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

Seen it thanks.

Nice one.

Go out to the shops for a while and come back to 20 posts, nice to see. Luck undies... Lol!!

Prop, as to your point re minnows being taken over by the majors, agree that it will happen IMO. As to who takes who and when will be interesting to see. Do feel that we are positioned well for a takeover at some time in the future. If we can double our production in the GOM next year then surely that would be attractive to someone. Throw in what happens in Mauritania, the increase in revenue from Chinguetti from 2006 and any other possible activity there. All adds up to a nice little asset to someone.

Also, we have other prospects in the pipeline for next year as we all know. If they come up trumps then that will only add to what we have already. Once consolidation in the sector begins, will be very interesting to sit back and watch the action.

Chilli beef and fried rice for tea tonight.

nice post gavdfc.

out for a big lunch at the RAC and then a bit if japanese this evening. i thing the december gastronomy is starting early!

Yummmm,haven't had Japanese for a long time. Must drag myself away from this screen. Roast chicken in the brick tonight. Do I just chuck it in that brick,SWW, or does it need anything special...bit of wine perhaps?

Cheers Prop.

Hope you enjoy your gastronomic lunch.

Here's a snippet from Westmounts Finals yesterday, made good reading, hope it makes your lunch taste better:

"Over 90% of Sterling's production comes from gas in the Gulf of Mexico where
Sterling's proven and probable reserves have been stated as 60 billion cubic
feet of gas equivalent at 30 June 2004 with current production rates of around
10.5 million cubic feet of gas equivalent per day which equates to approximately
15 years of production. Sterling has reported that detailed preparations are
underway for drilling further wells and workovers during the next eighteen
months with the objective of more than doubling United States production."

So, currently we have 60bcf of gas for 15 years production at 10.5mcf per day. As the statement says, "objective of more than doubling United States production."

So if we double output, thats 120bcf for 15 years supply, or 21mcf per day. Quite a lot of gas being produced in the GOM. I'm sure someone will like that.

sandrew 64;- untie the chicken legs from that bandy thing.

Soak the lid in water for 20 minutes before putting in the oven.

No liquids required you will see why.

You can either, put some galic if you like it inside the bird, or put a rasher of bacon each person on the chicken within the brick.

Keep the lid on at all times while cooking except when you want to see what is going on.

If I were cooking for 5pm, I would put it on a slow heat at around 3pm say S if gas.

After a while check how things are doing. 1 hour

You should see fluid from the bacon and the bird or just the bird.

Around 4pm have a look see, if it is still white ish to look at turn up the heat to gas 4, but remember to look at it again in 30 minutes. It should then be cooked but there is no immediate rush to get it out of the brick.

Turn the heat down to minimum and cook the veggies.


About 10minutes from serving, check that you have enough fluid for gravy and make it.

Either keep the fluid or pour it off to make the gravy with, or tip it away. My dog like that pojnt of cooking, he gets some in his dinner.

Five mins from serving get the bird out of the dish, I use fish slicers as they are broad and will keep the bird together, put it onto a board but be aware that fluid will still seep out.

Serve as desired. Itv will be the best you have tasted.

Its great.

Oh if you do roasties, you can put the bird at the very bottom of the oven while it goes up for them to be cooked, the bird shlould be done by that point anyway and the extra in the oven won't hurt provided you keep the lid on.

If at any point you are unsure of cooking at the low heats, turn it up, but watch for the wings sticking to the brick, that is a sign it is cooked.

A check also is to poke it with a sharpe knife above the leg if fluid comes out, it's cooked, if its blood, its not.

Nice.

I might be missing the point here but if SEY have had to issue new shares to raise the 97m (amounting to 41% of the new combined shares in issue) won't we then see a drop in the share price on the 19th to match this dilution of the market cap? Obviously I'm hoping not. But isn't this a fundamental matter?

Of course, if the sp does drop it will represent a new buying opportunity.

mmmmm sounds great SWW. I no longer feel agrieved at missing out on Japanese.

Don't mean to put a downer on the thread.

StarFrog as the issue is several times oversubscibed it is very unikely to fall all imo etc, disclaimer, disclaimer, disclaimer, disclaimer,

Smoked bacon is best!!

Coooo, DES nearly back to where I bought in earlier.

Wont buy in a falling stock.

Not necessarily, StarFrog, because they're priced for earnings growth as opposed to simple asset value. Within the equation you also have to include the prospective earnings enhancement from the Mauritania deal.

Ultimately, the share price will move on the balance of supply and demand for the stock.

sww - i hope you are right, although another buying opportunity would be nice.

StarFrog - good luck to you if you do.

As a long term holder, the variance does not affect me at these prices.

hilary, sww - thanks for the reassurance. I get worried too easily sometimes. But I'm also in for the long run.

Afternoon all,,i am in ,,18.10,,lets get the brews on.

Welcome dave. Now do you have a recipe..... :)

Welcome DD

gave up on your 15p target then!!!

Welcome Dave.

18.10 is not a bad price, did you see the Shares Mag item above a few posts?

Here it is again.

Shares Mag(SEY) - 18.25p BUY

Old favourite Sterling remains a buy having first been tipped at 6.5p on 24 April 2003 and updated several times since - most recently on 13 May 2004 at 15p.

One wet hole one dry hole from the Mauritannian drilling programme looks reasonable but the big reason for buying the shares is the revenue sharing deal which will allow Sterling a bigger slice of revenues from the Chinguetti Field by funding the governments 12% stake at a cost of 97 Million.

The ease with which Sterling raised the money through broker Evolution speakes volumes for it's City standing. The 30p target next year remains bright, probably achieved through being taken over. The PE should fall to 16 in 2005.

Cheers all,you have made me feel very welcome,thanks,should be a good trip..
Sw ,i have just read you bit,as to the share mag,,no post man here yet,,its still early .
Fundy gave up on 15,,bit to much much to ask i think,,,cheers easyjet!!