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

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

I only hope it happens in my life time. SEY in now under reappraisal for me.

MS

You will need the patience of a saint for this one. It's a play for 2006 not 2005. I'll hold till the next set of figures and the reapraise. It could be dead money for the rest of the year.

Dead money which doubles next year is still a 41% p.a. increase - better than the average portfolio - patience will reward.

If you think it's a dog, though, dump it now.

I'm holding till 2006 if necessary, and then some if it still merits at that point in time.

SD

ouch...down today on nothing. patience in this one...

the buyers at 17 are being shaken out. do we have any idea when to expect a meaningful announcement?

Check out HNR's half yearly report on RNS. Lot's of info on Tiof/Chinguetti etc. Good summary of events to date as well.

P

cheers...

Buyers coming back in now.

thats how to clear a 5 million seller...spook him and move then move the price back up!

Finals should be released sometime in May. Not sure when we will get the next drilling update as they have stated that they will not be releasing something every Tuesday.

The following is from the HNR RNS today. As Parsonsmead points out, makes decent reading so thought I would post it for those who might not have seen this mornings RNS. Looking at their statement re Tiof 1bn OIP, what will be important is what part of this is recoverable.

Mauritania

Exploration:
The 2004 drilling program commenced in September with four exploration wells
being drilled. The first well, Tevet-1 (PSC B), intersected a gross hydrocarbon
column of 114 metres comprising a 70 metre gas column and a 44 metre oil column.
The Dorade-1 (PSC Block 2), Capitaine-1 and Merou-1 (PSC B) wells were
unsuccessful and subsequently plugged and abandoned.

A 3,059 kilometre 3D seismic survey in PSC Area A was completed on 14 November
2004. The survey vessel then moved to PSC 6 in the north where it commenced
recording a 3,100 square kilometre 3D survey.

Appraisal:
The Tiof appraisal programme has seen four wells drilled to date.

Tiof-3 encountered a gross oil column of 134 metres containing several
individual sands of variable thickness. The well was then sidetracked (as
planned) and successfully cored the reservoir intervals, but because of
mechanical problems the well could not be flow tested to its potential and
was suspended for possible future use.


Tiof-4 encountered oil over a gross interval of 113 metres in several
individual sands of variable thickness while Tiof-5 encountered an oil
column of at least 23 metres. These wells were not planned for flow testing.



Tiof-6 commenced in late December 2004 and encountered oil over a gross
interval of 123 metres. It is interpreted that no gas or water has been
intersected by the well and the interval comprises several good quality
sands of varying thickness. The well underwent an extended flow test in
February 2005. The maximum rate the well flowed at was approximately 12,400
barrels of oil plus 11 million standard cubic feet of gas per day with a
stable rate of 9,150 barrels of oil per day. The well has now been suspended
as a potential future oil production well.

It is currently estimated Tiof has in excess of 1 billion barrels of oil in
place. The focus going forward will be to assess development options to realise
recoverable reserves.

Development:
The Chinguetti Field Development was formally committed in May 2004 with project
execution commencing in June. Field development is taking place in two stages -
Phase I comprises 6 oil production wells and 5 water injection wells producing
to a Floating Production, Storage and Offloading unit (FPSO), moored in 800m
water, some 80km from the Mauritanian coast. Phase II comprises the drilling of
an additional 4 production wells, notionally 2 years after project start-up.
Oil and produced water will be separated on the FPSO; excess gas will be
disposed of in the nearby Banda field via a dedicated well. Separated oil will
be stored on the FPSO and off-lifted via tanker directly to international
markets.

Project progress at year end (45% overall) was broadly in-line with expectation.
In particular, two significant milestones occurred in December. Firstly, the
Berge Helene crude carrier arrived into Singapore to undergo conversion to an
FPSO for use on the field. Secondly, two deep-water rigs - the Stena Tay and
West Navigator arrived in Mauritanian waters to commence development drilling
and completion activities. The target date for first oil remains March 2006.

Sterling Energy gets a mention in Money Week again today,"the shares trade on a multiple of four times 2006 cash flow",Buy. so what are you waiting for, get in there my son! goal.

all rwads well. price now flat on the day. first bit of excitement in weeks!

By the way, M Week think that the energy sector will be bull for the next few years to come.