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 9.05 9.05 9.05 9.05 20,289 16:35:15
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 33026 to 33044 of 33100 messages
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DateSubjectAuthorDiscuss
28/3/2019
10:40
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.
zengas
27/3/2019
10:47
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
cashandcard
27/3/2019
10:35
Plonker....
birotop
26/3/2019
14:32
This BOD have been basically all retired over the past two years . About time action was taken. Best of
bbr391
26/3/2019
13:03
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
26/3/2019
12:32
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
cashandcard
26/3/2019
12:24
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.
zengas
26/3/2019
11:03
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
cashandcard
25/3/2019
22:49
An appalling board of Directors who have done absolutely nothing for a decade other than taken unearned salaries.
888icb
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
septimus quaid
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
tarlok
14/2/2019
14:16
Of Waterford but chairman of SEY is... MICHAEL KROUPEEV, CHAIRMAN
optomistic
14/2/2019
12:57
The chairman is Waterford.
farmscan
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 :-/
optomistic
14/2/2019
10:17
Isn't the chairman also the biggest shareholder, so I don't expect Waterford to do much.
farmscan
13/2/2019
23:05
Well I just had to post this... “The outlook for 2018 to 2019 is positive.” — MICHAEL KROUPEEV, CHAIRMAN
optomistic
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%
septimus quaid
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?
sludgesurfer
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...
rrr
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