Sterling Energy. Water,Gas or Oil?

KRG Coat of Arms of Kurdistan Regional Government

Miracles don't happen in real life! Caution.

So just what’s going on over in Kurdistan at Sterling’s’ Sangaw1 drill? That’s the question that investors have been asking. The ill-fated drill has encountered more problems and delays then investors care to remember.

There’s been several hundred emails asking for an update/opinion. So here’s one!

There are rumours floating around that hydrocarbon shows have been encountered however I would urge extreme caution. The sp is reacting to this but the facts are thus.

The chances of Sterling hitting oil at Sangaw are 1 in 10 although the company would have you believe that the recent gas shows actually increase the chance of finding oil. No they don’t. What they do increase is the chance of hitting more gas! It’s becoming obvious to all involved that there is some thing down there in the Jurassic/ Triassic sections of the drill but to all intents and purposes the chances of it being oil are low, there’s more chance of a water find here then there is oil although 1 in 10’s do occasionally come in I would tend to stay well away from the stock,  past Sterling history is littered with cock-ups.  It’s looking increasingly like a gas deposit from where I’m sitting and this is reflected in the current market price of the stock. I could be wrong and hope I am.

Let’s hope for the sake of all those long-suffering Sterling Holders that the water metamorphoses in to oil.  The whisper is It has happened before although that was water to wine! Coin-Flip at best!



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  1. Jon Nash says:

    please can you provide some thoughts on Encore?

  2. Pilesh says:

    Hey Dan,

    Whats going on with Encore, they have oil but why the huge movement in the SP?

    Is just greedy day traders and market conditions???

    Best regards

  3. Mark says:

    Desire did manage to change oil in to water but that was only on paper.

  4. SolaKing says:

    Comment on Encore please!!!
    Hi Dan,
    Please if you don’t mind, could you kindly comment your opinion about Encore shareprice “madness” after today’s RNS? I personally cannot see why the SP should be below 100p considering what they have already found. Or am I missing something?
    Cheers, SK.

  5. stevie says:

    mail mans been

  6. King Kurd says:

    I think they have oil shows further down, news soon.

  7. Encoreeeeeee

  8. BrianBrian2 says:

    ENCORE……….. It could be just a heavy handed market maker or an excuse to give advantage to some deserving fund manager with substantial funds to play with……. I reckon it will be interesting to see what the buys and sells have to say at auction later today.
    Mind you, the above statement may just be a figment of my over ripe imagination, which never ceases to be amazed at the little Idiosyncrasy’s dreamed up by the MM.

  9. edcremin says:

    Any news on san leon dan?

  10. Michael says:

    Hi Dan,

    Any news on Victoria Oil and Gas VOG? We have been waiting so long for the licence and when I contact VOG I kep getting the same ‘it’ll come but we don’t know when’. I am worried about the cash burn that must be happening and eating away the reserves.


    • SolaKing says:

      Mike, you were actually prophesying to yourself and you did not realise it was just 12 hours away. Now you need ask no more. Well done for holding.

      • Michael says:

        Thanks SK, very pleased at the moment with myself. So much bull been talked over previous 8 weeks but we got there in the end 🙂

  11. Bill says:

    Dan, Is Encore Oil still one of your favoured companies after the latest RNS about Cladhan?