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

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.

Morning all,

Thanks for the charts Andy. Always a pleasure to look at it!

Comment :- Sterling hold the remainder of this.

Production boost for Pan Andean
AFX
Successful workover on High Island 52 means it will soon come into production

Pan Andean Resources PLC said a workover on block High Island 52, in the Gulf of Mexico, has been successful and that the well will shortly come into production and is expected to produce at 1 mln cubic feet of gas a day.

Pan Andean holds a 50 pct interest.

On July 8, the company said it plugged and abandoned the High Island A-68 well, also in the Gulf of Mexico, after gas shows were considered insufficient for commercial production.

RNS Number:6275A
Pan Andean Resources PLC 08 July 2004
"The rig is being moved to block High Island 52, where Pan Andean holds a 45% interest. Operations on this block will commence early next week."
............
13 July 2004
Pan Andean:
Rig Name: PD 11-J
Previous Names: HERCULES 11, CLIFFS 11, MARINE 11
Rig Owner: PARKER DRILLING
Previous Owners: CLIFFS DRILLING, MARAD, MARINE HOLDING
Rig Manager: PARKER DRILLING
Operating Status: DRILLING
Operator: STERLING
Date Available: NOT KNOWN
Country: UNITED STATES
Area: GULF OF MEXICO
Block/Well: High Island 52
Water Depth: 42
Only 42 meters water depth, and status = Drilling !!

seawallalker,

morning, good spot!

Out of interest, where did you pick up that rig information from?

From the PRE thread.

It is good stuff so I will ask for the link.

cheers!

seems like really great news, thx for the info

Shame SEY have not repeated it as PRE have gone up 1p on the news.

agreed, that is why i am a little sceptical

all,

but PRE's market cap is much smaller than SEY, hence more value to them (IMHO)

Some fairly decent size trades today on SEY!

proptrade, sceptical about what?

Half ownership?

Not too sure, my research only mentioned Sterling in the PRE result in respect of the rig.

I have ahd a look at the High Island site, but coukld not find enough detail to say who is working which bit, so unless Sterling say it is theirs, then I suppose we should assume that is not.