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

wish I had some cash to buy some when they're at this level

SEY just been a suggested 'buy' on Bloomberg!

MM bought 1,000,000 shares at 16.15 on Friday. Something is brewing.

onwards and upwards today - the MM was right eh?

There is a comment on iii BB saying that there was an item on Bloomberg TV last evening about Shell being interested in a venture where Sterling own 6% Oil Fields.

The BB speculates that this refers to Mauritannia??

Sounds right.

Did anyone see the item to clarify please?

Can't find a reference anywhere else.

All.

I appreciate it easy to get carried away with this question and any implications, but bear in mind they may be nothing to it.

martinslade

Just read back on this board, did the buy recommendation accompany anthing else or was it a stand alone comment?

It was a stand alone stock pick recommendation from a fund manager who was being imterviewed. The section was about 4-5 mins long with a look at the 12 month stock graph - there was NO mention of Shell.

There is a big write up in Fleet St Letter re energy ie oil and a forthcoming shortfall . Sterling is one of the 5 shares they tip .....Ladron

Thanks martin and Ladron

Probably wishful thinking.

Unlikely to be two items in respect of Sterling I would think.

Stand down.

:)

hi all, off for a week and it all goes quiet...too quiet!

i have a good feeling about this week. i am adding tomorrow.

rgds
proptrade

ladron,

sorry to ask this, but what were the other four?

Good news in respect of the Gulf Operations.

Hurricane Francis missed the platforms and has gone onto land with winds now of 35mph.

Source, Eye of the Storm.

Well nothing else is coming out so why not a weather report???

it has been rather quiet....is it the sport or entertainment report next!

anyone have any idea of when we will next have some data?

Thanks for the weather update SW! Emailed the company this morning for the date of the results and was told 24th or the 25th. Something to look forward to.

cheers gavdfc.

You're welcome Prop. Looking forward to seeing the results. Said they would also post me a copy when they are released, some light bedtime reading!

Woodside DJ:-

Warned on Weds of the risk of a dry hole as it prepares to kick off its $100m+ Mauritanian explo program.

CE told DJNW at the World Energy Congress in Sydney that the first well will test Dorade to the south of the existing Chinguetti and Tiof discoveries.

"We are highlighting that Dorade is a very high risk well.... and we think that it has a strong possibility of being a dry hole," "but if it does work it opens up a whole new area,"

Two drill ships contracted by Woodside arrive in Mauritania over the next few days.

"Thelast time I saw the schedule it was 9/9 and 11/9."

http://sg.biz.yahoo.com/040908/15/3mzea.html

This is only one well.

If Woodside really thought it dry, would they still drill it??

I don't think so!

Hardman Resources Limited
10 September 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 10 September 2004

CONTACT: Scott Spencer (08 9321 6881)

RE: MAURITANIA DRILLING PROGRAMME UPDATE


Hardman Resources Ltd ('Hardman' or 'the Company') is pleased to provide the
following information on the 2004 drilling programme offshore Mauritania.

As previously advised, two drilling vessels, the 'West Navigator' and the 'Stena
Tay' have been contracted to carry out the forthcoming drilling programme,
working in tandem and operating in water depths ranging from 300 metres to 1,700
metres. Both vessels are currently in transit and the 'West Navigator' is
expected to arrive on location on or about 11 September and the 'Stena Tay' is
expected to arrive on or about 15 September.

As previously reported the drilling programme is currently planned to include up
to twenty one wells, including a total of six exploration wells in PSC's A, B
and Block 2, four appraisal wells on the Tiof discovery and eleven Chinguetti
development wells. The final prospect selection and well drilling sequence will
be subject to change dependent on continuing technical work, initial drilling
results and operational issues. The presence of the two rigs also allows for
'batch drilling' wells - whereby one rig performs the same operation on a number
of wells in sequence rather than drilling a single well from top to bottom. The
second rig would then drill or complete the next section. The rigs work most
efficiently in this manner and this can result in very significant cost savings.

The programme is expected to begin with the 'West Navigator' drilling and casing
the 'top hole' sections on the Dorade-1 (PSC-2), Capitaine-1 and Tevet-1
exploration wells and a Tiof appraisal well (all in PSC B) before moving to the
Tiof-3 appraisal well which will then be drilled to total depth. The 'top hole'
section on these wells varies from approximately 600 metres to 1,000 metres of
drilled hole.

The planned Tiof appraisal programme includes 3 firm wells and a contingent
fourth appraisal well, subject to additional seismic and technical studies. We
expect that the Tiof-3 well will be completed and flow tested in a similar
manner to the successful Chinguetti 4-5 Early Development Well ('EDW').

