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

Dave, best to treat that information as suspect then!

The post on ADVFN said that his broker had reported by phone those deatils yesterday, i.e price, restriction on amount of shares to to them as 53% of request, and therefore over by 2:1.

The was no provenence with that post so there was no way of checking.

There has been a fair amount of ramp, deramp on this stock innuendo reigning supreme on other bb's. Not too much here I would like to think.

I see what you are both saying, and in the end it really is not that important for long term holders of which I am.

Lets stick to what is known then, 17p placing, underwritten by Evolution.

Nice early lump buys up to 18.75p at 08.27p today.

From the Guardian.co.uk:

"Sterling Energy, the oil exploration group focused on West Africa and the Gulf of Mexico, firmed 0.25p to 18p amid talk that its 97m equity fund raising has been struck at 17p and was several times oversubscribed.

Traders claim a number of high profile institutions, including RAB Capital, have signed up and the shares will fly as the company puts the money to work in the Chinguetti field in Mauritania."

Thanks gav, suppose that answers that!

Thats better , after all we all live in the real world,,damm 17 it is then.

Whats a few pence between friends,,,,,,,have you got a fiver i can have ?

Here, have enough for 10k........

I suspect that once gav's item gets out, there will be a sharp increase in interest in this stock.

I have no idea if that will mean an increase in price in the short term, but give it a month..........

Lol Dave, here's that fiver you asked for! Spend it wisely now!

Agree with you SWW, I'm not sure where the sp will go in the short term. I guess we will find out over the next few weeks, but I wouldn't think it would go below 17p. But then again, we are in this for the long haul so short term movements not a worry for me. But a quick move up is always nice!

Time for a cuppa.

Time for a walk.............

Time for work for me but a good day so far, in Filtronic too which has risen
19p yes and so far up 7p today... : - )

From Killik's morning note:

"STERLING ENERGY Placing details

Sterling Energy has secured the 97 million required to fund its Letter of Credit to the Government of Mauritania to allow it to buy back 12% of the Chinguetti field. After an intense round of presentations to institutional funds, it has raised the 97 million we hear very comfortably. Placed at 17p, the new shares will list from the 19th November."

morning all, sorry for the late start....

17p, we were all right on that front. the underwritting by Evolution looks a moot point but i would say the idea is, if it is indeed oversubscribed already, is just a city ploy to add support and confidence until these commence trading.

the facts are that Evo have seen this is a winner and have symbolically put their name to the placing. good for them and great for the share price. tactics, gotta love them.

Morning everyone,back home again. Trying to catch up on all the posts. Just a cup of tea....cupboards are bare.....ah hah....the freezer!

Call it feminine intuition if you like, but I would guess that EVO have done a deal with SCAP to help them control the price while they shift stock.

evo has simply given the shares a floor until the 19th. they are probably patting themselves on the back underwritting the issue but if i had been there I would bloody well underwite it.

Oh its very tight for time now,trying to sell some but the prices are going south,,,come on give me some blue.

I am looking at 17,,,,,,,who knows,,,,will i be in?

maybe....but i wouldn't hold your breath!

Don't think you will see 17p.
18p buy is the best at the moment I think.

Oversubscription means the stock will sell at a premium.

Good luck to you.

Thanks boys for that!

suck it up...pay 18!