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

Drilling report, lacks lustre.

http://moneyam.uk-wire.com/cgi-bin/articles/200412070700400917G.html

As the rigs gear into production mode, the weekly updates will cease.

Tiof 3- Progress and Current Status:
Since the last report (30 November 2004) the well was suspended as a potential
future development well and the West Navigator drill ship then moved to the
Chinguetti Field.

So it is not a potential future production well. Why would they lie? Did they lie? Conspiracy Theory? No!

It will be interesting to see what happens to the price of PSC Partners with no updates after Tiof 5, for a while.

maybe the conspiracists will be out again now that the weekly reports have stopped....why? tiof 3 huge strike but keeping quiet...who knows.

proptrade - my reading of today's report is that the weekly reports for the Chinguetti Development Drilling programme would stop, not the general weekly update on the other exploration wells. Makes sense. There wouldn't be a lot to report on a week by week basis for the devlopment programme.

StarFrog, you are 100% right. i think i am just in conspiracy mode (thx SWW!) and am trying to excite myself on what is already a deathly dull day.

kind rgds
prop

prop, now I have re rad the report I am convinced of its' ambiguity in respect of Tiof 3.

The wording is such that they have not abandoned tyhe well, which is the ususal wording for a duffer, but suspended it, and will return.

Theey are also from waht I read, gearing up Tiof for production alongside Chinguetti.

Or; am I reading too much into it?

Decided to reproduce it after all

Hardman Resources Limited
07 December 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 7 December 2004

CONTACT: Scott Spencer

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT


Hardman Resources Ltd ('Hardman') provides the following weekly progress report
on the Mauritania offshore drilling programme:

Merou-1 Exploration Well - PSC B

Progress and Current Status:
Since the last report (30 November 2004) the well was plugged and abandoned on
1 December and the Stena Tay drill rig then moved to the Tiof-5 location. The
well results were reported previously.


Tiof-5 Appraisal Well - PSC B

Progress and Current Status:
The Tiof-5 appraisal well was spudded on 3 December by the Stena Tay drilling
rig. The well has been drilled to a depth of 2,159 metres and the 13 5/8 inch
casing set. At midnight GMT on 6 December the riser and BOP's were being run
prior to drilling ahead.

Well Location:
The Tiof-5 well is located approximately 2.7 kilometres east of the Tiof-1
discovery well. Water depth is 993 metres and the planned total depth of the
well is approximately 2,975 meters.

Well Details:
The Tiof-5 well is intended to further appraise the Tiof oil discovery and will
evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic.

Tiof-3 Appraisal Well - PSC B

Progress and Current Status:
Since the last report (30 November 2004) the well was suspended as a potential
future development well and the West Navigator drill ship then moved to the
Chinguetti Field.


Chinguetti Development Drilling

The West Navigator drill ship resumed operations on the Chinguetti development
wells on 3 December 2004.

The Chinguetti development drilling programme will now commence, as scheduled,
to ensure adequate time to drill, complete and prepare the wells for connection
to the floating, production, storage and offtake (FPSO) vessel when it arrives.
The West Navigator will commence operations and subsequently be joined by the
Stena Tay. The Chinguetti development well surface locations are clustered at
three separate 'drilling centres' allowing both rigs to work in the field at the
same time. The rigs will work in tandem on the drilling centres with the
West Navigator drilling and casing the top holes, followed by the Stena Tay
drilling and casing the bottom holes through the reservoir interval. The West
Navigator will then return to conduct the completion operations of these
Chinguetti development wells after carrying out other appraisal and/or
exploration activities for the joint venture.

Hardman Resources does not intend to provide detailed weekly reports during the
course of the development well drilling programme but will report significant
matters as appropriate.

Other information:

All reported depths are referenced to the rig rotary table (except water depth).

Hydrocarbon shows will only be reported after all required logs have been run
and evaluated for each well.

Times and dates refer to Mauritania time (GMT), 8 hours behind Western Standard
Time, Perth.

A map showing the location of the wells will be available on the Hardman website
(
www.hdr.com.au
) and will be updated during the course of the 2004/2005 drilling
programme.

