Sterling Resources (SLG-X) Stock Predictions - Stockchase
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Sterling Resources (SLG-X)

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Sterling Resources

SLG-X

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Sterling Resources (SLG-X) SAVE Dec, 31, 1969, 7:00 pm

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SELL
Sterling Resources(SLG-X) 

April 22, 2016

A fabulous story. Had a big discovery in the UK North Sea. They brought it on and volumes ramped up. The problem is that the debt was so significant that they couldn’t work out an accommodation with the debt holders, who are in the process of taking over the company. The remaining equity shareholders will end up with 3%-4% of the company. If you own, just walk away and take your lumps.

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A fabulous story. Had a big discovery in the UK North Sea. They brought it on and volumes ramped up. The problem is that the debt was so significant that they couldn’t work out an accommodation with the debt holders, who are in the process of taking over the company. The remaining equity shareholders will end up with 3%-4% of the company. If you own, just walk away and take your lumps.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.010
Owned Owned
No

PAST TOP PICK

(A Top Pick April 14/14. Down 77.08%.) Likes the company and now owns some. Involved in a play in the North Sea and production is now up and running and doing over 6000 BOE’s a day. Pricing in the UK is fabulous relative to Canada where they are getting over $8 Canadian for their gas. Stock came down because they have debt that put on for developing Breagh, and that debt has payments twice a year, April and October. The balance sheet didn’t have the money to make the next payment, so the market was afraid of the debt issue. Sold some assets in Romania, and are going to get paid in June. He thinks the stock 2-3 years from now, could potentially be $1+.

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(A Top Pick April 14/14. Down 77.08%.) Likes the company and now owns some. Involved in a play in the North Sea and production is now up and running and doing over 6000 BOE’s a day. Pricing in the UK is fabulous relative to Canada where they are getting over $8 Canadian for their gas. Stock came down because they have debt that put on for developing Breagh, and that debt has payments twice a year, April and October. The balance sheet didn’t have the money to make the next payment, so the market was afraid of the debt issue. Sold some assets in Romania, and are going to get paid in June. He thinks the stock 2-3 years from now, could potentially be $1+.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.170
Owned Owned
Yes

WATCH

He does not average down into a name.  He would prefer to see it break the downtrend. 

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He does not average down into a name.  He would prefer to see it break the downtrend. 

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$0.550
Owned Owned
No

TOP PICK
Sterling Resources(SLG-X) 

April 14, 2014

He owned it in the past.  Significant discovery in the UK north sea in 2010.  Then he felt there would be delays and recommended selling it.  In Q4 2013 they brought it online.  They get a rig to start with this month.  Under 2 times cash flow.  Another field comes on Q2, 2015.  The management is on a road show this week in Canada.

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He owned it in the past.  Significant discovery in the UK north sea in 2010.  Then he felt there would be delays and recommended selling it.  In Q4 2013 they brought it online.  They get a rig to start with this month.  Under 2 times cash flow.  Another field comes on Q2, 2015.  The management is on a road show this week in Canada.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.720
Owned Owned
No

TOP PICK
Sterling Resources(SLG-X) 

November 15, 2013

Stock fell as they were having problems with new production. There is condensate in the play, which is good, because you are going to get a higher value product but they have to get the facilities tweaked to handle that. Feels the company will be doing about 7000 BOEs a day, for the average of next year and doing cash flow of $0.38. There is lots of upside from the exploration in the UK North sea plus you get for free the discovery they made in the Black Sea in offshore Romania. They don’t have the capital right now to move this forward but have found a large amount of gas there, potentially trillions, and they have 65%. Looking for a partner on this play. His target is $1.60.

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Stock fell as they were having problems with new production. There is condensate in the play, which is good, because you are going to get a higher value product but they have to get the facilities tweaked to handle that. Feels the company will be doing about 7000 BOEs a day, for the average of next year and doing cash flow of $0.38. There is lots of upside from the exploration in the UK North sea plus you get for free the discovery they made in the Black Sea in offshore Romania. They don’t have the capital right now to move this forward but have found a large amount of gas there, potentially trillions, and they have 65%. Looking for a partner on this play. His target is $1.60.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.710
Owned Owned
No

BUY on WEAKNESS
Sterling Resources(SLG-X) 

August 21, 2013

Used to be a big fan of this stock 5-6 years ago at around $0.80-$0.90. Then it went into the mid-$4 where he thought anything over $4.50 was a Sell. Have had a number of problems bringing on the Breagh Field offshore in the United Kingdom. The market is saying “show me”. The volumes that come on may be somewhat less than what the Street is looking for. The last couple of wells have not been as prolific on the testing. There should be $0.20-$0.30 of cash flow once they are running in 2014 on an annualized basis, so the stock is pretty cheap. Still lots of reserves to be found in that area. Also, have other assets, especially offshore Romania where they have had some big discoveries. Would be a Buyer on the tax loss pressure. His target is about $1.25.

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Used to be a big fan of this stock 5-6 years ago at around $0.80-$0.90. Then it went into the mid-$4 where he thought anything over $4.50 was a Sell. Have had a number of problems bringing on the Breagh Field offshore in the United Kingdom. The market is saying “show me”. The volumes that come on may be somewhat less than what the Street is looking for. The last couple of wells have not been as prolific on the testing. There should be $0.20-$0.30 of cash flow once they are running in 2014 on an annualized basis, so the stock is pretty cheap. Still lots of reserves to be found in that area. Also, have other assets, especially offshore Romania where they have had some big discoveries. Would be a Buyer on the tax loss pressure. His target is about $1.25.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$0.590
Owned Owned
No

BUY
Sterling Resources(SLG-X) 

September 25, 2012

Big fan of this company. In the process of bringing on the Brea field by the end of this year. They own 30% and a big German utility owns 70%. Also, going to start doing some offshore drilling in Romania. Stock has had a bit of strength recently. He has a $2.50 target, based on his view that a year from now they will be ramping up production from the Brea field and then maybe doing phase 2.

