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

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

I agree with proptrade.

Apart from the Majors all oil stocks are down.

We really need some plus news now Harry!

Just remembered they had bad storms in the Gulf, could have something to do with it.

Seawallwalker,

The storms weren't offshore Texas, but Florida, and nothing on SEY's website, so I don't think storm interference has lowered the price.

News, preferably good, would be very nice harry!

No, there were storms reported in the Gulf which affeected oil and gas production.

There have been two reports a week apart for the last 2 weeks both on Bloomberg TV. came out as one of the many reasons why oil had gotten another upward hike.

These may have had an impact, if so they will be short lived.

Well Harry?

CNN

http://www.usatoday.com/weather/twc_images/strm2_track_440x297.jpg

Tropical Storm Bonnie forms in Gulf of Mexico
Monday, August 9, 2004 Posted: 6:51 PM EDT (2251 GMT)



Satellite image taken Monday at 6:15 p.m. ET


The Beach Inn on Anna Maria Island
Surrounded by the Tampa Bay and Gulf of Mexico, come relax in a romantic...
www.thebeachinn.com



YOUR E-MAIL ALERTS
Weather

or Create your own

Manage alerts | What is this?


MIAMI, Florida (Reuters) -- Tropical Storm Bonnie formed in the Gulf of Mexico on Monday, the second named storm of the 2004 Atlantic-Caribbean hurricane season, the U.S. National Hurricane Center said.

The Miami-based hurricane center said Bonnie was packing winds of 45 mph (75 kph) and was 410 miles (660 km) south of the mouth of the Mississippi river, moving slowly northwest in a loop that could take it toward the Florida Panhandle.

The storm's winds were forecast to increase in strength over the next three days to 60 mph (97 kph), a forecaster at the center said.

Bonnie's position at 4 p.m. CDT (5 p.m. EDT/2100 GMT) was near latitude 23.2 north, longitude 88.7 west, north of the Yucatan Peninsula.

The tropical storm season runs from June 1 to November 30.

Hurricane Alex last week flooded hundreds of homes and cars as it grazed the Outer Banks, a popular tourist spot, off the coast of North Carolina.

The swirling weather systems that become tropical storms and hurricanes are given names when their winds reach 39 mph (63 kph). Storms become hurricanes at 74 mph (119 kph).

U.S. Department of the Interior
Minerals Management Service
Office of Public Affairs


--------------------------------------------------------------------------------
For Release: August 12, 2004 Contact: Debra Winbush
(504) 736-2597
Caryl Fagot
(504) 736-2590


Tropical Storm Bonnie Evacuation and Production Shut-in Statistics
as of Thursday, August 12, 2004

Next report will be issued Friday, August 13, 2004 at 2:00 p.m. CDT
For Information Concerning the Storm Click on www.gomr.mms.gov

*** This survey is reflective of 41 companies reports.

Districts
Lake Jackson
Lake Charles
Lafayette
Houma
New Orleans
Total

Platforms Evacuated
0
7
7
37
103
154

Rigs Evacuated
0
0
3
10
19
32









Oil, BOPD Shut-in
0
15,379
16,325
93,046
356,247
480,997

Gas, MMCF/D Shut-In
0
67.42
47.70
210.93
788.28
1,114.32


These evacuations are equivalent to 20.16% of 764 manned platforms and 27.35% of 117 rigs currently operating in the GOM.

This shut-in oil production is equivalent to 28.29% of daily production of oil in GOM which is approximately 1.7 million BOPD.

This shut-in gas production is equivalent to 9.06% of the daily production of gas in the GOM which is approximately 12.3 BCFPD.

Statistics as of Wednesday, August 11, 2004

*** This survey is reflective of 33 companies reports.

Districts
Lake Jackson
Lake Charles
Lafayette
Houma
New Orleans
Total

Platforms Evacuated
1
11
11
44
41
108

Rigs Evacuated
0
0
3
17
17
37









Oil, BOPD Shut-in
0
15,770
15,932
114,596
273,079
419,377

Gas, MMCF/D Shut-In
1.20
56.54
47.20
274.40
1,668.63
2,047.97


The cumulative (08/10/04-08/12/04) shut-in oil production is 941,780 bbls which equivalent to 0.156% of the yearly production of oil in the GOM which is approximately 605 million barrels.

The cumulative (08/10/04-08/12/04) shut-in gas production is 3,194.0 MMCF which is equivalent to 0.072% of the yearly production of gas in the GOM which is approximately 4.45 TCF.

The Minerals Management Service is the federal agency in the U.S. Department of the Interior that manages the nations oil, natural gas, and other mineral resources on the Outer Continental Shelf in Federal offshore waters. The agency also collects, accounts for, and disburses mineral revenues from Federal and American Indian lands. MMS disbursed more than $8 billion in FY 2003 and more than $135 billion since the agency was created in 1982. Nearly $1 billion from those revenues go into the Land and Water Conservation Fund annually for the acquisition and development of state and Federal park and recreation lands.

Nothing unusual for this time of year.

ok, so there are storms!

SW, i was excited when i scrolled down, i thought we were looking at the map of a block because there had been some news!

i think this will blow over (excuse the pun) and hence is a buying opportunity.

rgds
proptrade

Anyone know why they are suppressing the price of SEY today? It looks like it should be flying!

funny old market...news will be the catayst. buying opp right now.

Supress is the right word.

1m buys and the price goes down!

Maybe the mm is a Bear?

doubtful. probably just touching down on their positions ahead of news. wierd day today.