To maintain the Chinguetti field development schedule and because of the late
arrival of the rigs, the 'Stena Tay' will, on arrival, drill a Chinguetti water
injection well before beginning the exploration programme. The 'Stena Tay' will
then move to the Tevet-1 well,which because of its proximity to Chinguetti is
now expected to be the first exploration prospect to be drilled to total depth.
We then expect the 'Stena Tay' to move to other exploration wells while the
'West Navigator' continues work on the Tiof programme.

Hardman intends to report progress of the drilling programme in its regular
weekly release every Tuesday morning with special releases as required.

Interests in the three production sharing contract areas that will be drilled
are:

Company PSC A PSC B PSC C2
Woodside group companies (operator) 53.846% 53.846% 48%
Hardman group companies 24.3% 21.6% 28.8%
BG group companies 13.084% 11.63%
Premier group companies 9.231%
Fusion Mauritania A Ltd* 4.615%
ROC Oil group companies 4.155% 3.693% 3.2%
Energy Africa 20%
* Premier has 29.9% interest in Fusion Mauritania A Ltd



SCOTT SPENCER
DIRECTOR

A bit more to this press release.

Keep it coming Harry............


Sterling Energy PLC
10 September 2004

Sterling Energy is pleased to announce the imminent start of the 2004-2005
drilling campaign offshore Mauritania, where it holds carried royalty interests
in two licences.



The campaign will include up to 20 exploration and development wells, including
appraisal drilling on the 200 million barrel plus Tiof discovery on licence PSC
B, and development of the 125 million barrel Chinguetti Field.



Sterling Chief Executive Harry Wilson said: 'We are delighted that this campaign
is now about to get underway. Our royalty agreement with Premier means the wells
will be drilled and completed at no cost to Sterling, offering large upside to
our shareholders.'



Sterling holds interests in the licence areas PSC A and PSC B through its
successful acquisition of Fusion Oil and Gas plc last December. Fusion had
previously completed a royalty agreement with Premier Oil plc covering 6% of the
equity in PSC B and 3% in PSC A. As a result of this agreement Sterling will be
paid a cash sum for each barrel produced net to these interests, based on a
sliding scale related to oil price. At $30 oil this is $2.75 per barrel, and at
$40 oil it is $4.75 per barrel.



In addition for every discovery in excess of 50 million barrels Sterling will
receive from Premier a cash payment of $2 million in PSC B, and $1 million in
PSC A.



Operator Woodside Petroleum Ltd today issued the following details on the
Australian Stock Exchange:



DRILLING ACTIVITY UPDATE:

OFFSHORE RIG ARRIVAL IN MAURITANIA SIGNALS START OF DRILLING CAMPAIGN





Woodside Mauritania Ltd., a wholly-owned subsidiary of Woodside Petroleum Ltd.,
expects the West Navigator to arrive in offshore Mauritania today. The West
Navigator is the first of two deep-water drilling rigs that will work in tandem
on the 2004-05 drilling program, previously announced on 5 July, 2004.



The West Navigator is expected to begin drilling activities on 11th September.
The second drill rig to be used in this campaign, the Stena Tay, is expected to
arrive around the 15 September 2004. The presence of the two rigs allows for '
batch drilling' of wells whereby one rig performs the same operation on a number
of wells in sequence rather than drilling a single well from top to bottom. The
West Navigator will drill the 'top hole' sections of a number of exploration and
appraisal wells. Following completion of the 'top holes', the wells will be
temporarily suspended before the drilling of the 'bottom hole' target sections
by the Stena Tay. This tandem drilling arrangement utilising the two rigs will
achieve increased efficiency during the campaign.



The West Navigator will commence 'top hole' drilling of the exploration wells
Dorade, Capitaine, Tevet, and the Tiof-A appraisal well. After completing the
batch drilling of the 'top holes', the West Navigator will move to completely
drill the Tiof-3 appraisal well on the Tiof discovery. This well is currently
planned to be completed and flow tested.



The Stena Tay will commence its drilling activities with a development well on
the Chinguetti field in PSC Area B, followed by the 'bottom holes' on the wells
commenced by the West Navigator.



Equity interests in the relevant permits in Mauritania are as follows:


Company PSC A PSCB PSC C2
Woodside group companies (operator) 53.846% 53.846% 48%
Hardman group companies 24.3% 21.6% 28.8%
BG group companies 13.084% 11.63%
Premier group companies 9.231%
Fusion Mauritania A Ltd 4.615%
ROC Oil group companies 4.155% 3.693% 3.2%
Energy Africa 20%





For further information please contact:



Harry Wilson, Chief Executive, Sterling Energy plc: 01582 462 121

Allan Piper, First City Financial Public Relations: 020 7436 7486
07736 064 982




This information is provided by RNS
The company news service from the London Stock Exchange