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

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.

Last trade of the day 1m at 16.38.

Probably not going down for a while, if at all.

How To Play The Oil Game
By UK-Analyst.com

Back in May the bears favourite argument was that spiralling oil prices would cripple the economy. The headlines talked of $60 crude. And then the threat seemed to disappear as OPEC promised to increase production and Tony Blair brought peace in our time to Iraq. Brent crude "collapsed" to just $33 in the space of a few weeks.

We say collapsed because that is how the newspapers report it. But you may remember that BP has admitted that at anything over $20 Brent it is making such huge windfall profits that it will have to hand billions of pounds of spare capital back to its shareholders. The reality is that $33 oil is very good news for the oil producers.

But crude won't stay in the mid thirties for long. It is slowly dawning on investors that OPEC has always cheated on its quotas so increasing production quotas does not necessarily equate to higher output. Moreover even if many OPEC producers wished to produce at full tilt it is very doubtful whether the infrastructure of, say, Iran could manage to run at full capacity for more than a few weeks. And of course Iraq is still not quite East Surrey - the export pipelines are blown up on a weekly basis. As an added bonus for oil bulls the Russian oil giant Yukos seems to be on the verge of going bust which is unlikely to add to exports from the FSU. With no sign of any slippage in demand you would be crackers not to have oil exposure in your portfolio.

Our view is that the way to play the oil game is via the second line explorer/producers. Unlike the majors these are pure oil plays with no exposure to refining or chemicals. As producers they benefit from higher short-term crude prices. But there is an added attraction. Companies such as BP and Shell now find themselves with an embarrassment of cash. However both have "mixed" exploration records of late. As such "drilling in the City" may well be viewed as a more attractive option than exploration in the field. Historically the oil cycle has worked this way. It is inconceivable that - at some stage over the next year - one of the majors won't have a pop at one of Tullow, Burren, Cairn or Dana. And when one receives a bid all will be re-rated. So we'd be looking to play the oil game with some exposure to the UK second liners.

UK-Analyst.com is a free website which sends out the UK's top stockmarket report plus a free share tip written by a panel of 25 top tipsters each working day. For more details of this free service click here

Great story xmortal.

Thank for writing it.

Morning all,

This just released:

Sterling Energy PLC
08 July 2004



Sterling exercises option on West African offshore oil find

Sterling Energy plc ('the Company') has exercised an option to take a 5% working
interest in a block containing the unappraised Sinapa oil discovery, offshore
Guinea Bissau in West Africa.

It follows the completion last April by Premier Oil as Operator of the Sinapa 2
well on Offshore Block 2. Sinapa 2 found oil in reservoir sands but, due to the
design of the well, flow rates were not tested.

The option over the Sinapa permit is one of two held by Sterling offshore Guinea
Bissau as a result of an agreement in May 2003 that Premier Oil reached with
Fusion Oil & Gas. Fusion was subsequently acquired by Sterling late last year.
The other option covers the undrilled Esperanca permit nearby. In each case,
Sterling's option to participate follows completion of the first well at
Premier's expense.

Sterling Chief Executive, Harry Wilson, said: 'Although Premier announced that
reservoir quality was only moderate, we believe the Sinapa 2 well was highly
significant in proving the presence of a light oil petroleum system with very
positive implications. The well also proved the presence of good quality
reservoir sands, although in this instance they were not oil bearing. There are
a number of similar features to be tested, and we also believe the same promise
extends beyond Sinapa and Esperanca into our Dome Flore permit in the AGC Zone
between Guinea Bissau and Senegal.'

Along with Premier Oil (55%), Occidental Petroleum also holds an interest in the
Sinapa permit (40%). The state company of Guinea Bissau, Petroguin has a back-in
right for 30% of any development, which would reduce Sterling's interest to
3.5%.

Sterling looks forward to the Operator's forward work programme on Sinapa and
Esperanca once the evaluation of Sinapa 2 is completed.

.




For further information contact:


Harry Wilson, Chief Executive, Sterling Energy plc: 01582 462 121

Nigel Quinton, Operations and Technical Director,
Sterling Energy plc: 01582 462 121

Allan Piper, First City Financial Public Relations: 020 7436 7486
07736 064 982

Rob Collins, Evolution Beeson Gregory: 020 7071 4311




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

Good post Xmortal.

I think this is a precis of the last post

Sterling Energy takes 5 pct stake in West Africa offshore oil find
AFX


LONDON (AFX) - Oil exploration and production group Sterling Energy PLC said it has exercised an option to take a 5 pct stake in the as yet unappraised Sinapa oil discovery, offshore Guinea Bissau in West Africa.

Sterling said the move follows the discovery oil by Premier Oil PLC - the operator of one of the wells in the area.

Sterling said its option is one of two it holds from an agreement in May 2003 that Premier Oil reached with Fusion Oil & Gas.

Fusion was acquired by Sterling late last year.

Sterling said the terms of the options include completion of the first well at Premier's expense.

newsdesk@afxnews.com

cw

it reads so damn well. xmortal i would also like to thank you for your inciteful post.

i still maintain that this firm is doing all the right things to be a target themselves.

Nice load of buys this afternoon including another 1m lump. Institutioin again I should not wonder, but it may provoke a rise to the next level.

here's hoping. i think the management rounds are being well recieved and could add that push to 20p combined with the drill program commencing next month

Hopefully we will hear soon how the management presentations went this week. Some more buys like that 1m near the close today would suggest they went well.

exactly. i even have a feeling that there are a few fund manager PA buys as well.

Glad I got some more yesterday! Thought I'd wait for a bit of a pull back, but didn't happen. Still, happy to add to my holding at that price. If any more news released re fund buying of any sort then think sp will move up sharply. Wanted to get in again before that happened.

agreed, i am thinking od adding as well....

Good move Prop. Some nice buys going through right now.

3 million buys before lunch time but no price increase.

An obvious bargain of the day!

I wondered how long it would be before these ticked up.

some solid buying going on recently.


capa