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

RNS Number:1782J
Ascent Resources PLC
01 March 2005

Ascent Resources plc

Acquisition of interests in Gabon Production Sharing Contracts

Board Changes

Ascent Resources plc ("Ascent") has entered into an agreement with Hardman
Resources Ltd ("Hardman") to acquire two wholly owned subsidiaries, Gabon
Investments (Iris Marin) Pty Ltd and Gabon Investments (Themis Marin) Pty Ltd.
These companies hold a 12.86% Participating Interest in the Iris Marin
Production Sharing Contract ("PSC") and in the Themis Marin Production Sharing
Contract respectively.

The Iris Marin and Themis Marin PSCs cover two shallow water exploration
concessions offshore Gabon of 902 km2 and 607 km2 respectively.

Gabon is centrally situated in the West African oil & gas province and has a
long history of oil production. It has the third largest reserves and is the
fourth biggest producer in the region. Current production from Gabon is
approximately 250,000 bopd from its onshore and offshore fields.

Both the Themis Marin and Iris Marin concessions are surrounded by proven
oilfields and are close to pipelines and production infrastructure. Since these
concessions were awarded in 1999, a 3-D seismic survey has been acquired and
from these results a number of drilling locations have been identified. The
drilling of the first of two commitment wells is planned for this summer.

The other partners in both PSCs are:

Fusion Oil & Gas NL 20.57%Thats Sterling Energy

Premier Oil Gabon 18.00%

Petro Oil & Gas Corp of South Africa Pty Ltd 22.86%

Sunburnt Downs Pastoral Company Pty Ltd 25.71%



Initial consideration for the acquisition will be the issue of 12 million new
ordinary shares of Ascent to Hardman. Following completion, Ascent shall
reimburse Hardman for US$515,765 of past costs. Further payments will be made to
Hardman of A$500,000 in the event of successful recovery of hydrocarbon on
testing from a well in either of the PSCs and A$700,000 on issue of governmental
approval for exploitation of either of the PSCs.



Ascent is appointing Mr Jeremy Eng to the position of Managing Director. Mr Eng
has extensive experience in the independent oil and gas sector and a wide
network of contacts within the sector. This appointment underlines the
investment strategy of the Board to position Ascent as an active investor in the
junior oil and gas sector. At the same time, James Pratt and Gary Steinepreis
are resigning from the Board.



Jeremy Eng, aged 45, has a masters degree in petroleum engineering and more than
23 years of oil & gas industry experience. He has specialised in operations and
technical management for the independent sector. After commencing his career
with Schlumberger and subsequently working for Premier, Tullow and IPC, which
has since been renamed Lundin Oil, he founded and for many years ran a
successful petroleum engineering consultancy business. Recent positions include:
CEO of a private upstream gas company and Technical Director of WPN Resources
Ltd, a Canadian junior listed oil & gas company now called Grove Energy.



Following his appointment, Jeremy Eng will be granted options to subscribe for
10 million new ordinary shares at a price of 5p per share, exercisable at any
time between the first and fifth anniversaries of grant.



Ascent has agreed to undertake due diligence on two oil & gas interests held by
Jeremy Eng and others with a view to purchasing them on commercial terms. A
further announcement will be made in relation to this potential acquisition at
the appropriate time.

SWW, many thanks for posting that.

I think the large trades are between big players. But why?

check out the new research page from moneyam...great!

Nice one sw,your a star.

Should I buy more or wait for further fall?

i am happy with the stock all the way and i have recently added but that is just me. there are long term prospects here not just associated with one or two wells but any strike in the country SEY could have a piece of (potentially)..add on dips but please please dyor.

this may be a forgotton stock at the moment but as a bit of interest an hour ago the stock was hit in 100,000 as a MM trade. i point this out because it is unusual for the bid to remain when hit. it has in this case so i wonder if we have a large buyer out there slowly accumilating.

answers on a postcard.

rgds
PT

couldn't agree with you more prop.

I've forgotten something.........................

Oh yes, buys are showing as sells still.

Thats all.

Bye.

hello...forgot this one again...

What?

sorry SWW, i was making the point that SEY is just so static...check out AVE - on the move big time...excitement over car stuff ala RAC??? who cares they have some momentum!

Lets hope that the Gunners have some momentum in them tonight.

you bet...i am getting to the game early to soak up the atmosphere.....come on the gooners!

I can see us scoring goals tonight but like most Arsenal fans I have no confidence in our defense.

unfortunately you may be right...

3 goals up in 19 minutes would suit!

I am so please that the man is back for the champions, DENNIS BERGKAMP! we have a chance.

Football on the SEY thread - my god we've come to this!

It just goes to show a watched well never oils.

West Africa is the new black - its day will come.

SD