Sterling Resources (SLG.V) Buy, Sell or Hold

Sterling Resources (SLG.V)

4.51

+0.19 (4.40%)

as of Jun 10, 2026, 6:39:36 pm Market Open.

14 watching

SELL

Had assets in both onshore and offshore in Romania and offshore in the UK North Sea. Fabulous natural gas discoveries in both places. Also an oil discovery that they are doing some delineation work on now. Target is $5, close to the current price. Waiting over a year for government approval on both offshore sites. This bothers him. Sold his holdings.

BUY

Have done a great job. Will hopefully be able to drill up some of their larger targets in the North Sea and bring them on to production. A lot of upside to the story. Just let it play out for the long term.

WATCH

Starting to drill Grian gas well. Also working on Cladhan where they will do 3 horizontal legs. 2 are into the reserves (where they had got 100 million barrels of reserve for 3P) to see if there is more. 3rd will be going into the Fan (?) system, which will potentially add 50 million barrels. Own 30% of the play. His $5 target is not far away and he would like to see a massive increase of reserves in Cladhan as well as government approvals of North Sea projects. Sold his holdings.

DON'T BUY

UK North Sea. Mostly exploration/development so you won’t see production for some time. Needs exploration success for the stock to go up. Very good chance of hitting in their development wells in Cladhan (?). Also drilling in Romania. Will need capital so expects there will be a new equity issue.

COMMENT

Will be having the most active drilling period in the company’s history. Made an oil discovery in the North Sea last year, which he is hoping will be 100 million barrels gross. Expecting a 25% upside in the stock. (Reducing his weighting.)

HOLD

Stock has been stagnant because they did a recent financing. Likes the story long-term. Will be drilling some large oil targets in the North Sea over the next 6 months or so. A lot of CapX involved but Risk/Reward is good.

BUY

Active drilling program starting in Feb/11 in North Sea. Just raised capital and it was very oversubscribed. Very extensive position in France, a hot oil shale play.

BUY

An exploration story that is actually working out. Recently hit a 5900 BOE well. Still a lot of upside left. Won't go into production until mid to late 2012 but with their drilling program for the next 12 months you can get more upside.

BUY

They now have no production, but the largest natural gas discovery off UK coast in past 5-10 years. Their interest in it is worth $2.50 a share. They are now fully funded. They also have another asset worth $1 a share. Likes the assets and the management. 2 years until first gas.

BUY

Has owned in the past and is revisiting it. They have properties in the north sea. Likes it a lot with the production profile. Likes the prospects for the stock.

STRONG BUY

Finally getting closer to first gas from their Breagh discovery in the North Sea. This alone is worth about $2.50. Drilling several prospects around this site, which could tie back to their platform in 2011-2012.

WAIT

Nice run from the lows. This is a company that has two nice discoveries – UK and Romania.. Should have production Q1 2012. Could be a $5-6 stock in 2012. Could take profits at these levels. Buy below $1.25

HOLD

Really likes the far- out that they did a month or 2 ago. Still has lots of upside and have reduced the downside considerably.

BUY

(Market Call Minute.) If you have a longer-term view on exploration upside because they have some exciting prospects.

WAIT

Has two very big discoveries. Romanian project will start production in 2011, as will UK project. He is in the process of reviewing this stock. Target used to be $2-$3.

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Sterling Resources (SLG.V)