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

ok, now that is at least a full explanation of your view and it is appreciated.

the thing i don't disagree with the share drift on the lack of info, but i am more interested in the block trades a few days ago.

i really do think this name is worth keeping an eye on for the next few weeks and if the news is positive then i can see this finally busting through 15p

rgds
proptrade

Agreed deadfred & proptrade.

The price is following a similar trend to that just after the takeover of Fusion Oil.

Live in hope least we die in despair!

It must go up beyond the 15 p mark in my opinion.

In my book a definite hold and wait.

Glad I got in at the low yesterday, it seems to be recovering in line with other shares.

same here, i am quietly confident about this one...

Large volumes here suddenly.

there is something going on here...i am definately holding...

Up we go................

waiting for the breakout...

Up another .5p, someone will realise eventually this is underpriced. Till that time...................................................

See why now, not much activity today!

Mind you it looks like it may go up another .25p before the end of the session.

always helps when there is positive news about! i think 15p may now be conservative considering the announcement....

Sterling Energy PLC
22 June 2004





Early African drilling start heralds 'exciting period' for company



Oil exploration and production group Sterling Energy is entering an exciting new
phase with the start this summer of an exploration and appraisal drilling
programme offshore West Africa, Chairman Richard O'Toole said today.



'It promises to be an exciting period for us all', Mr O'Toole told shareholders
at the company's Annual General Meeting in London, at which all the resolutions
were duly passed.



Sterling will participate in up to 20 wells offshore West Africa, at virtually
no expense to the company thanks to 'carried interest' arrangements which leave
other partners to pay most of the cost.



The company acquired the West African acreage as a result of its successful 40
million takeover of Fusion Oil & Gas late last year. Since then, offshore
Mauritania, the Chinguetti discovery has been confirmed as commercial and the
potentially larger Tiof field has been discovered.



Mr O'Toole added: 'The early successes offshore Mauritania provide clear
examples of the potential that may exist elsewhere within our West African
portfolio, and we are looking forward to the drilling programme.'



Drilling on the first new Mauritania well is expected to begin in August.



The company is also planning an extensive Gulf of Mexico development drilling
programme of at least six wells, which aims to more than double production over
the next year. The first of these wells, on High Island A68, is due to spud next
week.

At last, some news.

You are on the ball proprtrade.

Looks like I would be a fool to sell too early on these.

The upside potential has always been good, and this statement alone goes to show exactly that.

I do hope they manage to find a nice field half the size of Cairn Energies more recent discoveries.

If they do I can retire!

Meantime I will wait for the developements.

I also have inteterests in JKX and HNR. Both long.

both decent plays.

i am holding SEY for a while and really think this has 2+ bagger potential. management have bought well and i think their aquisition and organic growth strategy has so far worked and been well recieved by the mkt.

another successful strike and we could see a cairn like move.

outside of O&E companies i am long ESY in the UK. My other interests are Australasian with some interesting O&E companies over there...

LONDON (AFX) - Sterling Energy, the UK oil exploration and production group
is to begin a drilling programme off the West coast of Africa.

In a statement to the company AGM today, chairman Richard O'Toole said
Sterling will participate in up to 20 well drillings with the costs being
absorbed by partners due to "carried interest" arrangements.

The new exploration follows the successful 40 mln stg takeover of Fusion Oil
& Gas last year, which resulted in commercial findings in fields offshore
Mauritania.

Drilling off Mauritania is due to begin in August while the company is also
planning a exploration programme in the Gulf of Mexico.

newsdesk@afxnews.com

i have just doubled my position at 14p. i know the drill results are a while away but i think the runup and media reporting tomorrow will see these beyond 20p.

i bought 10k's worth today, i used to work for an american outfit called diamond offshore in west africa, (angola 1999) i am fortunate enough to hold cairn aswell, the news of early drilling is very very significant, the area of west africa is now well known for vast reserves of oil, i have every confidence we've backed a winner, this share will be 15p by next week once people know the work has started, i think we are going to make a lot of money with this one.

well, we have never met on the board before, but i like you already!

interesting that you have first hand experience with the region, and i hope you are right. i always have more confidence in O&E companies when they have strikes under their belts and this fits the bill of a potential multi-bagger even with a 100m mkt cap (like cairn).

keep on buying..

rgds
proptrade

i was sitting on the fence with these waiting for news, today was what i wanted to hear, the oil companies are paying them to drill, oil companies are worrying and want these wells drilled and capped as quickly as possible, hence the early the start, the early the production and while the oil price is high , the more they can sell it for. oil is king at the moment at it's the oil price is heading higher in my opinion, the middle east, russia and world instability is music to the oil corporations ears.

so true, hopefully early success will see SEY spike in the very near future.

i think the aquisition of fusion has been an absolute masterstroke, that is the key to this company, also drilling in west africa can be relatively cheap in labour costs, drilling conditions are perfect, the sea is like a mill pond, i think the company should make more updates and give themselves more exposure to the media and potential investors, that is the only slight gripe i have, but it should take no more than 16-18 weeks to drill a well in africa, they could drill 2 by the end of the year.this share could go absolutely beserk.take a look at the link it's surpising how quickly the price can change, Cairn's share price at the time makes interesting reading.

http://boards.fool.co.uk/Message.asp?mid=8222238

Well proptrade,,there are more people interested than we both thought, and for the right reasons.

Thanks ramraid for your contribution.

I learn all the time.

I fortunately doubled my holding on the recent low, so now for me it is a waiting game.

Luck to all!!