anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

SWW, you are a man of many talents. i was hoping to see a picture of you merrily preparing a feast for us all. your culinary skills are becoming the stuff of legend....they will before speasking your name eons after SEY is taken over by BP at 10.40....

Don't own any SEY yet -am waiting for funds but do enjoy the food fun! I'll let you all know when I 've taken the plunge. Watch the Spring tides on your wall SWW or the dog might go for a swim! I am a nuts and seeds eater a la Dr Gillian-boring boring!! Regards MP

proptrade thank you for that!

10.40 is a bit conservative don't you think?

If it weren't for the seawall I would have a worse weight probelm than I have!!

mp nice to see you here.

No problem with nuts........... takes all sorts!!

I am a bit camara shy, but if I can work the oracle, I will try to post a piccie of the sea wall and dog, hopefully not swimming!!

Good observation mp, it is that time again!

Or one of a nice lunch!!

sorry for all the typos today, too much Chianti................ hick!

well the 10.40 was just a rough back of the envelope calculation. sorry if i am a few basis points out.

by the way how big will your Monaco pad be when they hit 10 quid?

SWW, thanks for the explanation re the Schlemmentopf! Seems like a very handy piece of kit, might look at getting one. Would think that doing a roast in it would be tasty, or a nice roast duck! Had a look on Ebay, none in the UK but some German sellers have got auctions on them starting at 1 euro.

Thought I'd post a couple of snippets from HNR's statement out this morning, hope no one minds, makes good reading!

"Mauritania (Tevet Oil Discovery): The first exploration well to be
drilled in the 2004 programme, Tevet-1, has intersected a gross hydrocarbon
column of 114 metres, comprising a 70 metre gas leg and a 44 metre oil leg.
Hardman holds 21.6% interest in the Tevet discovery."

"Mauritania (Tiof Appraisal Drilling): The Tiof-3 appraisal well has
intersected a gross oil column of 134 metres. This result is in line with
pre-drill predictions and the well is being sidetrack drilled to obtain core
samples and to flow test the reservoir."

sww

I'm not as lucky as you having chicken. I'm still sucking on that old bone the dog did'nt want only this time it's washed down with a very large G&T.

MS

what a happy coincidence, you found a bottle of gin and one of tonic in the same dumpster!

Can't talk.......................

.................................eating!!!!!!!!!!!!!!!

Got this from an other BB. I think the guy who wrote this is pretty well right.

Well we are only about 4% up on last week's share price and yet SEY is arranging a company transforming deal. A deal so big that the company cannot afford it from their very healthy cash flow from the Gulf or Mexico. A deal so big that a rights issue would not do the job either. And a deal so attractive that the city is coming up with the funds. Those selling today ( and there aren't that many as yet) are being very very short termist. The shares the MM's rake in today will be sold for a great deal more at some point not too far away.

As a poster said earlier - long term holding is the way to make the really big money in oil exploration stocks.

MS

PT

How did you know?

MS

Mickey, Just think, by next year you can move on from just that old bone to maybe a whole side of beef! ;-) I do think that those of us that hold rather than trade will be the winners here. But each to their own, holding rather than trading is my style, especially with an oil company.

An interesting article on Oil here. Saw the piece on Channel 4 news earlier.


http://www.channel4.com/news/2004/10/week_5/26_oil.html

Interesting article gavdfc..but won't opening up Iraq make a big difference to supply and ultimately price...I know we are still some time away, but thinking more long term.

Hi Sandrew64,

Yes no doubt Iraqi oil would help in the supply to the market in the long term, but as far as making a big difference to price and supply I don't know about that. It seems that the Saudi's are pumping pretty flat out as it is, so how much more can they increase production. Yes, Iraq's oil will help with supply, but what about increased demand from China, India etc. The USA certainly doesn't want to decrease it's consumption, and either does the rest of the world. India and China are growing significantly, so surely they will only use more oil. Also, China seems to be building a strategic reserve, much in the way that the USA has done. The Saudi's make noises about increasing output, but have they actually done it, or do you think they will?

Also, what about the USA's ability to actually refine oil. No new refineries have been built in years so that is also a long term problem. Throw in the affects of hurricanes, strikes and trouble in Nigeria and what does that do to supply.

As to the oil price, I do believe that $20 oil has long gone and the world has to get used to higher oil prices. Will it be the spot price of $55ish that we see now, or will it fall back before rising again over the long term. I think it will rise in the long term, but the spot price will fall. But ultimately, I do feel cheap oil has gone. Some argue that there is a terrorism preimum in the spot price and that it is high due to speculators. They are probably correct to a point. Terrorism has raised the price, but do you think that this threat will go away? Look at Iraq, the country is a mess, will it be brought under control soon or turn out to be another Vietnam.

Matthew Simmons, who was interviewed in the piece on the news was asked about the Saudi's ability to supply the future increased demand for oil. His answer was, from my memory, that there was more chance he was living on the moon in 2025 than the Saudi's finding new fields that would meet increased demand.

So perhaps more focus will be put on oil producing fields outside of the middle east?

Anyway, these are just some of my thoughts. I'm sure someone more knowledgeable than I could write a book on world oil demand/supply/consumption.

Cheers

Gav

Evening boys / girls,,,,how`s it been today.A small drop but not enough for me yet,but i am waiting.

considering they have said they are about to make an announcement I am not sure you will get any more downside.This could be viewed as a good price in a few days time . I admit i do not know when they are going to make the announcement but you feel it is imminent from their latest comment

Proposed Placing of New Ordinary Shares and investment in Mauritania

will go up today on news announced.

Morning all,typical a blue day and i am not on board yet dam..