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

cheers, you too sir.

Think I'll be joining Mickey with a few Stella's tonight. Some positive press over the weekend would be nice. A good weekend to all.

gavdfc, nearly every share mag or tipster I have read recommend SEY I haven't seen bad press on the company, as for Me a pint or two of ESB or Abbott ale will go down a treat to celebrate SEY & the gunners winning.

Wow! what a good start.

agreed!

E it's grand.

I'll SEY

Any shorters in the house?

Apparently there is an update from Evolution puitting the price at 29p plus, anyone got a sight of it please?

Stogdog..very drole...and loving it!

Snatched from TMF, has no link but this is what it says.

Evolution have updated their comment on Sterling(SEY) post the Dome Flore farmout. They have this to say...

This deal is yet another demonstration of Sterling's management's innovative approach to portfolio management, minimising costs and creating value for shareholders.
The value to Sterling could be considerable in our most recent NAV and EMV calculation we attributed 1.8p/share of value to these reserves based on 500m barrels in place at 20% recovery factor risked at 50%. The increase in the reserves to 800m and recovery factor (still conservative at 25%) increases this to 4.8p/share and our group NAV core plus risked EMV of exploration rises to 29.5p/share.

Entrust

Seems to have been a decent day here. Cheers SWW for posting the Evo note from Entrust. Haven't read the full update yet. This from Killik's morning note today:

"Junior oil and gas stocks continue to resume their upward path. Regal Petroleum was featured in the press this morning ahead of an anticipated positive drilling report. Sterling Energy remains strong following Fridays farm out agreement. A small mention in the Saturday FT from Kevin Goldstein has highlighted the potential asset play of Westmount Energy (WTE) which has a large proportion of its net asset value in Sterling Energy shares. Westmount is up 5% in early trade to 103p."

Nice spot gav.

Time for a breakaway I think with a nice cup of tea in a big thick cup.

Missed most of the day. Just made a cuppa so will have that and take a quick scan to see what's been happening today. Will see if I can get a hold of the full updated note.

Goal, agree with you re the tips we have had here. Hope that the Abbott's ales went down a treat at the weekend. I know my Stella's did! :-))

Who`s stella,,,afternoon all whats that i see profit on sey.

guys,

A good day for SEY today, nice to see recent favourable press comment, and that has maybe drawn the share to the attention of some potential new investors.

I have been waiting to top up, and decided this morning was the time to do it.

I intend holding those shares for the longer term, until the revenue begins to seriously flow into SEY's coffers.

I have expectations of excellent results in May, and I think we will have breached the 20p resistance before then.

Dave, good old Stella, never lets you down!

Andy, agree with you re the revenue stream over the coming years, should be strong once Chinguetti is up and running from 2006. Also, another couple of deals like last weeks will do no harm at all, especially with a strong oil price. And lets not forget the royalty and discovery bonus from PSC A and B.

Found this from The Edge Daily:

Halim may sell oil block to Seloga



Malaysian businessman Halim Saad may sell his interest in an African oil block to Seloga Holdings Bhd, a company he runs and in which he holds a key stake, a source close to the situation said on March 21.

Halim is the chief executive of Seloga and holds a 32% stake in the firm, which is developing a RM270 million bitumen processing plant in eastern Terengganu state.

"Vertical integration is of course very good for this (bitumen) project. Of course, these are all options," the source told Reuters. Halim, the former controlling shareholder of industrial group Renong, could not be reached for comment.

Shares of Seloga closed over 15% or 18 sen higher at RM1.37 on speculation that the oil project would find its way into Seloga - off its intra-day high of RM1.47.

Last Friday, Halim announced that his privately held Markmore Energy (Labuan) Ltd bought a 55% stake in the Dome Flore block, located in West Africa off the coasts of Senegal and Guinea Bissau, from Britain's Sterling Energy Plc for an undisclosed price.

The block has proven petroleum reserves estimated at 800 million barrels of heavy oil as well as a significant amount of light oil reserves.

Heavy oil is often used to make industrial products like asphalt or bitumen, although it can also be refined to make products like gasoline.

Markmore Energy expects that most of the oil would be consumed in Senegal and Guinea Bissau, although larger volumes of production could be sold to international markets. It could even be sold to the refinery that Seloga is building.

"Assuming all engineering work shows positive (results), oil production will start around end-2006 and will increase in the next few years," Markmore Energy said in a statement. - Reuters


Some other related stories:

http://www.mmail.com.my/Current_News/MM/Monday/MailMoney/20050321115905/Article/index_html


http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_c2d105fc-cb73c03a-1b11b790-261610e0


http://biz.thestar.com.my/news/story.asp?file=/2005/3/19/business/10463627&sec=business

gavdfc
cheers for the article and links....most appreciated as always.
rgds
PT

You're welcome Prop. The article made interesting reading re the bitumen plant in Terangganua. As the artcile states, heavy oil is used to make bitumen and there is estimated 800mmbn in this block. I don't think Halim would get so heavily involved at Dome Flore if he wasn't so confident that it was a worthwhile investment. An interesting story seems to be unfolding here.

and yet again a side story to the real assets. loving the prospects here.