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

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



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Haven't felt less than better personally, I see the SP is starting to recover now. The Traders will/have jump(ed) ship, and the investors will take their places. No doubt the placing will attract a significant discount on the current SP, but if you were coughing up 97 mill you would probably demand that. Barking not to. I'm going to stick these in a drawer and have another look in a years time.

Regards

PTH

bigger picture boys and girls...

ok, this wasn't the oil major tie up we were hoping for but lets put this in perspective. SEY is pitching up to play along with the big boys...management wants to transform the company and lets face it that is accomplshed organically and by acquisition and investment.

they have struck a deal for the longer term and all i can say is that i am in it for the long term and this deal will be a company transforming one. who seriously cares if the stock is wobbly for a while. the only clarity i would like it what level the placing will be at - try and get access somehow...

How do we find out what the placing will be.

MS

Proptrade morning , its been a up /down sort of morning,no position as of yet 15 is the magic number for me,but will be calling in from day to day,good luck all.

Prop, agreed. Investors need to look at the long term and to where the company is going to. As I said earlier, for those of us in this for the long haul, I do believe this is a good deal.

Perhaps what spooked some earlier was not knowing the price of the placing, or maybe not the deal they had been hoping for.

cheers...my guess is that the placement will be a bookbuild just because of the size versus mkt cap. i think 15 to 16 is around the level it will settle at from experience. there must already be an indication of interest from an anchor because you don't undertake something like this unless u have checked the mkt quietly beforehand.

Thanks for that Prop. I wouldn't have thought that the City would have got in on this deal unless they thought it would be a good one. I will be adding some more once everything settles down a bit.

Me too.

MS

Hi all, I have been lurking on this thread for a while I am in at 18.5 and spotted this link posted on advfn suggesting a figure of 17p

http://www.guardian.co.uk/business/story/0,3604,1336614,00.html

Do you suppose we will get a take up offer or will these go straight to the markets? Might have known the price would fall in the short term....it always does as soon as I top up again! Long term I'm sure these will rocket!

thx for the link. the guardian probably has it right, they would have heard it from brokers involved. if that is the case then happy happy days. put this is perspective, we may be diluted but the mkt is obviously in agreement with the continuing fortunes of SEY and their management.

Some interesting observations on advfn. Have a look.

MS

Sandrew, we won't get to see any of the new shares. It says in the RNS that the 97m will be in a placing to the institutions. Would have been nice to get some though, but would have taken a lot of time I think to set up for us to get them. I remember Kenmare did something similar early this year for retail investors, buy 4 new shares and get 1 warrant free. But of the top of my head it took quite a few months to sort out.

Shame....usually a good chance for a bargain!

If the news in the Guardian about the placing price being 17p is correct, I wonder if we will actaully get anywhere near that with a view to buying more? Any thoughts anyone.

sagem
The MM's love people like you

not really...obviously this has been well researched otherwise we would be deeply discounted by now. expect the price to move closer to 17 (and maybe slightly below) by Nov 20th. only because of the overhang issue. the reason why we are holding steady now is to reflect the potential premium concerning the drill programme. good news. there is a chance we could even see 20 soon and the issue be hugely oversubscribed....

there is a chance we could even see 20 soon and the issue be hugely oversubscribed....

Proptrade - won't the amount and the price already have been agreed with the purchasing institutions? How could it be oversubscribed?

not sure if it is a bookbuild or set price...of course if 17 in the fixed level then it will be first come first served but what will be key is how quickly the stock is placed. if there is/was appetite for more then these will bound through 20.

proptrade - and wouldn't it be in the co's interest to place as few shares as possible at the highest price? It would certainly be in my interest!