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

Read it, it's worth it and relevant.

Hotcopper:- from the AGM today of Hardman Resources: some or most of this has relevance to SEY:
Speaking to a packed meeting of shareholders yesterday, acting chief executive Scott Spencer said a decision to develop the big Tiof oilfield off West Africa depended on a huge drilling campaign now under way.

"If the exploration program justifies early production, that is already being considered," he said. "There's no obligation but that's what we [believe], based on the discussions that have taken place so far and given that we've got an appraisal program under way."

Excellent results from the Tiof wells drilled so far have indicated a probable reserve of between 300 million and 350 million barrels of oil, making it roughly double the size of the nearby Chinguetti field. A $US600 million ($760 million) project at Chinguetti, producing 75,000 barrels a day, is due to come on stream next year.

Spencer said if the appraisal program stacked up, the partners would probably favour a phased development starting at about 50,000 barrels a day in 2007, to generate early cash flow and make the most of booming oil prices.

http://www.smh.com.au/news/Business/Hardman-could-go-another-development/2004/11/25/1101219681047.html?oneclick=true

Longer term, analysts believe the field could ultimately produce up to 130,000 barrels a day for a total development cost of about $1 billion.

At the same time, Mr Spencer said Hardman was encouraged by results from the Tevet field, just 10km from Chinguetti, which was shaping as a 50 million to 100 million barrel field. Given its proximity to Chinguetti, Tevet was probably tied back to the main field.

Crucially, Mr Spencer said Hardman expected to secure funding for its share of the Chinguetti development within days. Final documentation was now being signed with the ANZ Bank for a facility worth up to $US100 million, he said.

Hardman owns 19 per cent of Chinguetti and 21.6 per cent of Tiof, while Woodside holds 47.4 and 53.8 per cent respectively. Australia's Roc Oil also holds respective interests of 3.25 per cent and 3.7 per cent.

Mr Spencer said the company was also excited about deep-water leases off the coast of French Guiana. Hardman holds a 97.5 per cent interest in more than 65,000 square kilometres.

I have stolen this lock stock and barrel from ADVFN

Hectorp is the poster, thanks Hectorp.

Note that very interesting point for SEY:

'Mr Spencer said Hardman was encouraged by results from the Tevet field, just 10km from Chinguetti, which was shaping as a 50 million to 100 million barrel field. Given its proximity to Chinguetti, Tevet was probably tied back to the main field.

Crucially, Mr Spencer said Hardman expected to secure funding for its share of the Chinguetti development within days. Final documentation was now being signed with the ANZ Bank for a facility worth up to $US100 million, he said.' end of quote

- If as seems likely Chinguetti is tied back to Tevet ot could increase our (SEY shareholders) Chinguetti resource to around 200M Barrels or more (130m).
________________________________________________________________________________

Now everybody can go back to sleep and have happy dreams.

hold on, just to clarify, this is better than expectations...right???

buy the way check out ESY the last few days....

prop, very right!

Very big!

As I dared to suggest bigger than Lake Superior but not so deep. That will need proving up of course, but for them to say what they have must mean they believe what they are saying.

Going on, if there is a tie back then the Mauritannian Governments 12% is doubled by todays estimates for Chinguetti, should it prove to e the same field.

It follows that Sterlings cut for the deal already bought will double at least.

Anyone who doubts can keep their doubts, says this Bull, I am in long for the ride, and with all OIl & Gas Exploration Stocks it will be turbulant, but we already knew that!

good, i thought i was missing something. now where is my ladder so i can shout it off the rooftop.....

75% of mine were red today. Oh well G&T time. Fish pie tonight made by my own sweet hand. Jamie eat your heart out. All invited. Just a thought, when SEY becomes a 5 bagger shall we organise a piss up?

MS

Funny times....SEY and YOO were flying they both enter into significant deals which should have sent them flying and there price goes into stall? Letas hope they recover the glitz they had previously. Even ASC and SPS have had a quiet period.Perhaps tomorrow will be the day!

I think that is a great idea.

What is a 5 bagger?

Times 5 buy in price?

it sure is - now debagging, that's a different story all together

Lol prefer the bagger 5 times would be very welcomed indeed...

1 million buy, delayed by one hour coming up on leg at just before close, so says a "Mate" on ADVFN.

My "Mate" on hotcopper says buy HNR.

As HNR has risen from it's latest low, the advice may be a little late.

a 20 bagger and nothing less will be accepted!

I hold SEY and WTE and was thinging it would have been better if i had put all the money into WTE who hold shares in SEY 70% as well as DNX and DES etc:

aldwickk - sounds like a good plan. If WTE have 70% of SEY, do they not own it now?

i am confused...has anyone got any details about a WTE stake??? i can only see that they sold their fusion stock.

The Group presently owns interests in the issued share capitals of AIM
quoted Fusion Oil & Gas plc of 20.36%, Desire Petroleum plc of 5.12% and
Sterling Energy plc of 1.55% as well as 14.82% of the issued share capital
of unquoted Eclipse Energy Company Limited.

cheers, but obviously it had cashed out the fusion after the takeover....