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

Taken from TMF - Killik & Co.

Pertains to Hardman,but relevant to PSC Members

HARDMAN RESOURCES Share fall


The share price of Hardman Resources, a major partner in the Mauritanian discovery has seen a sharp share price fall in recent trading sessions from 90p to around 68p. Trying to judge the bottom of the price fall is a difficult business but a bounce back looks more than a fair chance from these levels.

Hardmans primary asset is the 19% stake in Chinguetti and 21.6% of the other exploration areas in Mauritania known as PSC B. Readers will recall that these stakes came after a place down of its share to BG Group earlier in the year.

The share price fall follows three separate pieces of poor news which has impacted sentiment. Given that the price has traded at a premium to estimated net asset value, bad news creates opportunities for the premium to reduce. We think the stock is now trading at a discount to core value.

Having spoken to the participants in the project, we understand the news earlier in the week that the Merou well had delivered sub commercial quantities of hydrocarbons really defines the boundary of the massive Tiof field (i.e. it does not extend as far to the west). Further drilling will now take place to the East.

The mechanical issues at Tiof which resulted in the suspension of drilling of the third appraisal well have been played down as insignificant although clearly this may have some impact of the cost program.

It is clear the partners need some good news but we have felt that some of these early targets are by their very nature are high risk and help to define the structures. As a result, the sentiment has moved too negative on the project. Indeed, we suspect that the next results we will hear from the partners will be more about development of existing projects which should be safer hunting ground (cash flow rather than exploration).


The stock price at 66p is below the perceived 73p core as estimated by Citigroup Smith Barney. Upside potential therefore exists. The added attraction of bid speculation at the lead operator Woodside Petroleum in recent sessions and thoughts that Hardman will probably be bought in 2005 suggest recent weakness represents a buying opportunity.

The trade what went through at 13.03pm for 90,090 shares is not a sell as shown on this website but a buy at 14.94p. I should know I bought them and intend to keep them for sometime.

I've been trading this share for the last year and am happy to get back in at this level after thinking I had missed my chance a few weeks ago when the price was heading continously upwards.

The January Sales have come early for me and I know a bargain when I see one.

I like your name 1704!

Do you like cows?

Fresians, limosines, cherolais, I particularly like aberdeen angus.

They have real character!

I quite like rabbits too............

I'm forever chasing mine around trying to stay lucky!

Ah well!

Excellent price by the way, well done.

Agreed 1704. The trades noted as sells if at bid are sells, many if not all of the others today are BUYS. This has been the pattern over the last few weeks - remember the listing of buys/sells is not definitive. Make up your own mind given the history and prospects of the co./sector and the SP.
Happy hunting
Nam

Does it not make you wonder how they're in a position to let you have them so far under mid?

:o)

What?

Cows?

Thats the udder, they always like to let you have whats under their mid!

I think at this point I will get on with my tasks for the day.

Thanks to all, for helping to pass a few very intersting hours.

Hilary, is that your nose or mouth?

I like your forex bb, very intersting. I may visit one day!

See you all tomorrow!

Hils

I see you are here again on a down day but have been absent since the last one. I asked you a few questions re your position a while back in the tea rooms yet didnt receive an answer - happy to ramp/deramp but not discuss???

If you are in for any length of time (not day trading etc), i.e. believe in the future success of a company, short term share price falls present excellent buying opportunities for those who have vision and patience. If you put all your eggs into one basket then you should be depositing your cash in a bank. SP falls represent chances for unfortunates to average down and for those who missed out to enjoy the ride at more considered levels given that the speculating froth makers have all bugged out.
Happy hunting
Nam

well said last two posts!

Thanks SWW and Namreh for your replies to my earlier post.

I must say that I have been following the messages on this bulletin board for several months and love the sense of humour of the users.

As for whether or not I'm into cows I couldn't possibly comment.

All the best!

I lied!

I was hiding behind the door watching you lot post!

1704, you are very welcome.

Bit of a sussy reply about cows though!

I have spread sideways into HNR again, 62p.

I am hoping for a quick rise to 70p, but if it reverses, I will do what others are doing and hold tight.

I will stay longer, especially as there is a whisper or two of a takeover in 2005!

All about Wooside Petroleum if you don't know. A Chinese Oil Major are upping their stake in WPL.

WPL have a 10% stake in HNR, etc.

WPL share price is the one out of the PSC parners that has gone the other way to the rest of late, on the back of that rumour.

WPL only trades on the ASX.

Just noticed the chart is copyright so cancelled it.

See Harry's joined Soto. Has Jim joined as well?

MS

Yes Mickey.

New Southampton manager Harry Redknapp has confirmed that Jim Smith is set to join him at St Mary's.

The ex-Portsmouth boss also revealed that he had given his former employers a parting gift and he is upset at some of the comments that have followed his move across the South Coast.

He insisted he is on a smaller contract with struggling Saints but is clearly relishing the challenge.

"Kevin [Bond] is joining me today," he told Sky Sports News. "Jim [Smith] has gone away on holiday, the one we paid for on Monday morning.

"I've lost my money but Jim's gone and used the holiday. He's off in Dubai and, when he comes back, I'll sit down and talk to him.

You talk in riddles ms.

Please excuse my ignorance, what's soto?

Southampton SWW

Departure point of the Titanic!

(apologies for stealing your thunder MS)

I suppose that's it for cows then?

Back to football. (sigh!)