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

Lifted from TMF poster is entrust.

Evolution have released an updated note on Sterling(SEY) post the Tiof flow test. They haven't(unsurprisingly) changed their rating and stick with the BUY comment. They have a price target of 27p against the current market price of 17p. There is nothing amazingly new in it to be honest but here are a couple of snippets...

This is good news for all the Mauritanian partners in PSC B ( Woodside, Hardman, Premier, ROC and Sterling), especially after the disappointment of not being able to flow test Tiof 4 due to mechanical problems. The flow test is also good news as its shows that despite concerns over reservoir quality (reckoned to be poorer than in Chinguetti from electric log analysis), the Tiof field is capable of sustained high flow rates. Hardman has confirmed the oil-in-place number of the Tiof field at around 1 billion barrels in place. This flow rate would therefore confirm the recoverable reserve number of 350m barrels to be found in the Hardman corporate brochure recently updated on their website.

and...

In addition, should the Tiof development go ahead, there is the probability of the Mauritanian government backing in for its 12% stake. If this happens in 2005, the government is likely to require funding, as with the Chinguetti deal in 2004, and Sterling, as a strategic partner with the government could have the opportunity to participate.

Entrust

sww - re: SEY posting RNS

I guess it all depends on whose financial services that you use. As well as this site, I use moneyextra to mainly gather news stories. On their site, the Hardman Tuesday updates are always copied to the SEY news area, and so the two are linked (though not as explicitly as we may like).

I note that the bid/offer split is widening as I write, so maybe we might see a little jump in the sp later today. Let's hope so.

sf fair enough, I had seen that on iii.

I think you are right in respect of the price, but it wont be a lot and certainly, we have been there before.

I hold HNR too, so am not too unhappy.

sww (and all)

Reading back over the last few days posts I am of the opinion that a lot of people are missing the point (not your goodself though, sir). Or maybe I've misunderstood.

As I understand it, regardless of who owns what proportion of what oil well, at the end of the day SEY will be THE Mauritanian oil company. They will have a slice of the action on all fronts - petrol stations, etc. They will effectively become the BP/Shell of Mauritania. Can only be good in the long run.

A decent drilling report at last! And shock horror... a tick up!

Finally!!!

WHY are they keeping so quiet about it- the share price should be rising fast! Ah well patience is all we need as Warren B. says!

Well I never. It actually moved.

MS

i just bought some more at 17.50....come on the SSSSEEEEEYYYYYYYYYYYYYYYYYYYYYYYY!

No reply or response to my email, unless of course the broker note was the response.

Probably the right route I suppose but I can't help but wonder why they say nothing.

Up it is going again, if it has not yet reached the sock watch.

Amazing display from this stock today!

If anyone had real bottle there was plenty of money to be made, I hadn't.

Well done prop.

Any one short on this one????

nope, and that was my 50/- at 17.5. the time is right and i am having fun, i want SEY to be my number one....number one...everybody!

Keep peddling people............

Faster

faster.

Go on!!!

Sneaky 1 mil sell at close of trading.

MS

up tomorrow...

Uncle Harry.

A Nice Man.

A Very Nice Man.

A Very, Very Nice Man.

Sterling are happy that the news items for Hardman and Premier, which apply to Sterling, are sufficiently linked on such sites as iii and ADVFN.

Fair comment, they are.

It's just here they are not.

Speaks volumes that Harry has made the effort to reply to a small shareholder like me.

Good PR.

A Very Very Very Nice Man.

;-))

Now I wonder when I will get a reply from Tony Blair??

SWW, I also queried that point with them yesterday via an email and received a similar response, but not from Harry. As is the case with pretty much every query I have had, I got a reply, which is good.

Was also told that the new website should be up and running soon.

Also, was given an exact rundown on PSC B and what SEY receive. Nothing new to us, but will post for those who are maybe new holders or unsure exactly of the situation:

"Firstly, we receive a discovery bonus from Premier of $2m for each new discovery over 50 million barrels declared commercial there are presently 3 potential field developments where this might apply Tiof, Tevet & Banda. Secondly, we receive from Premier a sliding scale royalty payment on 6% of the gross production taken out of the license (this will be reduced by the government back-in where we also have an interest). By way of example, the sliding scale royalty is $2.75 per barrel when oil price is $28 31 per barrel and $4.75 per barrel when oil price is $40 43 per barrel. This royalty payment comes to us without any costs apart from tax. So it is clearly in Sterlings interests to see as much drilling by the partners as possible in the license. I hope this is clear."

Thanks gav, got that too, but as we knew, but of course I did not think as helpfully to others, as you have.

Thank you.

As I got mine from Harry, I am going to frame it and send him a Christmas and Birthday Card.

In short it is good they took the time to do that.

They've always been very helpful to me when I've contacted them with a question. Got a very quick response last year when I contacted them re the hurricane problems in the GOM, which I posted last year on here.

As to Harry, Lol! Maybe he will send you a card too! But I wouldn't expect a reply from Tony Blair as quickly!