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

i think we are due news early august...will check.

seawallwalker,

good morning, not due any news this week i'm afraid, at least according to the RNS which I have pasted below, around the 23rd looks to be the schedule.

-----------------------------


July 2, 2004: Sterling Energy plc has commenced drilling the A5 ST (Sidetrack) well on its High Island A-68 lease in the Gulf of Mexico offshore Texas. The well is the first in a drilling programme planned to more than double production over the next 12 months from recent levels of around 11 million cubic feet of gas equivalent per day. It is targeting attic gas reserves up dip from existing productive wells.

Sterling Operations and Technical Director Nigel Quinton said: This well marks the start of an extensive drilling campaign in the Gulf of Mexico in which we expect to drill at least 6 new wells and undertake the work-over of a number of existing wells. The A5 ST well is located in shallow waters (less than 100 ft) approximately 75 miles south east of Houston, Texas. It is immediately north of Sterlings High Island A-94 lease acquired in August 2003.

Drilling is expected to take up to 3 weeks

That was the peice.

Thanks Andy.

proptrade,

there is an interesting article on ITM Power (ITM) in this week's Share magazine, concerning cheap fuel cells and running them in reverse. Check it out.

will do. the public fuel cell companies fell victim to a massive bubble just after the internet boom and is still wallowing at low levels. what is facinating is if these elevated oil levels make the research into these other energy sources viable.

cheers for the heads-up.

Looks like a sellers day today.

Of course if the price drifts down much further, it will become a strong buyers day.

exactly, never expect to go up in a straight line but i would just look to buy on dips. more news is round the corner....

time to slowly add....

proptrade,

Agreed.

large what looks to be a 1,000,000 sell gone through this morning!

The price is only slightly down, so seems to have been absorbed if it was a sell.

Been away for a few days, come back and the price has drifted slighly. Profit taking by some. Not interested in selling at this price at all!

It will go back up again.

Just to recap, Evolution Beeson have a price target of 20p.

Drilling commences in Gulf of Mexico to rekease known gas assets not yet in the share price.

They are set to double gas production in the Gulf currently wearning 1$M per month profit.

They have a free carry in Mauritania 20 wells.

Thye have a holding in wells where Oil has been found in commercial quantities in that area.

They have a larger stake in exploration in Gabon.

They are looking to release starnded reserve in the Pacific, (I would say Philippines but can't be sure I could spell it).

I am sure there is more but that is enough to keep me interested.

Exactly Seawallwalker, great post. Enough in it to keep everyone interested! Can't see the logic behind selling at these prices. All they're getting is a quick profit, then selling into a lesser price. When the price goes up they'll be back and pay more for the shares.

so true, thx for the summary seawallwalker.

by the way its spelt Philippines...i should know i worked out there for a while!

rgds
proptrade

It's showing up here at 15.62p, so it looks as if it was a buy. Nice buy if it was! Wish I could top up with 1m myself!

same here...

Another 1m T trade through at 15.62p at 16.32 and a 250k T at 15.5p.

recovering nicely to end the week....

Decent end to the week after the earlier falls this week. Roll on Monday! Have a good weekend!

here's the lates chart;

Andy

Many thanks.

It helps to have a new one every now and then.