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

Looks like everyone is having a lie in.

As I can't take the pressure of holding SEY up any longer, I'm off.

I will have a look at the bounce later, because that is what it will do!

The Tiof 4 hole is an appraisal rather than exploration so as the words imply, there is oil there, but how much is the question?

Enough to fill my 3 in 1 or more?

All imho dyor fsh & gsoh etc........

DD this isnt going to move much until later in the month once the placing has occurred -but watch it then!!!

I think you mite be right steve,if i buy it must be around 15 pence,,minimal risk,,3/5 years hold ..

Sw what price did you enter at ?.

Morning all, not the best start to the day after sleeping in! Wake up to a not so good drilling update! Shows the risks of oil explo shares though.

Famous last words as the price starts to tumble!!!

FACT - this is a free carry hole.
FACT - 18 more free attempts
FACT - SEY has not incurred an exploration loss

get real here, tis is a drill PROGRAM. sure it would be nice to strike now but there is a multitude of other attempts.

the move today is an overreaction with a placinig supposedly completed

Well pointed out there! We all wish that every hole will be a good one, but that will not be the case in reality. Need to look at the bigger picture and what other activity is in the pipeline. And there is plenty of other drilling to look forward to.

Price starting to move back up now.

Picked up a few more on the drop - personally think its as close as we will be able to get to the placing price

Nervously topped up

Avocado salad tonight

Dave I bought in at various prices, my original price was included in Fusion Oil & Gas.

I had 52K of those at 36p. They were devolved after the takeover at 3.5 shares Sterling to 1 Fusion. That equated to 11.5 pence per share. That made 185k shares of Sterling.

I have kept a holding since but have bought in and out with lumps of stock.

I have bought in even recnetly at 19.something pence.

It don't owe me anything but I am not yet playing only with the profit.

My current holding is less than it was at the time of the takeover but is worth much more.

Heavens above!

We thought we had problems???

Have a look at what PMO lost this morning on the news.

Not hit bottom yet by the look, down 42p!!

SWW, according to L2, SEY, HNR and PMO all down between 6 and 7.5% ish. Seems like we're all getting whacked! Did you take up your L2 trial?

No to L2.

I am in no rush.

Thanks for letting me know though, I had not noticed.

No probs. I think it runs out next Friday. Don't know if I would pay for it every month, probably not as I don't really trade. But if I did trade a lot I probably would use it.

Hopefully we should be getting the Tiof-3 results soon, perhaps next week. As we turn to the weekend, I guess everyone's thoughts are turning back to food and wine!

From Killik's morning note today:

"For reference, the impact of this news on Sterling Energy (which, as a partner in Mauritania is currently raising 97 million to help the local government back into the Chinguetti field) should be very limited. Their fund raising is to help the developed proven and probable (2P) reserve of Chingeutti. The 2P reserve is estimated at 139 million barrels and this will begin production from the beginning of 2006 with 75,000 barrels a day. The cash flow will allow it to repay debt within two years. Naturally, the partners in Chinguetti will be less than delighted of the Governments now ability to buy back into the field, diluting everyones interest. The news today comes on the day that Sterling are pricing the new issue."

sounds good. SEY is the best of the bunch!

Indeed it does sound good Prop. So if production in Chinguetti starts early 2006, then we should see the additional cash flow from this deal in the Interims of Sept 2006.

Can see why the partners in Chinguetti are "less than delighted of the Govt's now ability to buy back into the field, diluting everyone's interest"!!!

not ours! (except the 97million placing!)

Yep! I would imagine that HNR, PMO and ROC were a touch peeved by this deal!

Whilst all the talk recently has been of this deal and Mauritania in general, we also have other projects to look forward to next year. Cameroon, Gabon, Guinea Bissau and increasing production in the Gulf of Mexico. Lots to keep us occupied here.