bobsson
28 Jul 2016
RNS Interim results RNS today, same old story, little or no progress and looks like Cameroon will be next on the exit list. There may be drilling in Mauritania 2017 and Somaliland in 2018. Still nothing on the M&A front.
bobsson
21 May 2016
May Investor Presentation There is a new May investor update presentation on the SEY website. Current next drilling looks to be Mauritania in H2 2017. As previously stated I think Cameroon and Somaliland look poor assets and any activity is a long way off. That leaves the prospect of new projects, although the use of newspeak jargon in the presentation leaves it unclear (to me) exactly what they plan to do with the near $100 m cash pile. I note a director of SEY is also a director of Circle Oil (COP) who currently have producing assets (Egypt looks good), and are in a financially distressed state. Such distressed assets may be of interest to SEY.DYOR
FTSEGecko
13 May 2016
Fracking approved in North Yorkshire village Work on the site moved a step closer after a report by North Yorkshire County Council recommended permission is granted for testing on deposits first identified in the area by Third Energy
bobsson
11 May 2016
RNS Chairman leaves Executive Chairman Alastair Beardsall has left the Board for personal reasons. The Board has been freshened up with new faces. There looks to be some corporate action in the offing here, perhaps by the end of June (16).AB still on the Board of JPRL as I post.sp around 16.5pDYOR NAI
GRAMPSAV
28 Apr 2016
Re: Shocking lack of effort. This BOD has no idea of how to achieve Shareholder value.They have been devoid of good business ideas for years even with adequate finances to move the business progressively forward.Do all shareholders a favour and resign.Selling this company and its assets including its cash for the benefit of Shareholders only is the only wayShareholders will reap any value.Ah well we can all dream.
bobsson
28 Apr 2016
SEY exiting Madagascar As anticipated SEY is exiting Madagascar by dropping the remaining Amilobe block. I expect Cameroon and Somaliand will not be far behind.Interestingly the CEO states they want to be "focusing on shorter cycle revenue generating assets". So it looks as if SEY are working on a farmin or acquisition of a producing asset., look forward to news within two months.See todays RNS. Sp around 16.25pDYOR
ICB888
18 Apr 2016
Shocking lack of effort. The market cap is £36.5 million but the cash in the bank is nearly double at £69 million. This has been so for years in which time the directors have essentially done nothing apart from draw their salaries. In most companies they would be removed for such lack of effort or would do the honourable thing and resign. If you can't invest the cash give it back to the shareholders.
bobsson
22 Feb 2016
New Investor Presentation Now on the company website, most of the prospects are "frontier" so odds of around 100/1 for success. The prospects look weak to me, a lot of drill or drop decisions soon to be made. I can see Sterling exiting from Madagascar and Somaliland, after data set interpretation, and being thrown out of Cameroon, which is probably good as the prospect looks poor following the initial duster. They may have something in Mauritania but drilling there a long way away. So why not buy up distressed assets in a distressed market? So come on Board do something with the cash!DYOR
osammyboy
16 Oct 2015
Re: Something Brewing? Or rather how long? Are they actually doing anything?
IAmShareCrazy
05 May 2015
Re: Something Brewing? The question is how high?
chipswillis
05 May 2015
Re: Something Brewing? You might be right there IAmShareCrazy. She's creeping north today.CheersChips
IAmShareCrazy
04 May 2015
Something Brewing? Not much actually as previously announced by company, yet. They have cash in the bank and plenty of licences. Money flow indicators have been pointing up for a while. Some good volume in recent months. Bollinger bands tight, I can see a price spike coming![link]
bobsson
01 Apr 2015
Re: Large Trade at low price ICB, Unfortunately no clue other than perhaps an inter institutional investor transaction.What I do know is that SEY has lots of cash and little oil reserves and no immediate or short term means of discovering any. Whereas a virtual sister company JPRL ( similar large ii`s and Director) is struggling to stay afloat because it has no cash or cash flow due to depressed oil prices. JPRL already has around 100 million barrels of C2 reserves with potentially more to find.A SEY farm in to JPRL or a merger of the two looks sensible to me, but not sure of the legal niceties concerning all the cross shareholdings.Would welcome any sensible views from posters regarding this.
ICB888
31 Mar 2015
Large Trade at low price The volume is high today for SEY largely down to a single trade of 1,350,000 shares at 15p which is well below the spread. The sp however closed up at 17.5p. It looks odd. Does anyone have any explanation?
Wordbodger
19 Feb 2015
Re: Investor Presentation The map of C3 suggests the licence is huge. "This shallow water block lies in an underexplored area of the Mauritanian shelfal region that has seen very limited drilling and seismic acquisition". As junior partner they could be forced to pick up 40% of Phase 2 and 3 obligations which include 700 sq km of 3D seismic and two wells. Not cheap but would only do so if the 2D seismic looks promising.Tullow is the partner. I'm not sure if Tullow itself isn't a better play on a recovering oil price (and if oil doesn't recover it doesn't matter).I'm feeling pretty vulnerable here. I would like them to spend the cash on some solid production at rock bottom prices, and go exploring with the cash flow.
