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

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.

Everything is going red on my watchlist today.

I mean everything.

I am no longer watching my watchlist.

Off to the sea wall.

Bye all, have a good day.

Cheers gav for the info.

SWW, i take it then you are not short anything on your watchlist!

have a lovely walk....

No problems Dave. Just me doing some thinking out loud! Seems to be a bit of a quieter day for some oils today. I wonder if we will see some more side stories over the coming months/years!

Like SWW a red day allround for me. I thought this might happen when I saw where the markets closed across the pond. Don't short.

MS

it really is a crappy day all round. 2nd liners all taking a breather. agree about not being short, can snap back in an instant. make sure that you don't hold some of the s**t that has floated in the last few months...that will be shaken out

I just hope that some of the garbage that has recently been floated doesn't have a negative impact on the sector as a whole. White Bile springs to mind. A lot of people may get badly burned on that one.

I'm not into new floats. I know I've missed out but I like to be on safer ground. Track record and management performance is a big influence in my decision making. It still hasn't stopped me buying a few dogs though.

MS

Mickey we have all bought a few dogs in our time,looking at my board is like looking at Battersea dogs home at the moment.
DB66

Not too keen on some new floats in this sector either Mickey. Too many of them stating stuff like "we have this field containing Xmmbl" etc etc etc. How many of them have any track record and some of them seem an age away from drilling. Even those relatively close to drilling, can they really fund it? No doubt some of them will over time do okay, however some will end up a disaster IMO.

I like dogs.

I agree gav, me too SWW. Camilla'a a cracker.

MS

Gav,

thanks for posting that article.

All red on my monitor today, except MKS, where I have a short position!

thats a whole different issue SWW!

classic case is COIL. used to be Silvermines, looking to invest in media companies, now is linked to Cambrian buying resources! funny thing is though i do fancy their chances...how sucked in am i to all this crap!

dust will settle soon and the quality will shine through (like gems - lol, had to add that!)