Member Info for Linton78

Picked up a few more this at 48.5p odd, another 8k shares to complete the holding. 70 days to drill the well means results when?

They seem bullish on this well .... CHAIRMAN'S STATEMENT The most exciting event since the 2012 Annual Report is the spud of Bamboo-1, Sterling's first exploration well on the Ntem Concession, offshore Cameroon, targeting a primary objective that may contain some 450 million barrels of oil equivalent. During 2013 Sterling and Murphy Oil, our joint venture partner, finalised the well's location and prepared for the drilling operation. Reprocessing of the 3D seismic dataset for Ntem indicated that significant horizons, with the potential to be hydrocarbon filled, were located in the Ntem block away from the area subject to the overlapping border claims of Cameroon and Equatorial Guinea.

Around 50p at results in this market - but that's a complete guess to be honest. I think this drill has really gone under the radar of most PI's and with oil shares on AIM having an awful run thats understandable. I like the management at Sterling these days and the portfolio is very promsing. This drill itself could be the game changer for Sterling!

retrace back to 44p on the cards here?

I'm expecting news only at target depth from Murphy as operator, so first or second week of April perhaps?

That's exactly the way I am looking at it - *hopefully* this is a fresh start for Sterling. I got in at 52p so I missed the bottom with Sterling with cash tied up elsewhere but I wanted to get in before this drill result was announced. The Bamboo prospect looks interesting the more I look at - although there is relatively limited information available. Nearby discoveries are encouraging and I am hoping we do not hit gas but manage to strike oil in one (or more!) of the sections on the way to TD. GL - it will get interesting in a few weeks time!

Interest in this drill it seems. Sterling have under performed for years through bad luck and poor management, but this is the first real drill under new management. The reason AB joined Sterling ahead of other oil co's was the interesting acreage - Cameroon being one of these high potential licenses. Let's wait and see but this could take the market by surprise if successful... Around 2 months to wait before TD is reached now.

SEY are drilling in deeper water close to the source rocks (see Sterling Website) - on paper this looks a fantastic drill............... http://investors.nobleenergyinc.com/releasedetail.cfm?ReleaseID=360991

Murphy has 50% interest and operator –Experienced in deep water drilling operations –Planning for first well in 2014 targeting a potential **600mmbbl prospect > Notice that Murphy has assigned 600mmbbls as the target

Tricky - its finger in the air stuff here but your predictions - both upside and downside seem very realistic to me. There is the potential that this drill be transformational for Sterling (and my share dealing account) :-) if they hit oil in the primary taerget. The 3D imaging on Sterlings website looks very promising.

The speed with which this has been spudded and only estimates for the primary target is very interesting. Both Sterling & Murphy know alot more than they are letting on about oil potential and CoS on this well IMO. I snapped up 9,400 odd shares yesterday so happy to let these ride on the drill result. GL all.

pigeon1 10 Feb'14 - 17:09 - 5702 of 5712 1 0 Anyone got detail on the size of prospect and COS? I note rns states that the 450m is just in the primary target - suggesting that there are additional target(s) on the way down - anyone got any colour on that? thanks and good luck.. Wbodger 10 Feb'14 - 18:52 - 5703 of 5712 1 0 Big. CoS: well, how long did it take Murphy to get a drill spudded? Pretty keen, I think. Check out the Presentation from November hxxp://www.sterlingenergyuk.com/pdf/presentations/2013-11-01_Investor-Presentation.pdf Page 7: "Potential of several hundred million bbl unrisked prospective recoverable resource". Page 9 answers your other questions. But beware, still an active boundary dispute between Cameroon and EG.

You may have seen this... always a pinch of salt with analyst targets as ever but from these relatively low levels and a strong balance sheet this is a big target Sterling are drilling. With the Emerald Energy management in charge who would bet against the company now turning around? http://uk.finance.yahoo.com/news/stocks-news-europe-uks-aim-164358612.html

Tricky - I have been thinking about that all afternoon! One broker report / analyst quote on AVFN states that a discovery of 400mbls could be worth up to £5 a share for SEY. What I do want to know though is how much oil is estimated to be in the whole structure across the numerous fans? Reading the RNS again it appears 450mbls is in the PRIMARY TARGET, so what about the second and third target.....? I e-mailed Sterling this afternoon and they were tight lipped - something tells me that this figure could be conservative. So to answer your question I don't know but when you have a cash underpin and are free carried on what could be a 10 bagger... that's worth a punt surely?! What's you view?

Gents - Just bought back in here for the Cameroon drill. I will be keeping a close eye out here as the drill progresses. The risk / reward looks good. GL all.