Sterling Energy (SEY)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

9.15p
   
  • Change Today:
      0.15p
  • 52 Week High: 12.25p
  • 52 Week Low: 8.50p
  • Currency: UK Pounds
  • Shares Issued: 220.05m
  • Volume: 2,893
  • Market Cap: £20.13m
  • RiskGrade: 187

Sterling Energy narrows losses in first quarter

By Josh White

Date: Wednesday 25 Apr 2018

LONDON (ShareCast) - (WebFG News) - Sterling Energy issued its interim management statement and financial results for the first quarter ended 31 March on Wednesday, as trial line 2D processing remained ongoing at the Odewayne block in Somaliland.
The AIM-traded firm said that on the corporate front, the search for a replacement CEO was also ongoing.

Its board was also retaining a continued merger and acquisition mandate for growth, with both asset and corporate options apparently on the directors' radar.

Adjusted earnings before interest, tax, depreciation and amortisation, and exploration expense (EBITDAX) losses narrowed to $0.48m from $0.78m a year ago.

Its Loss after tax was down to $0.5m from $1.2m.

Net cash to the group as at 31 March stood at $47.3m, almost half the $88m it had at the end of March in 2017.

"Following our full and final exit from Mauritania on 26 January, through termination of the Chinguetti Funding Agreement, Sterling is a cleaner and simpler platform from which to grow the business," said chairman Michael Kroupeev.

"Trial line 2D processing initiated by Sterling over the Odewayne block in Somaliland is showing encouraging signs and we will use the data to further develop our understanding of the asset potential ahead of a drilling decision.

"I look forward to updating our shareholders in the coming year as we seek to maximise our value proposition."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sterling Energy Market Data

Currency UK Pounds
Share Price 9.15p
Change Today 0.15p
% Change 1.67 %
52 Week High 12.25p
52 Week Low 8.50p
Volume 2,893
Shares Issued 220.05m
Market Cap £20.13m
RiskGrade 187

Sterling Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
32.86% above the market average32.86% above the market average32.86% above the market average32.86% above the market average32.86% above the market average
24.73% below the sector average24.73% below the sector average24.73% below the sector average24.73% below the sector average24.73% below the sector average
Price Trend
60.18% below the market average60.18% below the market average60.18% below the market average60.18% below the market average60.18% below the market average
10.89% above the sector average10.89% above the sector average10.89% above the sector average10.89% above the sector average10.89% above the sector average
Income Not Available
Growth
64.23% below the market average64.23% below the market average64.23% below the market average64.23% below the market average64.23% below the market average
86.89% below the sector average86.89% below the sector average86.89% below the sector average86.89% below the sector average86.89% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sterling Energy Dividends

No dividends found

Trades for 19-Feb-2020

Time Volume / Share Price
14:34 250 @ 8.73p
10:25 319 @ 8.73p
08:01 2,324 @ 8.73p

Sterling Energy Key Personnel

CEO David Marshall

Top of Page