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

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.

thats what i mean. any discovery would be simultaneously released by both companies. maybe just a clitch somewhere?

Fair Doos to that.

Some tasty tradesgone through the market this afternoon, not sure what to make of them personally.

On the face of it, there is a very large sell rollover, but who knows?

A 1m T trade through at the end of the day. Hopefully a good start to the day tomorrow. Some good large buys through today.

Anyone have any thoughts about these trades at the end of trading?

20/07/04 17:25 16.5 3,750,000 O 16.25 16.75 ? 6,755,457 381,078
20/07/04 17:25 16.57 3,750,000 O 16.25 16.75 Buy 6,755,457 381,078

All where not stated likely to be buys.

6m buys, a few thousand sells and 4m unknown, perhaps buys, looks ominous.

Outside of normal market time and ordinary trades.

Odd!

We have all seen big buys before at the tail end of trading, that is how this thread started!

I would always suspect Institutional Buys for such amounts, however SEY were not the only Company interested in Fusion Oil & Gas. The other parties were rumoured to be South American, (Mexico ?), who liked the portfolio that FOG possessed.

Easy to speculate, the price now is not really that far different from the 10.5p * 3.5 that Sterling paid, and in my opinion still under by a long way what it should be.

Investec bought millions of shares in similar amounts as above on the way to the merger, all of which they made available to Sterling. I tracked them at the time under Rule 2.10

I should say that a friend who knows, priced up the combined assets just after merger and gave me a price of 35 to 38 pence per share as they stood then. Whether he be right or wrong I would not know. That was why I held with confidence right up to now!

I would always think that there is a chance that the Mauritanian block could be bought up.

The Contenders being, Woodside, or Hardman, or British Gas, (recent buy-in), Premier Oil. I have dismissed ROC Oil as a small fry but you may know different. Any one or more could find themselves a target to be swallowed by the others.

If that happened, I think I would be sorry, but at the moment SEY is a Sterling Strong Buy IMHO.

You either like what I say or hate it, but this is how I feel, there is mega money to be made long term if SEY remain SEY.

Enjoy the ride!

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