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

COMMENT

Have different projects. The problem is they recently raised money at 15% interest rate and will probably need to raise more in the future to advance their projects or else sell a portion of their assets. Based on where he expects the price of oil to go, their assets are worth a lot.

DON'T BUY

There are a lot of small players in the Breagh field and they are trying to bring in either a larger energy producer or a large utility to be a buyer of the natural gas on this play. 70% is for sale. Probability is that production will come on in 2011 or 2012. Also have a play in Romania that Melrose (?) is running for them. Not doing any drilling in the near term.

COMMENT

Access to capital for all of the international smaller plays is basically nonexistent. This is one of only 2 oils that he kept. Well diversified. Have cash. Some of their assets are so big that they could farm out some of it.

COMMENT

Enormous drilling success in offshore Romania and the UK North Sea. The problem is, they have found a fabulous amount of reserves but how do they get them out of the ground without spending a ton of money. Have enough cash to survive until the markets open up and they can get enough cash to complete the projects.

BUY

(Market Call Minute.) Affected by the credit crisis right now. Very cheap.

BUY

Natural gas. In the process of drilling a very important well and will hopefully have news in the next few weeks. They will then go back and drill others.

BUY

(Market Call Minute.) It's about 1X cash flow so definitely a Buy.

BUY

Gas exploration primarily in the UK. Likes the company a lot. This is not a great market for exploration companies. Strong believer in this company.

TOP PICK

Drilling offshore Romania and UK North Sea. With these 2 projects by 2012 they could be doing 20,000 a day.

COMMENT

One of the best names in the UK right now. Huge potential. Takeout value could be a double.

TOP PICK

(A Top Pick July 20/07. Down 1%.) By 2010 they'll be having first production from UK and offshore Romania. He has them ramping up to full production of 30,000 BOE's by 2012. Will start drilling in July.

BUY

Had 3 successes with the drill bit. Partnered with Oilexco (OIL-T) in the North Sea on the Sheryl play, which could add 3500 BOE's a day. Have also had 2 gas successes, Breagh and Doina where they will do more delineation drilling. In the 4th quarter it will be drilling another exploration well in the North Sea. Hold for 3 or 4 years. There should be quite a bit of upside.

WATCH

Chart shows a bullish wedge pattern, higher lows with a resistance point at the top. The breakout level would be about $2.90. If it breaks above that with volume, it will go higher. If you own, start reducing your position if it goes down to $2.30 and out completely below $2.

TOP PICK

They have had 3 successes so far. Thinks cash flow in 2011/2012 is greater than today's stock price.

TOP PICK

Just announced a success on offshore Romania. If they bring their 3 projects into production, they could be generating cash flow greater than the stock price.

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Sterling Resources (SLG.V)