Member Info for Isengard7

only because this looks ready to break out on the chart.

unfortunately missed out on it though.

Got my AGM voting paperwork yesterday. Fairly standard stuff nothing out of the ordinary.

this company is very similar to CHAR. So I wonder if a similar rise will occur here as well. there was a lot of volume on april 6th.

Hi Troajan, what is you see in the chart for SEY?

i wonder if its starting to wake up now.

cash resources almost $100m . good enough for me.

yeah not bad. just trying to win my losses back lol

Given it 135p. Looks quite attractive.

RNS out for Annual financial report. Good to see its maintained its cash pile and remains virtually debt free. Also interesting to see it mention the possibility of project debt if early production justifies it.

I remember at the time GG said he was in LEK. I can't stomach another Nigerian oil company. Its got a robust looking balance sheet.

the company and its finances are managed very prudently unlike most mining and resource companies. If I didn't know any better I wouldn't think this was an AIM company.

from the interims it looks like a dividend cut could be likely as earnings per share was 5.37 cents (3.8p per share) and dividends per share was 4.5p. which makes it not sustainable. But I speculate that copper prices will recover and EBITDA along with it and Dividend yield will recover. A long term prospect.

is up on the website.

Hi Peteb, good points there. Share price bottomed out at 43p. Interestingly the tangible net asset value per share is also around 43p. (essentially just removing the £140m intangible assets) So its interesting to see that the market has given it strong support at that price level and I don't think that is a coincidence. I agree I may have been too critical on the debt levels. As the current assets cancels out the current liabilities. Also a big chunk of the non-current liabilities. to go back to the market cap being bizarre I think in terms of valuation I always take intangibles out so i reckon market cap is about right.

Yeah I am accumulating here in SEY as well as CHAR and PMG. difficult to call the bottom on these and crude oil so just taking my time to build up decent holdings in these. not much activity on the bulletin boards for these stocks. but good time to buy in before the herd come in.

Shame to see them relinquish the C3 licence offshore Mauritania. at least the withdrawl it won't incur any costs. Still got C-10 and that has proven basin. "The withdrawal from Block C-3 does not impact SEML’s interest or activity in Block C-10 and SEML look forward to working with Tullow to mature the existing portfolio and finalise the planned well on Block C-10 for 2017." If they can get this well done in 2017 and POO recover in 2017 also could bring this forgotten stock back to life.

wrong board this is Sterling. But I am also in Chariot and Parkmead. I like these oilies with massive cash piles and little or no debt.

$50m a year due to bi annual interest payments at 8.25%. and then full repayment at maturity in 2020. essentially drain and suck the company dry.

But they got bondholders. $300m notes. Start of a slippery slope. I hate companies that use bond finance as the bondholders essentially have a tight grip on the company's genitalia.