anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

Bought more at 52p = Price seems reasonable to me considering upward potential and down side risk.

I think SEY still has probably around 35p cash in their bank if nothing found at Bamboo well, Ntem - . and Murphy Oil are picking up initial drilling costs.

If a couple of hundred million barrels oil and some gas found as SEY's half share,
then upward share price could be over ??? £4 per share ??? and then other Ntem wells.

( valued as oil equivalent in ground at ? $3 per barrel,could it be worth $800 million to SEY ????? - has anybody any more scientific guesses )

What is a reasonable oil find success rate ???? 20%
Down risk to 35p cash in their bank, and up potential over £4 per share
and say 20% success chance.

At current share price - Loose 30% - Gain 500% - 80% risk of downside and 20% risk of upside ?

I have held SEY for over 4 years. - exciting days ahead for next two months while drilling, may at least see share price up to 70p if you do not want to stay for the "kill",

Creeping up - now a buy at 53.50p

bit of ramping going on here £4???? do you need to recoup some earlier spending???

Yes - a lot. But honestly at an interesting drilling stage now with Ntem and Murphy

Price now buy at 56p

Has dropped back to buy 50p - but now more buyers than sellers - for a change
Drilling off shore Cameroon / Guinea should be finished about 20 April
They say could be 450 m boe - 50% I think is for SEY
SEY market cap presently about £110 million
What is 225 m boe in the ground worth - not all would be recoverable
Lets hope they find something -
but they say oil /gas has been found to the south and north

Interesting speculation just now

Big gamble here....could double in value if the seismic is correct...but it's mighty risky....don't bet the house on this one...

http://www.offshoreenergytoday.com/murphy-spins-drill-bit-offshore-cameroon/#.Uyw7h40itkw.hotmail

Cash in bank at 31 March 2014 = £71.5 m
Market capitalisation now = £62.5 m
Therefore £8.5 m more in bank than total company is valued

The downward risk should be limited, as cash in bank is worth more than Company capitalisation !

Pity they did not find oil off shore Cameroon, but still some possibilities
I will hold still ( been a holder now for about 5 years ) and am staying in SEY, as the management now seems more experienced and hopefully it will only be a matter of
time before we, the patient, will come across some good news and happier days

Sunny again in Benidorm today -

Its raining over here...

Something funny going on ????????
Why up nearly 50% in the last couple of hours ?????

Sorry not SEY it is our old friend AFR

StockMarketWire.com
Sterling Energy has issued its Q3 interim management statement and financial results, the highlights of which are given below:

- Production, net to the Company (including royalty barrels) from the Chinguetti field, averaged 351 barrels of oil per day ('bopd') (Q3 2015: 303 bopd).

- Adjusted Earnings before Interest, Tax, Depreciation and Amortisation and Exploration Expense ('EBITDAX') loss for the Group of $992k (Q3 2015: $2.1 million loss).

- Loss after tax of $420k (Q3 2015: $1.6 million).

- Cash (zero debt) as at 30 September 2016 of $91.0 million.

- Somaliland 2D seismic campaign expected to commence Q2 2017.

- Efforts to recruit Non Executive Directors following resignations on 13 October.

- Continued mandate to execute M&A driven transformational growth (both corporate and at the asset level).

- Ongoing focus on capital discipline, through G&A cost reductions.

StockMarketWire.com
Sterling Energy said third-quarter losses deepened as the Chinguetti oil field in Mauritania neared the end of its life.

A net loss of $4.3m compared to a $420k loss in the 2016 third quarter.

Production from Chinguetti, net to the company, averaged 188 barrels of oil per day, down from 351 bopd on-year, ahead of the planned cessation of production on December 30.

At September 20, the company held net cash of $83.1m.

"The primary focus of the company over the last 18 months has been to continue to originate, conduct full due diligence and ultimately execute transformative growth driven M&A projects in North Africa and the Middle East," Sterling said.

"The company remains confident that it can identify and source the right asset led or corporate solution to drive growth and shareholder value in the near term."

" corporate solution to drive growth and shareholder value in the near term."

...they can make their mouths say anything!