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

Results should be out early May, 7th last year, so that may be the next news we get.

cheers gavdfc.
hopefully something substantial to report then.

Would be nice. Of course, a drilling update always goes down well! Just heard on CNBC that the Saudi's plan to pump more oil to help ease prices. Yeah right, heard that one before!

Gav,

Yes I would imagine we will test the 20p resistance as results approach.

I feel the results will surprise to the upside, and we will see some T trades once we are within range.

Sorry - lost contact as my youngest downloaded a load of malware.

Back in now.

I was trying to write about Shell going for Woodside according to UBS and Bloomberg.

http://www.bloomberg.com/apps/news?pid=10000102&sid=ayIZ9mDK2VsU&refer=uk

The point is this will be Shell's second attempt if that is a correct report.

Obviously they are after replenishing their reserves, as predicted at the time of the Shell scandal. The point being if they are successful with Woodside, and quite honestly, I doubt they will be, then Woodside holds 10% of Hardman Resources, and share Mauritanian Licences for the bigger fields found so far.

In any event, I now predict that Hardman, BG and Sterling will be swiped by Shell, sooner rather than later, regardless of whether they succeed with their alleged approach to Woodside.

Some thoughts for you to think about.

Andy, heres's hoping on both counts! Evo and Oriel were estimating PBT for 2004E of between 3.7m and 4.2m. The results in May will be very interesting to see. They have 2005E of 14.3m and 17.1m.

SWW, thanks for the link, interesting stuff. We know that Shell have a bit of reserves problems over the last year or so, so going for a takeover to shore up their reserves makes sense. I definitely feel that consolidation in the sector is inevitable. Who, how much and when will be the interesting part!

Almost all oil stocks on my watchlist are up, many above 5%, but Sterling Energy! Why is this one sleep?
How long more can it rest?

Dunno but SHEL has had 137 millionn buys today.................

Oil producers in general are in favour in reaction to the latest crude prices. But exploration shells are pretty stagnant. Sterling falls somewhat in between I think, although long-term very nicely positioned to take advantage of low capital expansion of its production activities into a strong price for the foreseeable future. Patience required. 1% a day or 250% in one day comes to the same overall profit.

wise words grasshopper...

sorry, please take that in jest..i just just envisage "wise words..patience required, 1% a day or 250% in a year..patience my son"

rgds
PT

PT - no apology required. Not familiar with grasshopper concept, but know fleas well. Boy, can they jump - at least 250%!

woof, woof

:D

SD

it was more a reference to th egreat TV show Kung Fu - taking about wize words and proverbs!

flea works just as well in a funny way!

I think on reflection grasshopper works better - not sure about "Wise words flea". Seems to lack a certain something.

prop we are all far too young to remember that program.............

Ah-so!

Ah-so's to you too matey!

And when all these sharp things were flying towards him he was heard to say "What Kung Fu Dat".

Best thread on the BB.

MS

my vote too...

ok, i will come out...i was watching David Carradine on Jonathan Ross and it brought it all back....i was a mere baby in the early 70's!

This just out, worth a post amidst all the Hong Kong Phooey talk!

Hardman Resources Limited
08 April 2005

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 8 April 2005

CONTACT: Simon Potter

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: HARDMAN INITIATES PROCEEDINGS

Hardman Resources Limited announces that its wholly owned subsidiary, Hardman
Chinguetti Production Pty Ltd (together Hardman), today commenced proceedings in
the Supreme Court of Western Australia with the aim of establishing Hardman's
entitlement to cost recovery under the relevant Area B production sharing
contract.

The issue involves the meaning according to law of the Joint Operating Agreement
and Farmin Agreement for Area B. It has been the subject of considerable
discussion and correspondence between Hardman and Woodside Mauritania Pty Ltd
(Woodside), the Operator of the Area B Joint Venture, since late 2003. Hardman
and Woodside have not been able to reach an agreed outcome despite both parties
proposing different terms for resolution by arbitration.

Hardman's position is that the entitlement of all joint venture parties to
recover costs should be calculated according to the participating interest share
in the Joint Venture. Woodside asserts that it should be entitled to recover
100% of its share of the farmin costs for cost recovery purposes.

Other Area B joint venture parties have indicated support for Hardman's
position. Hardman also has an opinion from a Queens Counsel which supports its
position.

Should the Court make the declarations sought, Hardman would receive
approximately US$18 million in additional cost recovery and reimbursement
payments than would otherwise apply under the Woodside position.

The Supreme Court proceedings will not impact upon the development of the
Chinguetti field which remains on schedule to produce first oil in the first
quarter of 2006.

Hardman's Chief Executive Officer and Managing Director, Simon Potter,
commented:-

'This action by Hardman has been taken reluctantly to break a deadlock in the
respective positions of Hardman and Woodside. The parties have essentially
agreed to disagree and it is necessary to obtain an independent determination of
the issues involved.

This is a one-off situation and will not impact upon the good working
relationship Hardman has enjoyed and will continue to enjoy with Woodside in
several joint ventures in Mauritania.'



SIMON POTTER
CHIEF EXECUTIVE OFFICER & MANAGING DIRECTOR
HARDMAN RESOURCES LIMITED


Enquiries:
Simon Potter Hardman Resources +61 8 9261 7600
Jim Kelly Third Person Communications +61 412 549 083
Patrick Handley
James Crampton Brunswick Group +44 207 396 3536





This information is provided by RNS
The company news service from the London Stock Exchange

indeed. looks like minimal impact....anyone wlse have any thoughts?

for those in need of more Kung Fuey....

http://www.tvtome.com/tvtome/servlet/ShowMainServlet/showid-2162/Kung_Fu/

good site for lots of other shows and movies as well.

rgds
PT