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Big fan of this company. In the process of bringing on the Brea field by the end of this year. They own 30% and a big German utility owns 70%. Also, going to start doing some offshore drilling in Romania. Stock has had a bit of strength recently. He has a $2.50 target, based on his view that a year from now they will be ramping up production from the Brea field and then maybe doing phase 2.

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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.400
Owned Owned
No

BUY on WEAKNESS
Stock has been hammered. In August they are going to bring on the natural gas Brea field in Europe. European natural gas prices are much higher than in North America. Stock is languishing because 1) everyone is waiting for production, 2) costs are about 17% higher than they predicted and 3) it has been delayed by about a month. He has a $3.32 target. Below $1.25 would be a table pounding Buy.
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Stock has been hammered. In August they are going to bring on the natural gas Brea field in Europe. European natural gas prices are much higher than in North America. Stock is languishing because 1) everyone is waiting for production, 2) costs are about 17% higher than they predicted and 3) it has been delayed by about a month. He has a $3.32 target. Below $1.25 would be a table pounding Buy.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$1.600
Owned Owned
Unknown

HOLD
Sterling Resources(SLG-X) 

January 24, 2012

Slight premium to what North Seas are worth. Don’t yet have production. Will have cash flow in 4-5 months. May have to raise capital.
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Slight premium to what North Seas are worth. Don’t yet have production. Will have cash flow in 4-5 months. May have to raise capital.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$1.880
Owned Owned
No

BUY
Sterling Resources(SLG-X) 

November 30, 2011

Had some pretty disappointing results in an oil accumulation called Cladhand (?) but at $1.76 you are paying for very little upside beyond a couple of aspects, cash and their gas discovery Brio (?), which is coming on stream in 2012 plus Cladhand, which is worth about $1.50-$1.60. Also won a fight with the Romanian government which could be worth $1.50.
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Had some pretty disappointing results in an oil accumulation called Cladhand (?) but at $1.76 you are paying for very little upside beyond a couple of aspects, cash and their gas discovery Brio (?), which is coming on stream in 2012 plus Cladhand, which is worth about $1.50-$1.60. Also won a fight with the Romanian government which could be worth $1.50.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$1.760
Owned Owned
Yes

HOLD
Sterling Resources(SLG-X) 

October 13, 2011

Sold his shares at around $2.30. Finally getting to the point where it is stupidly cheap. Hold until the fundamentals of this market actually matter as opposed to perception. Risk/reward looks pretty compelling and he is tempted.
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Sold his shares at around $2.30. Finally getting to the point where it is stupidly cheap. Hold until the fundamentals of this market actually matter as opposed to perception. Risk/reward looks pretty compelling and he is tempted.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$1.360
Owned Owned
No

DON'T BUY
Sterling Resources(SLG-X) 

August 16, 2011

One of their drill results was far less than expected. Will require more drilling and funding. In a fight with the Romanian government over property rights. Trading below core value but there is no catalyst to get people excited.
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One of their drill results was far less than expected. Will require more drilling and funding. In a fight with the Romanian government over property rights. Trading below core value but there is no catalyst to get people excited.
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Eric Nuttall

Partner & , Ninepoint Partners...

Price Price
$1.370
Owned Owned
No

DON'T BUY
Had some poor results and in this market environment no one gets the benefit of the doubt. Will take the market a while to recover. Stocks like this tend to be in the penalty box for awhile so would look elsewhere.
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Had some poor results and in this market environment no one gets the benefit of the doubt. Will take the market a while to recover. Stocks like this tend to be in the penalty box for awhile so would look elsewhere.
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Andrew Cook

, Andrew Cook and Asso...

Price Price
$1.790
Owned Owned
No

SELL ON STRENGTH
Half value is in Romania and half is in UK North Sea. Problems getting go-aheads from Romanian government and going into arbitration, which will take a long time. Doesn't have go-ahead on the Brea field plus the last drill on Cladhan wasn't very good.. AGM is next week and hopes to hear good news. $1.50 on the downside if they don't get UK going and maybe $3.50 upside.
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Half value is in Romania and half is in UK North Sea. Problems getting go-aheads from Romanian government and going into arbitration, which will take a long time. Doesn't have go-ahead on the Brea field plus the last drill on Cladhan wasn't very good.. AGM is next week and hopes to hear good news. $1.50 on the downside if they don't get UK going and maybe $3.50 upside.
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Josef Schachter

President, Schachter Asset Mana...

Price Price
$2.700
Owned Owned
Unknown

BUY
Sterling Resources(SLG-X) 

April 29, 2011

2 exploration plays in the North Sea as well as Romania. Preparing to drill the very sizable Cladhan field in the North Sea. Net Asset value just on the producing asset is about $3 so feels the stock is very attractive here. Romania will take a few months to play out.
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2 exploration plays in the North Sea as well as Romania. Preparing to drill the very sizable Cladhan field in the North Sea. Net Asset value just on the producing asset is about $3 so feels the stock is very attractive here. Romania will take a few months to play out.
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Alice Tsang

Portfolio , Marquest Asset Manag...

Price Price
$3.930
Owned Owned
Unknown

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