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

Those last two trades are not very far into the bid. Funny that.

Big up for liverpool,afternoon boys.

SG's goal was a real cracker. Goal of the month me thinks but will he stay?

MS

Ms,just had time to watch the match late today,,,result .. Flo,is top draw,mellor old school centre forward,steven,,,,,,is just steven , quality.

aldwickk hello, can't view your last item!

Any chance of having a go at reposting please?

Morning all, HNR looks fun today!

mooorrrrrning all. and what a beautiful day!

Oil heads higher as Saudi Arabia suggests measures to stop price slide
AFX


Thats the latest headline, the body message is the usual thing.

i know, was watcing the story break on bberg this morning. loas of tosh i think. i know it is not a pospular view but i think we will see oil trade between 32 and 38 most of 2005.

It may not be popular but it is a reasonable view.

I think there will be a similar rise as this year late summer autumn, as panic to secure sufficiant oil starts again before winter, the variables being political tensions in producing areas, and outright terrorism aimed at facilities.

Take those out and tops of $38 seems about right.

Other than that everything looks rosy!

i know. i actually think that a "reasonable" high range in the 30's will be good all round. broader mkt will find in palatable and exploration and production will still have a tasty premium over the normal range.
i think either a war or terrorism will be the only factor that will make us see 50 again...the supply/demand issues that were headlined everywhere is now clearly NOT a factor.
hand on heart i think reduced volatily in oil prices will be the best for the sector investors. when we are involved in stocks that engage in wildcat drills who cares what the price of oil is trading at as long as it is economical to drill and extract - 35 or 50 bucks will still see a successful drill program produce great returns.
sorry for the spiel but i hope you get the jist of what i am trying to say!

I do.

Now, what about cows?

I think they should not be out in this weather, even if it is mild!

I know grass is still growing, but it is by no means as as good as spring grass.

Here in the south east, we are particularly worried about the lack of rainfall, and the knock on implications to next years hay crop.

If the trend of mild dry weather continues, then Northern Farmers may be in for a windfall next summer, as Southern Farmers try to buy their surplus hay crop.

My tip is, buy a bale of hay while it's cheap!

and so the thread moves onto a soft commodity discussion. the subjects are seemingly endless.

I've already put my mother in law in the shed with loads of hay.

MS

hibernating?

Hope so. Will bring her out when the weather gets warmer.

MS

LOL

LOL

LOL

MS dunno how you do it!

and if the weather stays bleak?

With any luck it will and she stays in.

MS

From a poster on ADVFN who avidly dislikes bovines and likes to make their lives unpleasant.

insectivore - 10 Dec'04 - 13:05 - 3110 of 3110


Not been here for a while, but reading through the last week's posts there has been some unpleasant rubbishing of SEY. Some of the negative commentary relates to the market cap and the justification for such a high value when last year's profits and revenues were rather thin.

So it is probably worth reminding folks that SEY is a completely different company from the one that reported those results. Since the last year end, the company has paid 40M for an African exploration portfolio that will only start delivering revenues in 2006 (from Chinguetti) but which includes major long term growth potential through exploration success; it has acquired $40M of gas production and development potential in the Gulf of Mexico, some of which one might expect to be reflected in this year's results, but my guess is not all of it; and it is now sitting on 100M or so of cash, some of which is earmarked for Chinguetti, but not all.

On a rough valuation based on the interims and various bits of analysts research I have seen, it would seem that a value of 250M is easily justified as follows:

Cash 100M
GOM 80M - based on 2P reserves of 60 bcfe @ $2.35 /mcfe
Fusion 50M - based on it having appreciated by, say, 25% since acquisition, given the success of Tiof and Tevet and the upswing in oil prices.
GPC deal 15M - arbitrary estimate based on 20% ROR on $130M

From this one would have to deduct US debt which is around 15M according to the interims. But one could also add the value of the Madagascar deal, the Philippine acreage and the value of the strategic partnership with the government of Mauritania, all of which are difficult to put a number on.

SEY seems to have a rather unusual profile for a company its size. It is not an out and out exploration play (thank goodness) but neither is it any longer a production company that can be valued on an earnings basis. And it has grown remarkably quickly which makes it even more difficult to assess. I have been in for a while, and have been pleasantly surprised by what it has achieved. I am probably in the Andy Reilly camp - expecting continued growth to be provided by re-continued success in Mauritania, drilling in Gabon next year, and other exploration actrivity, plus incremental increases in the US reserves. I also expect the management to continue to deliver creative value additions as they seem pretty good at this. But I do not expect the shares to double overnight.

From all of the above, you will gather that I am as confused as everyone else as to why the shares have been so weak in recent days. Seems an over-reaction to a couple of dry exploration wells in Mauritania.

DYOR!