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

stock continues to climb, up 3/8ths....

Sterling Energy (LSE: SEY.L - news) 15-1/4 up 1/2
Evolution 'buy' with 20 pence target


http://uk.biz.yahoo.com/040705/323/exc4k.html

I do believe they are reading our bb to get that target!!

lol

Can't believe people selling these at the moment for less than 15p!

Way of the world I suppose.

Ooops

Lots of healthy trades today, i.6m bought so far.

Price as always remains the same(???)

Sterling Energy PLC
05 July 2004


Sterling Energy plc ('Sterling') is pleased to announce that Woodside Energy Ltd
('Woodside') has today announced the start of its 2004 offshore Mauritania
drilling campaign in West Africa.

Sterling owns a royalty interest over a 6% interest in PSC B and will hold a
royalty interest over a 3% interest in PSC A following a Declaration of
Commerciality in PSC A. This is as a result of the transaction between Fusion
Oil & Gas and Premier Oil, announced on 28 May 2003, and Sterling's subsequent
takeover of Fusion.

Joint Venture partners Premier Oil plc and Hardman Resources Limited have also
issued releases today.

Highlights of the programme are:

Three exploration wells in PSC B, Tevet, Capitaine, and Merou; Premier
Oil's release today suggests that the latter two are potentially of similar
size to the Tiof discovery.

Two exploration wells in PSC A; Premier Oil's release suggests that one of
these is of similar size to Tiof, whereas the second is a higher risk, but
potentially significantly larger feature which extends into PSC B.

Up to four appraisal wells will be drilled on Tiof, one of which will
include a production test.

11 development wells (including up to 6 producing wells) will be drilled as
part of the Phase 1 development of the Chinguetti oil field commencing in
4Q 2004.

All of this programme will be carried out at zero cost to Sterling.

Sterling will be due a discovery bonus from Premier once each field greater
than 50 million barrels is declared commercial, of $2 million in PSC B and
$1 million in PSC A.

The Woodside release reads as follows:

Woodside approves major drilling campaign in Mauritania

Woodside Energy Ltd., a wholly-owned subsidiary of Woodside Petroleum Ltd., is
about to embark on its 2004 offshore Mauritania drilling campaign in West
Africa.

The campaign will involve the drilling of up to 21 exploration, appraisal and
development wells across offshore acreage containing the Chinguetti, Tiof and
Banda oil and gas discoveries.

The exploration and appraisal program will commence in August 2004 and continue
until the commencement of Chinguetti development drilling in the fourth quarter
of 2004. The program will cover one commitment well, the Dorade prospect in PSC
Area C2, up to five exploration wells in PSC Areas A and B and up to four
appraisal wells on the Tiof discovery.

Work is continuing on finalising the prospect drilling list. The exploration
wells to be drilled in PSC Areas A and B are expected to include the Tevet,
Capitaine and Merou prospects with additional wells yet to be confirmed.

The development drilling program on Chinguetti will commence in the fourth
quarter of 2004 and will involve up to six oil production wells, four water
injection wells and one gas injection well in the Phase 1 Chinguetti Oil
Development (PSC B).

'The exploration wells will target Miocene objectives, similar to those of the
successful Chinguetti, Tiof and Banda discoveries and seek to identify other
potential production opportunities,' said Woodside Chief Operating Officer,
Keith Spence.

'The development and appraisal drilling is designed to assist the timely
delivery of our recently approved US$600 million Phase 1 Chinguetti Oil
Development and to further appraise last year's exciting Tiof oil discovery.'

The campaign will utilise two deep-water drilling rigs, the 'Stena Tay' and '
West Navigator', that will work in tandem and operate in water depths ranging
from 300 metres to 1,700 metres. The rigs are expected to continue in
Mauritania on development, exploration and appraisal drilling into the second
half of 2005.

