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

Morning all. I wonder why SWW likes Texas today, something to do with a Dome perhaps...

Don't know, but something rattled yesterday.

PRE has come to a shuddering halt.

This link could be it.

Still well up so I am staying in.

http://www.thisislondon.co.uk/news/business/articles/timid84574?source=

Morning everyone..just. Really can't seem to shift myself today, must be the perpetual rain blues.Lovely chicken last night definately use the brick again. Nice to see you've joined us on the other side SWW. Let me guess was it the lure of all that potential STRESS that convinced you. Good point to buy in at..let's hope that was the last good buying opportunity before the RNS.

sandrew64 Great news on the chicken.
Yes it's all a waiting game lately.
PRE spiked at 34p and dropped back, no onereally knows why it went up in the first place, although I did see some DES holders were selling up and moving over, that seemed to be the trigger.

oilbarrel.com today says.........

(Nothing we don't already know)

15.11.2004
Sterling Raises 97 Million To Further Its Mauritanian Ambitions
In the wake of its agreement two weeks ago to work in partnership with the Mauritanian government on the Chinguetti oil development, AIM-quoted Sterling Energy has raised 97 million to fund its obligations under that deal. The bulk of the funds will be used to cover a US$15.5 million signature bonus and US$130 million letter of credit to cover the Mauritanian governments 12 per cent share of the field development costs. In return, Sterling will receive an income from a sliding scale share of the fields production, which is due to get underway in 2006 at a rate of 75,000 barrels per day.

This is a very important milestone for us, said Sterlings chief executive Harry Wilson. Its our first production in West Africa and the first production in Mauritania as a country.

The investor reaction to the placing was a vote of confidence in the London-based oil junior and its African-focused portfolio of opportunities.

The support from the investors was tremendous, Wilson told oilbarrel.com. It was considerably oversubscribed and we have brought in about 15-20 new institutions as well as the continued support from our existing investors.

The one downside, said Wilson, was that the tight time-frame for the fundraising meant smaller shareholders were excluded from the opportunity.

We would have liked to give our smaller shareholders the chance to participate but because of the time constraints the Mauritanians put on us we didnt have any option but to do the deal we did.

Wilson will next week be involved in high level meetings in London between the Mauritanian oil minister and British officials. Its a very exciting time, said Wilson.

Development work is already underway on Chinguetti, operated by Australias Woodside, which has two rigs drilling continuously in Mauritanian waters on a 20-well exploration, appraisal and development drilling programme.

Sterling, of course, isnt a pure Africa exploration play. Its prospecting activities are backed by a solid production base in the US Gulf of Mexico, where the current high oil and gas price is generating healthy cash flows. Over the first six months of 2004 the company saw its turnover double to 5.3 million and its pre-tax profits surge 78 per cent to 1.98 million.

This bonanza is helping to fuel the companys search for additional exploration rights in Africa, where it picked up a raft of properties in the 40 million takeover of Fusion Oil & Gas in May 2003. As a result of that deal, Sterling is participating in about 20 wells off the coast of West Africa at virtually no cost, leaving plenty of scope to further beef up its portfolio.

Our new ventures group has been working for the last year or so looking at new exploration opportunities and weve got about two or three pretty good things in the pipeline, said Wilson. Its quite competitive out there at the moment. Wherever we go, there are other people chasing and digging for opportunities too. But weve shown we can get the deals: we managed to secure acreage in Madagascar before anyone else.

This latter deal saw the company win two large exploration licences offshore northwest Madagascar, which lies off the east coast of Africa. The Ambilobe and Ampasindava blocks cover 34,000 sq km of undrilled acreage that has been home to hydrocarbon shows while heavy oil deposits have been recorded onshore.

morning all...good weekend???????

great little booze run to calais. not cheap but a thoroughly enjoyable day out.

SEY quiet as u like....

SWW, bet u are pleased u flipped the DES!

small tick up.....is anyone there?????? is there a team SET excursion that i wasn't invited to?

Hi prop.

yes.

Concentrating on PRE and SEY now, minor punt on PET.

quiet day on the threads...

Not much in the way of news.

Oil price dropping, which is good news. Just so long as it does not go too far.

Not much else.

so true. game not over for small cap resource stocks just yet. i think a bit of consolidation never hurts and tempers down some overly euphoric stocks (DES).

looking forward to the 19th and SEY statements galore.

SWW, also i spoke to my spreadtrade guys over ESY and they are topped out on their trading limits and will only accept unwind orders. sounds pretty wird to me, have you ever heard of that...i mean all they should be doing in virtually mirroring their exposure directly in the mkt. must be a v. big player involved.....just thought i would pass that on, they are up strongly today.

Similar thing happened with PRE last week.

They have a relatively small cap.

The quick rise was followed by several tree shakes, the latest is todays.

Afternoon team sey,bit of a dull day with it,so i have been working on my next bunch of holding,hows it your end,with your holdings..

Like yours DD a bit dull. SIA down so I'm 400 light. Did you see the Spurs game what a cracker apart from the result. Too many G&T's yesterday so I'm finding it all a bit hard today.

MS

DD

Have you got a cert for me short term 3 months max?

MS

Wishful ms wishful,as to the game you where unlucky to score 4 and lose,looks like its west london bound chelski,,champs.
I am a holder of brjk,but i am going to sell up and take 6 others,i bought it for volatility,,dull as gray pants..

Wouldn't argue with chelski looking really good. Can't wait for the Highbury clash. Don't like the Director of Football situation at White Heart Lane.

Looking at PAY,DGM,NLR but no conclusions yet.

MS