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

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.

STERLING ENERGY big buyers about... (SEY)

Not today there weren't

cheers SWW! slightly out of context me thinks today!

proptrade,

yes and a nice little tick up after a few days drifting in the doldrums!

I guess they may have been filling a large order!

i think so....

i think this stoock is showing some seriously good price action right now. great rise, some consolidation but still trending higher.

What do you guys value this share at.

grandadg90,

to be honest, I don't think anyone can answer that question with any degree of accuracy or honesty at the moment!

SEY have so much exploration going on, and until we know what success they have had, we really can't quantify any potential gains, IMHO.

we are currently awaiting news of their latest well in Texas, and then we are due to start the offshore Mauritania drilling program very soon, so there is much to play for, and POTENTIALLY some great opportunities for the share price to northwards! (fingers crossed)

What I would say is that SEY is run by some ex BP guys that seem to know their stuff, and the contested takeover of FOG last year was considered to be a steal, so I think they are pretty shrewd personally.

I hold, and think SEY worth holding for the medium / longer term, as part of a balanced portfolio, as there is always some risk with any exploration stock.