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

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.

Andy

A great summation and answer. I would add though that i think to build in moderate success from their planned drilling could easily see the price double or triple.

The point is that I think there is almost too much of an exploration discount in the stock as it stands today and i think that once the drill program commences SEY will rise into at least the mid 20's.

rgds
proptrade

Cheers guys, thanks for the summary. I am already holding these and have topped up as the stock has moved along. First in at 15.75 then at 14.90 and then at 16.60. I am quite happy to hold and am quite optomistic about these. Keep up all the good work guys.

Regards
Ray

Holding these is the best policy. I usually try and trade some of my oil portfolio. Usually, I am able to increase my holding with some timely sells and buys back. But SEY don,t really move that much and when good news does come they will rocket and I wouldn't want to be out of them.
I think these have excellent potential for when it all comes together.

Good luck.

Proptrade,

Thanks, and I agree, if drilling results are decent, IMHO we will see 20p, maybe some more, dependent on what is found.


grandadg90 / georgeski,

Exectly the way I have invested in SEY, building a position and not trading, as the spread's a killer, and who knows when some news may be released?

Read on another BB that this weeks IC has a review of the junior oil companies and rates SEY a buy - balanced portoflio with strong upside. Not read the mag so can't confirm it.

always good to hear. a mention in the IC would be great. we already know the quality on the name but it would be good to spread the investor fan base.

Hi Prop,

Seems the tip in IC brought in some new buyers today, or brought back some that might have sold over the last few weeks. Hope they plan on staying for quite a while. This is definitely not a share to trade IMO, buy and hold I would say. I'm happy holding this for quite a while. Decent upside potential from here, but as you say, we already know the quality here.

IC view of oil shares: fairly priced stocks are AMINEX, ANTRIM ENERGY, PETROCELTIC, TEXAS OIL & GAS, IMPERIAL ENERGY; speculative buys are BLACK ROCK OIL & GAS, DESIRE PETROLEUM, EMERALD ENERGY, HEREWARD VENTURES; good value are CENTURION ENERGY, EDINBURGH OIL & GAS, JKX OIL & GAS, MELROSE RESOURCES, NELSON RESOURCES, FIRST CALGARY PETROLEUMS, PAN ANDEAN, SEFTON RESOURCES, WESTMOUNT; one with good-looking assets with plenty of upside is HARDMAN RESOURCES; two whose upside remains attractive are NORTHERN PETROLEUM and REGAL PETROLEUM; good spread of risk WESTMOUNT; purely speculative PETREL RESOURCES; could go bust; sell RAMCO ENERGY; balanced portfolio with strong upside; buy STERLING ENERGY

it just reads beautifully. this almost has pension fund appeal to it!

Gavdfc, i so agree with the holding strategy. i am in a mind to add if SEY gets knocked with the rest of the mkt. should all pick up next month.

rgds
proptrade

Should be this week acording to my memory.
Spudding High Island 69 or was it 52?
One of them anyhow.

yup, this week some time, also from memory

This expalins the dip today.

I do not believe any alternate power in Mauritannia, (if it comes to a change of Government), can get the oil out of the ground without the expertise of the Oil Companies that are there.

I have topped up on HNR and am already up on the day.

You make your own decisions but it seems a good day to buy.



Army officers held in Mauritania


Ould Taya himself came to power in a coup
Several military officers are said to have been arrested in the Mauritanian capital, Nouakchott.
The government has not commented on the reports which link the detentions to a possible coup plot against President Maaoya Sid'Ahmed Ould Taya.

President Taya survived a coup attempt in June 2003 which sparked off days of fighting in the capital.

The capital is reported to be calm, but some new secuity measures. Troops have also been confined to their barracks.

Sources have been talking about 18 officers being arrested and appear to be suggesting the involvement of Islamists.

Some 120 soldiers are still being held in prison awaiting trial following the failed coup last year.

President Taya took power in a bloodless coup in December 1984 and has been re-elected three times since.

SW - agree today a good buying opp IMO. Found this, failed coup -

Failed coup in Mauritania?


Tuesday 10 August 2004, 1:09 Makka Time, 22:09 GMT


In power since 1984, President Taya has ruled with an iron fist



Related:
Mauritanian elections marred by fraud
Mauritania protests quelled before poll



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Mauritanian troops have been confined to barracks in the capital, Nouakchott, after unconfirmed reports of a foiled putsch.


An opposition deputy and a human-rights lawyer on Monday said there was talk of more than a dozen army officers having been arrested.

The apparent attempt to kill President Muaawya walad Sidi Ahmad Taya took place at the airport as he was leaving for France.

"We've been consigned [to barracks]," said a lower-ranking soldier in the capital, where people were going about their business as usual.

There was no official confirmation. Neither the presidency nor military police were immediately available for comment.

Relative calm

There was no sign of increased security at the presidency in the capital or at the main army base.

Mauritania's pro-Western leader seized power in a 1984 coup and has ruled the West African country with an iron fist ever since.

Renegade soldiers tried to depose Taya in June last year, but the uprising was crushed in two days of street battles.

http://english.aljazeera.net/NR/exeres/E542E6A9-B05B-4A0B-9F27-50C164A22D14.htm

Looks like support at 15p, it just slip below that, and I was about to buy, then blimey, click up straight away!

Watching in case it happens again, if it does, I will dip in again.

Just so everyone knows, all the Mauritannian interst stoocks are down by a mile, so Sterling has held quite well so far, (famous last words I bet).

"Renegade soldiers tried to depose Taya in June last year, but the uprising was crushed in two days of street battles."

From the Aljazeera article.

Similar "coup" happened last year and look what happend to the sp since then! Considering the risks associated with some other oil co's, I know where I'd rather have my money. That's just my opinion though, others may differ. Far too much upside potential with SEY to be put off with this "coup".

oh the external shocks...don't u just love them! NOT

agree with all. buying opportunity. the world is not too fond of coup's at the moment. expect some turmoil but then govt to be restored.

Back to normal, so the price should go back to normal too.

Knowing the way the market moves, I bet it won't till there is a result or two from Sterling!

Hardman Resources Limited
11 August 2004




STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 11 August 2004

CONTACT: Scott Spencer (08 9321 6881)

RE: MAURITANIA UPDATE

PAGES: 1

Hardman Resources Ltd advises that Woodside's staff and contractors in
Mauritania have returned to work and the company has resumed travel to the West
African country following yesterday's reports that several military personnel
had been arrested.

Work resumed on Tuesday (Mauritanian time). The situation in the capital is
described as calm with business continuing as normal.

Hardman and its partners will continue to monitor the situation.





SCOTT SPENCER
DIRECTOR

ok, recovery in place. now where are the drilling updates?