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

As I said, it has been happening for some time.

Morning all,

Not the greatest start to the day. SEY mentioned in this weeks Shares mag. Dont have the mag so dont know what was said. Review I think of various oil co's.

Link to the Yahoo page:

http://uk.biz.yahoo.com/040722/237/eykdd.html

gav,

I've just checked the online version, and it's a lengthy review of all the speculative oil stocks, and may well be worth you checking out a copy in WHS.

Awaiting the post for the hard copy, which is easier to read than a PDF file!

Hopefully once people have read it, this morning's retracements way reverse!

Andy,

Cheers for that. Sounds well worth a look. Will try to get a look later today. Onwards and upwards!

on my way to WHS.

bit of a poor day all round and i can't see the mkts striving forwards until September time. hopefully the quality will still be at the top (SEY) and look forward to positive newsflow...

Old News but...........

Irish Sunday Independant 27/1/04 "
What is up at Sterling Energy? It lost 0.5p to 13.25p yesterday but again volumes were heavy and the recent moves have been upwards. The company has recently completed the acquisition of Fusion and oilbarrel.com reports the company as saying "We could not possibly say. But we do expect to be contacted by the Stock Exchange about an announcement soon." One suggestion is that it is once again taking a look at Pan Andean Resources (up another 0.5p to 16p yesterday).

DEEP POCKETS has learned that Irish oil and gas company, Sterling Energy, has made an informal merger approach to John Teeling's Pan Andean Resources. The all-paper deal is part of Sterling's Gulf of Mexico expansion plans.

Earlier this year Sterling announced the $4.2m acquisition of a 60 per cent interest in the Eugene Island 268 lease offshore Louisiana. Both Irish exploration companies currently own royalty interests in the exciting High Island 52 block in the Gulf of Mexico.

Such a deal would boost the liquidity of Sterling's shares as Pan Andean is probably the most widely followed Teeling company. It is also profitable and currently generates cash, which few of his other publicly-traded companies do.

Synergies could certainly be generated from combining Sterling's proven management team, led by CEO Harry Wilson, with Teeling's proven promotional skills.

David Horgan, Teeling's Pan Andean MD, may be known to readers from his appearances on Questions and Answers and the Vincent Browne Show during the Iraq War.

During 2002, Wilson succeeded in raising stg6.6m for Sterling through the placing of new shares which - in a period of international financial turmoil - demonstrates how well respected he is within the global oil and gas industry.
Charts

Morning all,

Thanks for that post Seawallwalker, interesting stuff. Here's to a good end to the week.

could be a formidable partnership...

Needs some good news again as interest has dropped.

Drilling programmes will be providing newsflow in the coming months - good newsflow I hope.

we all do. i think interest will grow in SEY over the rest of the summer.

There is little doubt that at the moment, any good news would send this price up to unseen levels imho.

Everybody; concentrate!!!!

any time over the next couple of weeks

Can't understand people selling these at these prices and the oil price is hitting new highs. As soon as news is released, they will be buying back at a higher price imo.

SW, i'm concentrating hard!!

Interesting article, slight;y bullish on most UK oil quoted astocks, but maybe worth a read IMHO.


http://www.angelfire.com/hi5/howdy777/OILEXCO/CC_Report.pdf

Andy

Unable to open or save it as it is written.

Increased my stake today as the price has dropped below 15.5

Andy,

Saw it last night via link on TMF. Not read it yet, will do so over the weekend. Covers quite a few company's.

SWW / gavdfc,

It's a good read, BUT, they are using a fairly low average oil price for this year and next, and given the current price, it makes the article's recommendations somewhat obsolete, IMHO.

They are recommending holds and sells on various oil stocks, although they don't mention Sterling.

In view of the prevailing higher oil price, I think it's already dated.