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

At last, some news.

You are on the ball proprtrade.

Looks like I would be a fool to sell too early on these.

The upside potential has always been good, and this statement alone goes to show exactly that.

I do hope they manage to find a nice field half the size of Cairn Energies more recent discoveries.

If they do I can retire!

Meantime I will wait for the developements.

I also have inteterests in JKX and HNR. Both long.

both decent plays.

i am holding SEY for a while and really think this has 2+ bagger potential. management have bought well and i think their aquisition and organic growth strategy has so far worked and been well recieved by the mkt.

another successful strike and we could see a cairn like move.

outside of O&E companies i am long ESY in the UK. My other interests are Australasian with some interesting O&E companies over there...

LONDON (AFX) - Sterling Energy, the UK oil exploration and production group
is to begin a drilling programme off the West coast of Africa.

In a statement to the company AGM today, chairman Richard O'Toole said
Sterling will participate in up to 20 well drillings with the costs being
absorbed by partners due to "carried interest" arrangements.

The new exploration follows the successful 40 mln stg takeover of Fusion Oil
& Gas last year, which resulted in commercial findings in fields offshore
Mauritania.

Drilling off Mauritania is due to begin in August while the company is also
planning a exploration programme in the Gulf of Mexico.

newsdesk@afxnews.com

i have just doubled my position at 14p. i know the drill results are a while away but i think the runup and media reporting tomorrow will see these beyond 20p.

i bought 10k's worth today, i used to work for an american outfit called diamond offshore in west africa, (angola 1999) i am fortunate enough to hold cairn aswell, the news of early drilling is very very significant, the area of west africa is now well known for vast reserves of oil, i have every confidence we've backed a winner, this share will be 15p by next week once people know the work has started, i think we are going to make a lot of money with this one.

well, we have never met on the board before, but i like you already!

interesting that you have first hand experience with the region, and i hope you are right. i always have more confidence in O&E companies when they have strikes under their belts and this fits the bill of a potential multi-bagger even with a 100m mkt cap (like cairn).

keep on buying..

rgds
proptrade

i was sitting on the fence with these waiting for news, today was what i wanted to hear, the oil companies are paying them to drill, oil companies are worrying and want these wells drilled and capped as quickly as possible, hence the early the start, the early the production and while the oil price is high , the more they can sell it for. oil is king at the moment at it's the oil price is heading higher in my opinion, the middle east, russia and world instability is music to the oil corporations ears.

so true, hopefully early success will see SEY spike in the very near future.

i think the aquisition of fusion has been an absolute masterstroke, that is the key to this company, also drilling in west africa can be relatively cheap in labour costs, drilling conditions are perfect, the sea is like a mill pond, i think the company should make more updates and give themselves more exposure to the media and potential investors, that is the only slight gripe i have, but it should take no more than 16-18 weeks to drill a well in africa, they could drill 2 by the end of the year.this share could go absolutely beserk.take a look at the link it's surpising how quickly the price can change, Cairn's share price at the time makes interesting reading.

http://boards.fool.co.uk/Message.asp?mid=8222238

Well proptrade,,there are more people interested than we both thought, and for the right reasons.

Thanks ramraid for your contribution.

I learn all the time.

I fortunately doubled my holding on the recent low, so now for me it is a waiting game.

Luck to all!!

i couldn't agree more with the above. hopefully the company will commence weekly updates through the drilling program to keep investors in touch.

i have to say i am very comfortable holding this share and look foward to the drilling...

dare i say it, but will more Cairn investors reduce they're holding and come and join us ?

it would be nice if yesterdays announcement makes the financial press.

only buyers about today prop,

looks like people are starting to "wake up and smell the coffee"

well no news in the FT, anyone else seen anything?

not heard a thing, think it's the last time we see 14p or lower now...

i think so...what level were u in cairn?

i was in a little bit at 4, 5, 6, and 10 quid, i've done really well, thery're up again today, i'm really considering selling though, i,ve accumulated more and more just to keep doubling my money, i think i've had a good run and i'll buy some more Sterling, i do feel that the value is gone, i think they're going to be bought out so i'll keep some, bank some profit, have a holiday and wait for SEY to do the same.

Prop, what's yor target on SEY ??

I'm going to take some profit when they get to 30p and then just leave the rest in as a free bet. I'm going to have Gordon Brown all over me like a rash next year so i'm going to have to bed & breakfast some.

nicely done on the cairn. if i was holding i would certainly take my capital out and just run the profit (with a timely B&B at some point).

with SEY i will take my capital out when they double and run with the profits. i do feel strongly about realising gains and being an ex-proprietary trader my instinct is to always bank a profit after a decent turn.

I think near term SEY will top 20p, and once the drilling comes through could easily touch 50p.

what about yourself?

Hi you 2.

Nice dialogue.

See we are on the up again today.

Great!!