Sterling say cash flow will increase by 400% in 2006

How did SEY provide the money for the loan to the gov?

I see it is for $130 million. Is that the amount loaned? The government seem to have to repay their share of current and past drilling and exploration costs. Does this mean that SEY will receive a share of this too.

With regard the Chinguetti field what are the costs to SEY of bringing it to production. From my calculations the field will flow for 5 years at 75,000bpd so a prospective p/e assuming this is the only commercial venture (i know gom is too) must be capped at 5.

I know lots of questions and i am reading through trying to get up to speed but would appreciate any wisdom.


I held WME and then FOG as the potential seemed great, but it seems I was just to quick. I got in after the hype just after the first hole was drilled (Chinguetti) but the second came up dry and the price crashed. Then they dropped for 12 months. I got out even eventually after averaging down.