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

The sun is shining here in the S.E. a really lovely autumn day.
Gav' it's no good trying to sell your kidney it's too full of the amber nectar. I've been trying to sell my willie for years and last night some one gave me one SEY share for it. Well I took the offer knowing in 2 years time it'll be worth 3-40. I only wish I had a million willies.

MS

From another site.

MS

whats going on?
i'll tell you whats going on, Institutions are picking up 510 million shares at what Killick and co think will be close to 19p and they are in.
WHY?
because Sterling are about to become the strategic partner for the Mauritanian government not just for Chinguetti field,but for all future developments.
the loan will be repaid and Sterling are to get 70% of the revenues!

Mickey, LOL!!! Have decided to keep my kidney since as you say, it's been well used! Shrewd deal you did for 1 share, quids in by 2006!

i love this thread...willies and all.

anyway, i agree there is a load of shenigans doing on but i am sure someone has a line of borrow out there. may also be some rollovers in the mox as well.

It's all happening here! At least no one can say that there's no action here. Think the 60k was a rollover and a lot of the unknowns at 18.88 look like buys to me. Would expect us to get more publicity next week in Shares and IC.

loads of mentions this weekend. gotta be!

Have a look at PXC guys, if you want more excitement!

Hopefully the Sundays will be all over this. Breakfast in bed with a good write up for us!

Chili beef with noodles and sweet chili sauce for tea tonight. Could'nt let the day go by with at least some reference to food!

PTH - Seems to be some volume over at PXC.

Gav, you're not kidding! Having a very good day today and SEY has settled down nicley. Couldn't hope for a better start to the weekend!!

Regards

PTH

Couple of big trades just went through.

Could not get on all day!

Bloody kids ha;f term!

have I missed anything?

SWW, Lol, kids taking the pc away from you! Not really missed much though. A few trades of interesting size at 19. Couldn't find any new news. Rumour as to what the placing price is. Fun and games as usual! Next week will be fun, looking forward to it as always!

Have a good weekend all!

Thank you all.

have a good one!

Hope everyone's having a good weekend, lots of wine and good food.

Received the October Email yesterday from Hargreave Hale, they rate SEY as a buy at 19p both in the short and long term. For short term they view that a 3 months and long term 1 year. It's a PDF file so can't copy and paste to here.

Bangers and mash today.

Not at all conventional though.

Tesco Finest made with smoked bacon and garlic.

I cook them in the chicken brick with causes an aweful lot of fat to come out, and serve with the good old King Edwards spuds.

I par boil them, and finish them in the microwave in a covered bowl, mash, mix with butter and milk season with a little pepper and serve.

Nice.

No wine today, having a day off so it's lemonade from Aldi at 25p per 2 litre bottle, best I have tased ever, and cranberry juice. Aldi sell that too very cheap but I do prefer the Ocean Spray trade mark.

Oh, nearly forgot.

Thanks for that Gav.

todays SUNDAY TELEGRAPH EDMUND JACKSON.


The right of first refusal in capital raisings is a key aspect of the intrinsic value of shares. Or so it was defined by founders of investment analysis such as Benjamin Graham, who was a key influence on Warren Buffett, the multi-billionaire investor.

Yet nowadays, managers and brokers barely seem to understand what these "pre-emption rights" mean. If a company has a truly exciting investment opportunity, you can bet brokers and institutions will snatch all the equity offered.

It is hard for me to be fair. I admit that in some cases, a board may need to move swiftly and there might simply not be time for a rights issue. Capital may need affirming quickly, and it may be hard to estimate private investor demand for new shares.

Occasionally, after I have criticised in this column preferential treatment meted out to the City in cases where I myself own shares, companies have become more respectful of individuals.

An example of my concern is Aim-quoted Sterling Energy, which raised 97m with institutions - against a market value of 152m at 19p a share - it feels like existing owners are being cut out of the deal. It is commonplace for a discount placing to be arranged, for the benefit of directors as well as the City.

To criticise Sterling is a bit unfair because its opportunity - to take a stake in the Chinguetti oilfield offshore Mauritania - has serious potential. It may have been difficult to agree this conditionally without an indicative commitment of cash.

But as a defender of the interests of private shareholders, I am not altogether sympathetic. Sterling has cited its "close relationship" with the Mauritanian government, with which it is in partnership. Each time a company acts like this, the City knows what it can get away with - and it becomes even harder for private shareholders to have their rights respected.

A few years ago Warren Buffett made a point of raising capital when he had no acquisitions in mind. His rationale? Attractive long-term interest rates were on offer and Buffett's foresight enabled shareholders to be treated as genuine partners. Obviously, the great man was able to do this on his reputation, but all the same it re-affirmed the pre-emption rights that modern finance ignores.

It may be irksome for private shareholders in Sterling to have to pay a premium in the market, but this is small beer compared to the kind of risks they must be prepared to face for putting their money in volatile oil exploration shares.

Of course, soaring oil prices mean the timing is opportune for such ambitious fund-raisings such as Sterling's. The shares are a "buy" - but beware.


On the ADVFN thread EJ has clarified that with regard to the beware bit he was referring to oil prices but this was edited out

Fundy,your bang on with this statement from the telegraph,the real deal cuts out the private investor,fact..
For me its just a case of sitting & sniffing ..

gavdfc,

Re post 1265. Hargreave Hale are probably taking umpteen million shares in the placing at 17p or whatever the price happens to be. It's a no brainer that they're going to say buy at 19p.

Shall I put the coffee on?

Hilary,

Sad but true!

LOL!