Equity interests in Woodside's operated permits in Mauritania are as follows:


Company PSC A PSCB PSC C2
Woodside Energy (operator) 53.846% 53.846% 48.0%
Hardman 24.3% 21.6% 28.8%
BG 13.084% 11.63%
Premier 9.231%
Fusion Mauritania A 4.615%
ROC Oil 4.155% 3.693% 3.2%
Energy Africa 20.0%


For further information contact:

Harry Wilson, Chief Executive, Sterling Energy plc: 01582 462 121
Nigel Quinton, Operations Director, Sterling Energy plc: 01582 462 121
Allan Piper, First City Financial Public Relations: 020 7436 7486
07736 064 982


This information is provided by RNS
The company news service from the London Stock Exchange

Hi folks, i really interesting day for news regarding sterling . I think we can safely say this company has a very bright future. That fusion oil * gas looks to have been a clever and well timed takeover bought on the cheap. I now believe everyone should fill up there boots(big ones) with Sterling Energy shares. Chief Exec Harry Wilson must be rubbing his hands or licking his lips if he's in the pub tonight "Cheers Harry".

well said bowman!

momentum building. must have been mentioned somewhere with all the buying sizes....

proptrade,

yes, over 2.6 million shares traded alreay today!

The price is currently up 1p (6.4%) to 16.5p MID.

thx for the comment Andy, i thought i was all alone today!

must have been tipped somewhere. lovely story!

Possibly yesterdays broker tip to buy with 20 p price target.

Hi proptrade, just come in from running the dog.

Nice surprise.

Good Morning Andy

greyhound?

No, German Shepherd Dog.

Running the dog is a technical term for people in the Dog World for exercising them.

He is the brains of our outfit in that he picks the stocks and I buy them.

i like that. at least my stock picks are in good company!

In thsat case you and he did well here.

He has just connected Tullow Oil with African Energy, they are a 20% partner in the Mauritanian Adventure.

Tullow swallowed African Energy a month or so ago.

The stock has not yet reflected that.

As the price is down today, I may have a little nibble.

U.S. stock futures lower as crude prices rise
Tue 6 July, 2004 14:21

(Updates futures, adds new comments)

NEW YORK, July 6 (Reuters) - U.S. stocks futures pointed to a lower opening for Wall Street on Tuesday as investors worried about corporate profits following a jump in crude oil prices.

In addition, chip stocks could be under pressure after Conexant Systems Inc., the third-most active stock on the INET electronic brokerage in early trading, lowered its quarterly earnings forecast.

U.S. light crude rose in the first electronic trading since the weekend sabotage attacks on Iraqi oil pipelines cut exports. Crude prices, at $39.21 in New York, are also being pushed higher amid concerns about possible disruptions to Russian and Nigerian supplies.

Crude oil is a component of almost every sector of the economy, including manufacturing and transport, and higher oil prices immediately erode corporate profits.

"I see the markets starting off down because crude oil is down, Weston Boone, vice president of listed trading at Legg Mason Wood Walker in Baltimore said. "Geopolitical events are weighing on the market, and in addition we are starting earnings season -- so the question is will profits be as rosy in the second quarter?"

S&P 500 futures for the September contract fell to 1119.80, or 4.68 points below fair value.

Dow Jones industrial index futures fell 44 points, while Nasdaq 100 futures slipped 12 points.

"The reason why we are down today is the continued unrest in the Middle East and the prospects that energy prices do not seem to decline," John Person, head financial analyst with Infinity Brokerage Services, said.

"After last week's Fed rate hike, higher oil prices and slower economic indicators such as the jobs number will be the real issues investors are faced with right now," Person added.

Democrat John Kerry's decision to appoint North Carolina Sen. John Edwards as his vice presidential running mate was seen as slightly negative for the market.

"I think its probably positive for Kerry which is therefore probably negative for the market ... Wall Street is traditionally a conservative community," Boone said.

xmortal, what is your view of SEY?

Same as last week, the price is being held back by the profit takers.

May slip back 1/4 today, but the price of oil ha spiked apparently, maybe that will hold it.