The remaining 2004/05 drilling programme will include wells in two production
sharing contract areas (PSC's). The government has exercised its right to
participate in the Chinguetti development. Joint venture interests in those
areas are:

Company PSC B Chinguetti Exploitation Perimeter PSC A
(Remainder)
Woodside group
companies 53.846% 47.384% 53.846%
(operator)
Hardman group 21.6% 19.008% 24.3%
companies
BG group companies 11.63% 10.234% 13.084%
Premier group 9.231% 8.123% -
companies
Fusion Mauritania A - - 4.615%
Ltd
ROC Oil group 3.693% 3.250% 4.155%
companies
Groupe Projet - 12.000%
Chinguetti


SCOTT SPENCER
DIRECTOR

Note: In accordance with Australian Stock Exchange Limited listing requirements,
the geological information supplied in this report has been based on information
provided by geologists who have had in excess of five years experience in their
field of activity.

By the way, I do not necessaily agree that there is a conspiacy either.

I just thought I should produce anything pertaining to our investment.

There were some relevant items in that report.

no, that was my point above in post 2424..."tiof 3 huge strike but keeping quiet..."

i know we can conspire all day but after your post yesterday you have my head in a spin...i feel like writing to whoever produced that series of conspiracy programs on SKY about 9/11, Titanic, JFK, if you really do live by the sea...., and ask them to write about the TIOF (There Is Oil Flowing) conspiracy!

tell me your thoughts....!

prop, I did not produce that item because of the conspiracy theory more over for the detail which described the operations in Mauritannia.

Nothing more to say on that.

Lets get back to watching the s/p.

All a bit quiet for me today. Think I'll go and wash the car. I bet you are all really interested. 1 by xmas.

Dear Santa
Please can I have a Swedish au pair for christmas. One with a big chest.

A bored MS

ok sir! to be honest i am really kidding about the the article you posted, it was just an amusing diversion on a quiet day.

i do agree with you about Mauritannia, i now know 500 things more than i did about the country than yesterday!

I have another item.

Its in the last line.

web adress follows.

In the UK today, mining stocks suffered again, depressed by negative comments from Merrill Lynch (NYSE: MER - news) which cut its stance on the sector to 'neutral' from 'buy', highlighting the negative impact of US dollar weakness and rapidly rising input costs.
Anglo American (LSE: AAL.L - news - msgs) shares were down 26 pence at 1168 in early deals, while Rio Tinto (LSE: RIO.L - news - msgs) fell 22 pence to 1465 and BHP Billiton (LSE: BLT.L - news - msgs) eased 10-1/2 pence to 580 after the three were downgraded to 'neutral' from 'buy' by the US broker.
On the second line, Lonmin (LSE: LMI.L - news) dropped 16 pence to 885 after Merrill cut its rating to 'sell'.
Centrica (LSE: CNA.L - news - msgs) was another loser, off 2-1/4 pence at 253-3/4, after the same broker cut its recommendation to 'neutral' from 'buy.
'Centrica may be the most positively geared European utility to falling oil
prices. However, we think the recent fall in Sterling energy (LSE: SEY.L - news) prices may
underpin current expectations rather than provide a windfall.' the US broker noted.

http://uk.biz.yahoo.com/041207/323/f81s4.html

If you want to know about Mauritania go to the CIA yes the CIA web site. It's all there.

MS

There you are, warts an' all!

SWW, i don't understand what ML is saying...is that badly worded or am i being thick?

My interpretation is that the price is about right at the moment, and they do not expect a rise, (hence the comment about providing a windfall aimed no doubt at recent buyers). What they do not consider is the fall in oil price which has affected all oil companies.

ML often come out with this sort of thing and the market goes the other way to whaty I have expected from their comments.

They must be wrong as the price is strengthening.


Aside, are you okay?

not bad, just trying to make head and tail of the market right now....will send you an emal.

rgds
prop

wow, first time SEY BB has been off the front page for a while. wuiet as a mouse out there....

There's not much action on the trades so far, proptrade. So I guess that we have nothing to speculate on. I see HNR taking a bit of a hit again this morning. Spill over from yesterday and continuing oil price drop, no doubt.

Still, at least a good result for the Arsenal. Top of the group - I hadn't even considered that permutation. :>)