today: hTtp://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SEY/13617206.html Just looking back, in 2014, SEY had $121 million (of our money) cash in the bank and now they have a paltry $47.3 million. It has cost a ludicrous amount of money for SEY to extricate itself from Mauritania (SEY's share $32.6 million, great negotiating when all you are doing is blowing other folk's money). After all these years, I'm not even sure what Mauritania actually achieved, apart from underpinning the company's excessive operating costs. Unless there's some kind of wildcat miracle, I can see the cash reserves dwindling down to zero in the next few years and that will be the end of that. In which case, despite everything that has happened in the meantime, at the first sign of the Chinguetti operational problems in 2006, and from a shareholder's perspective, SEY were effectively bust.
septimus quaid
26/3/2018
13:42
Ok ,it is worse ...peel hunt says "add" and price target now only 15.5p today
tarlok
26/3/2018
10:35
Xiggly, spot on IMO
roguetreader
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