It was disaster over the last five years, always spent and failed....

They just need one success to make it jump a couple of folds.

Madagascar off-shore licenses would slot in nicely by
the side of Afren on-shore license area at very little cost.

Cash in bank $107m or £66.875m
SEY market capitalisation £52m
So is business worth - minus £15m ???

Some possibilities of drilling next year - Somaliland etc.
A share that has not dropped in the current market much
and that has been supported by its cash in the bank.
Looks like a fair bet on any future oil finds
I still hold on to 50,000 shares

.

SEY up 11.45% so far today - is something happening, and news about to be issued ?

Maybe Afren have finally realized SEY potential offshore Madagascar,
which is next to Afren onshore license area.

Also Afren should be able to buy SEY at a bargin price, having mind that SEY probably has more cash than its market capitalization, plus Afren may pick up some good staff.

Look very carefully where Afren oil find is - today's Afren news -
Afren are on shore Mozambique - Go a short distance to the coast to Sterling Energy shallow water off shore area - Ambiliome ( or something like - could be mis-spelt ).
Southern part of this SEY block is very close to Afren find, and likely to be a very very exciting SEY drilling prospect. SEY could have an interest in a few billion barrels here, "when" oil is produced ! You can buy SEY for a few peanuts just now.

It is still not too late for SEY to do a deal with Afren.

for starters, AFR don't have the money or management

Money is no problem - It could be a share exchange - I'll accept more AFR shares.
SEY have good management AFR could possibly buy / acquire.
It is about time AFR got a new Operations Manager -
their must be lots of qualified guys willing to take a job with AFR,
and AFR have already had a few months to sort that problem out.

Mocambique could be the next Kurdistan style oil producer, but without the Muslim problems ?

Dream on

ps Is Mocambique bay , up north

aldwickk

Sorry I meant Madagascar anyway -

Mocambique is the French spelling for "Mozambique". -
I used to work there on an aid project for a short time, and spoke a sort of French.

I now live in Spain where we spell it "Mozambique"
Are you one of those privileged sarcastic Southerners who think they are all
peasants "up north" ?

Thought SEY's was deep water and AFR on land, cost implications?

Seem to recall that I once held this stock at 11.5pence before the 40 for 1 consolidation, what's the price now?

20.5pence................. value share then!

They couldn't find oil in Halford's

SEY is there just to keep the directors in the luxuries hey have become accustomed to in my honest cynical opinion.

I was born in Stockport.,

I thought that Afren was at the other end of the Island ?

aldwickk
I was born in Levenshulme and lived in Stockport, Heaton Lane / Didsbury Road from the age of 1 to about 12 ( 1946 - 1958 ) - went to Didsbury Road School, then Dial Stone Lane, then Stockport College.
Where were you ?

No good telling them where a Halfords is aldwickk, they still won't find oil.

Maybe SEY should now buy out Afren or Kurdistan Afren !!!!!

Or even Madagascar Afren ???

Maybe rekirkham, I kind of wonder why they have gone back into Mauritania bearing in mind the company breaking prospects there. (I refer to Hardman Resources for one and the quick exit by Woodside and others from that area). The geology is described as difficult and yet in they go again. Must have a reason I just wonder if it is sound?

Chinguetti has failed to deliver as promised all those years ago and other great finds in the same blocks have failed to cut the mustard because of said geology.

Just thinking out loud.

poo bear
I understand and agree with what you write about Mauritania.
However SEY investment is only about £ 2.5m I think - so not major, plus I guess
the SEY CEO knows more about the geology of the area than we do, so maybe it is another thing we need to take on trust.
Remember SEY also have gone into Somaliland with Genel, and I wonder if any
progress is taking place there.
If SEY are still cash rich they may now be in a good position to buy into any licenses
that are on offer cheaply ??
It would be nice to see a bit of action from SEY

I think the thread title is wrong... should be the other way round....

LOL.

Yes, as you may be aware they do have previous for buying other companies, (2003)Mauritania Licenses used to belong to Fusion Oil and Gas till they made a cheeky hostile takeover bid and succeeded.

The upshot was not too bad as the FOG BoD went on to found Ophir Energy, the rest of that is history.

Funny to see the ebb and flow of these companies and their like over a long period, unless you were a holder as I was for some of that period
.

SEY were supposed to have many company making assets on the go then and along the line, and yet here we are still in exactly the same place 12 years later, except they and a few others have a massive share dilution attributed to them, the most striking in SEY's case being the 1 for 40 share dilution of a couple of years ago.

When I look back very few of the "......exciting company making ventures." by these oily minnows have actually done anything other than pay the BoD a usually handsome salary.