.

.

.

Probably am - but it could work

.

in hand of those who shorting the stocks, Cameron, and alike.

If u look at other oil Companies, as I have, there does not seem to be
a better fit for SEY than AFREN. Especially Madagascar, which could be
fantastic.

Madagascar has proven heavy oil on shore so there could be something
also off shore. Was it Cove that found gas or oil off shore Tanzania.
Afren are on shore, in north west Madagascar, next to off shore SEY

I think the original thinking was that SEY would create a steady income
from gas sales in USA and explore for oil on the basis of that income.
The original premise of SEY has not worked, after all these years.

I have had SEY shares for about 6 years and I say politely they have
been "unlucky". Management has changed completely from the original
founders, and now SEY is not much different from 50 other AIM quoted
companies.

Perhaps it is time for SEY institutional shareholders to make a move.
AFREN, assuming they want SEY would be a perfect fit for both companies.

.

SEY exited its US business to fund drilling in Kurdistan. The Company has completed tendering for seismic acquisition services and is ready to award a contract, subject to the approval of the Ministry of Natural Resources. The Company plans to acquire the 2D seismic data during the second and third quarter of 2012 and this may lead to the drilling of an exploration well in 2013 on the Sangaw North block.

The political situation in Madagascar following a change of Government by non-democratic methods in March 2009 is whats holding up progression. The Government of Madagascar has not been recognised by the African Union or by the United Nations. In September 2011, the political parties in Madagascar agreed a process, prepared by the Southern African Development Community, leading to elections expected by the end of 2012.

Cameroon Ntem Oil Co. Ltd (Murphy), a wholly owned subsidiary of Murphy Oil Corporation under which Murphy was assigned a 50% working interest in, and operatorship of, the Ntem concession. Sterling retains a 50% non-operated working interest. As consideration, Murphy paid to Sterling a contribution towards past costs and is committed to fully fund joint operations in relation to the current phase of exploration.

Operations within the Ntem concession area are currently suspended under the force majeure provisions of the licence owing to an overlapping maritime border claim between Cameroon and Equatorial Guinea. The Company believes that both countries are actively working to resolve this issue and that the impact of the outcome will be either neutral or positive to the Company’s position however, the possibility exists that the resolution could take longer than expected and that the outcome could have a negative effect on the Company’s position.

When force majeure is lifted, there will be 15 months remaining in the current exploration period which includes the drilling of one exploration well. Having introduced an experienced deep water operator, the Company is now well placed for this operation when it occurs.

The $110 million could be used to progress either of these blocks pending developments, the company remains profitable and as such is in a good position to wait. I see no reason for a buy out on Sterlings side and doubt unless the offering was exceptional shareholders would support it.

Shortie

I do not think SEY exited USA businesses to fund Kurdistan, as you say.
I believe that gas prices were consistently low in USA, and SEY bought into
a USA gas company, which they subsequently sold off at a big loss, and any gas that SEY did find in USA was running down at a faster than anticipated rate


I thought we were told that the work at Kurdistan was "carried" by Korean
National Petroleum at no cost to SEY.

Also SEY had a rights issue about three years ago to raise money from us shareholders, and that is mainly why SEY has $110m in their bank

SEY has been "unlucky", so why should we keep waiting even more years
for Cameroon and Madagascar and for SEY new CEO to achieve something.
Better if AFREN buys SEY out, and we make some salary and overhead savings.

.

SEY / AFR both in Madagascar, Kurdistan, Nigeria / Cameroon, all in SEY at no market value, as SEY cash in bank same as market capitalisation. Almost a gift for Afren

Very odd - no prices presently quoted ?

.

Just a robot trade....but why, doesn't seem to make sense...but what does with SEY!

.

Seems to have been such a long time since we had any release from SEY...perhaps they are to busy enhancing shareholder value to let us know what is happening to what's left of the company :-/

.

Almost 1.5 million traded so far today.

ps laughed enough for today mnamreh :-)

.