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

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?

Glad to see normality has resumed here and we moved back up today. Decent buying today, delayed 500k late in the day. Plenty for us to look forward to re some drilling news.

This is yet another share where the more shares get sold the lower the price goes. Its solid buys today ,the market is buoyant, and lookwhats happenning?
I would like to see more transparency of the MM's activities and greater acvcountability for their actions.

From oilbarrel.com today.

Sums up all our hopes and prospects.

Chances are better than 1 in 2 of finding more oil and or gas in Mauritannia.

Read the full report.



13.08.2004
Attempted Coup Jangles Investor Nerves But Mauritania Explorers Report
Business As Usual
Reports earlier this week of an attempted coup in Mauritania, the latest deepwater darling of the international oil industry, knocked the share prices of companies with heavy exposure to the North West African country. Among those to suffer from investor fright on Tuesday were London-listed Premier Oil, which slipped 4p to 595p, Hardman Resources, down 8.75p to 81.25p, and Dana Petroleum, which retreated 15.5p to 324p.

However, the fright was short lived. By Wednesday, the Mauritanian defence minister Baba Ould Sidi said the situation was under control.

"The attempted coup d'etat has been foiled and the putschists have been arrested, the minister said in a recorded message on state radio. Between 20 and 30 members of the army were reported to have been arrested.

The minister said the plotters were the very same people who led the aborted putsch in June last year" and that they had planned to topple President Maaouya Ould Sid'Ahmed Taya while he was away in France.

Tensions have edged up in the past year and the government has clamped down on Islamist groups, who remain highly critical of its diplomatic relations with Israel. The government blamed Islamists for the June 2003 coup attempt, which saw two days of fierce fighting in the capital Nouakchott in the most serious challenge to date to the rule of President Taya, who took power in a bloodless coup in December 1984. Some 120 soldiers are still being held in prison over that alleged plot.

Woodside Energy, the leader of the main exploration group in Mauritania, put out a statement on Wednesday to say that its staff and contractors in Mauritania had returned to work and resumed travel to the country.

The situation in the capital is described as calm with business continuing as normal, the company said.

Despite the inevitable flutter of investor nerves at news of the coup attempt, most observers agree that the business of developing and extracting Mauritanias black gold will be largely undisturbed by any onshore instability because the main oil and gas riches lie 75 km offshore. That has certainly been the case in Cote dIvoire where ongoing political turbulence has failed to disrupt its offshore production, or Angola, where multi-million dollar projects continued despite the long-running civil war, which ended in 2002, and in Nigeria it is the onshore oil supplies that suffer from sabotage and disruption - the country deepwater finds are unperturbed by the strife inland.

The main risk lies in any changes to the commercial terms which a new government might impose. Yet, as international explorers like to point out, even safe home-grown production can be subject to unexpected changes to the petroleum regime: British Chancellor Gordon Browns North Sea tax hike in 2002 being a case in point.

And the potential prize on offer is such that the oil companies are likely to remain committed to coup-prone Mauritania for many years yet to come. The assets are world-class in scale, with the proven and probable reserve base of the Chinguetti and Tiof oil deposits adding up to just over 100 million barrels and the Banda gas find also looking substantial. And it looks like theres plenty more where that came from: to date, exploration drilling by the Woodside-led joint venture has racked up a 100 per cent strike rate in the Miocene channel system - Ted Ellyard, the bullish managing director of Hardman Resources, reckons the risk factor on the Miocene prospects is now “better than a one in two chance of success - while Danas Pelican-1 gas find has also opened up the possibility of reserves outlying the core Woodside acreage.

Work is already underway to progress the Chinguetti find towards first production by the end of 2005 at a rate of 75,000 barrels per day. Tiof, which could dwarf Chinguetti in size, could be onstream 18 months later. Further exploration work this summer and autumn could well add further world-beating discoveries to Mauritanias rapidly growing oil and gas base.

Thanks for that SW. Business as usual in Mauritania. I wonder if those who sold earler this week will have bought back in now.

I believe that some will have, but there are others who are too scared to do it again.

Oil anywhere except the north sea seems to come with baggage in respect of what goes on in the background in the country.

I maintain that the oil stays in the ground unless someone takes it out, and that is not likely to be the citizens of, in this case Mauritannia.

They will see the benefits of it though, whoever rules the country and any goverment will know that.

Our minds need to shut out all the background non core issues if you put your money into oil and prospecting.

SHOP broker Evolution told shareholders of Sterling Energy (p dearer at 15p) not to fret about the attempted military coup in Mauritania. Several arrests have been made and its business as usual. The groups offshore exploration drilling programme is unaffected. Drilling in the next six months should ensure positive news flow and help it to reach its target price of 20p.

All shares have some level of risk attatched to them, some higher some lower. Same with oil shares, some riskier, some not so risky. As you point out SW, North Sea is a lower risk, some areas are higher.

The value of oil in the ground is just too high to let some wannabe dictator attempt to seize power in Mauritania. I believe that any attempt that was successful would be met with military action, perhaps by the US or the UN?

Even with a successful coup, how much would this affect the oil business there? As the article points out: "most observers agree that the business of developing and extracting Mauritanias black gold will be largely undisturbed by any onshore instability because the main oil and gas riches lie 75 km offshore." Whats in the ground is just too important and valuable not to have it extracted.

Look at the risks involved in doing business in Iraq? I know where I would rather invest and it's not Iraq!

Justin Urquart Stewart of Seven Investment Management just been interviewed on CNBC. Was asked about oil companies. His answer was that people should be looking at the exploration companies, mentioned those in Mauritania, he liked them. But we already knew that didn't we!

all interesting and informative but now i think we all need some action...bring on the drill updates!

Seem to have taken a dip - haven't seen it down this much for a little while??

oil price rise seems to have slowed and most of the sector is hit. pick 'em while they are cheap!

bad news coming?

Bit of a pullback compared to others in the oil sector.

not really, most of my watch page is easier for oils