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

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.

I think it has potential and the trend is up, thats the main point. Also its portfolio is excellent. I think SEY perform very well at least to the beginning of its drilling season, and providing that oil price keeps above 38$

In terms of high risk/high reward at the moment I like PCI and HNR. PCI cos is drilling a well supposedly to contain 400m barrels and easy to extract (apparently)plus JV in massive oil deposits of oil in the adriatic sea and some rumors that may be enteringin Mali, Algeria and Libya (massive oil and gas reserves) Then Hradman Resources, they have around 20 wells to be drill plus a JV with RAB capital and Falkand Islands Holding in the Falkland Island.

SEY is equally good. If I had moeny. i'd place a punt.

nice to hear....i think once drilling starts these will be 20+

big volume day, with size buyers at the close. v good to see

Here we go again.

Oil futures hit one month highs
AFX
Crude futures edged towards $40/barrel on supply disruption worries

Supply disruptions in Iraq, Nigeria, and Russia pulled crude futures closer to $40 a barrel to their highest level in a month. August crude is at $39.25 a barrel, up 86 cents on the New York Mercantile Exchange.

Iraqi output was halved over the weekend following sabotage to some of its pipelines, Nigeria suffered from a workers' protest and Yukos, a key Russian oil company, faces the potential for an output halt because of the need to pay more than $3 billion in back taxes. August heating oil and unleaded gas are each up more than 1 percent.

Morning all,

Just found this little piece on Sterling:

Sterling Energy, the Aim-listed gas company, gained 1 to a year high of 16.5p as traders said the management was meeting investors.

Found it in the Telegraph this morning.

Cheers

Gav

cheers Gav... shame i didn't get the call for the meet and greet!

Never mind proptrade, nor did I!

probably not enough sausage rolls to go round.

Maybe we'll get invited to the next one! Just found this in This Is London:

Acquisitive Aim-quoted exploration company Sterling Energy rose another 1p to 16 1/2p in heavy volumes on further institutional buying. Nearly 7m shares changed hands.

gav, you are hereby appointed as media guru for SEY. great spot.

Cheers Prop, like the sound of further institutional buying! Wish I'd topped up yesterday. Held back a bit, then a bit more and ended up not buying again. Will be buying some more on any dips though.

agreed, i think 15p or thereabouts is a decent level to add.

would be great to see some feedback from the investor chats to hear exactly what management thinks right now...

Quiet trading today.

I guess that punters are wating for a drop.

They will have a long wait I think! :)

Just come in off the wire.

WASHINGTON (AFX) -- Crude oil prices are likely to remain near current levels near $40 a barrel through 2005, the U.S. Energy Department said Wednesday in its monthly short-term energy outlook. Inventory levels remain low, particularly in the context of stronger demand, the Energy Information Agency said. 'The chances for even a gradual, sustained decline in crude oil prices through 2005, as previously projected in this outlook, seem to have diminished,' the agency said. 'Low world oil surplus capacity levels provide an extremely limited cushion in the event of unexpected world oil market disruptions.' For the summer, the agency is forecasting an average price of $1.89 a gallon, down 2 cents from last month's forecast.

This story was supplied by CBSMarketWatch. For further information see www.cbsmarketwatch.com.

People had better get used to it, these prices are here to stay!

Definitely agree with you there Seawallwalker! At most I think oil may drift down slightly, but the days of $20 - 25 oil are long gone. Even if it does drift down, it will come back up again and go higher. High and higher oil prices are here to stay.

Doesnt look like I'll get the chance to top up today. Will see what tomorrow brings but definitely want more of these.