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

12 million buys reported after hours.......................

There go some more little sells grouped togther, out of the way.

proptrade,

Do man spreads cover NML please?


SWW,

yes it does look as though someone is accumulating.

gav/prop

thanks for that - havent read in detail as yet - make take part if the numbers add up

Those buys yesterday came through at 18.5p. Were they buys or sells.

Andy
NML are on the list they gave me.

grandadg90 they looked like buys, they were reported as buys, I suppose there is an outside chance they were buys.

True to reflect though, as some buys were recently being reported as sells, so the reverse can also be true.

The interesting point though is the consistent high volume of stock being traded one month before the results over now, a prolonged period of time.

You may interptret that too any way you want, but I interpret that as a good sign.

Other than that I am baking chicken wrapped in smokie bacon with a light covering of cheddar cheese today, with pasta in carbonara sauce and with broccolli, so things are looking up!

Ooooo.. sounds good to me SWW.

MS

Can you make sure the fatty bits are cut of the bacon for mine please SWW. You know I'm dogged by being overweight (but only in SEO!).

SD

sandrew64,

Many thanks!


Well SEY finally gave in to the general resource market selloff, - .50p now.

From todays traders thread: "RUMOUR OF THE DAY: STERLING ENERGY (word it is to sell its offshore Reed Bank licence in the Philippines to FORUM ENERGY in return for a 29 pct stake)"

Cant find the actual article online to read though.

It is reported in the Times as rumour of the day, nom link uin the online edition.

That seems to be about right though.

Forum are going to the City today to raise 10 as a pre cursur to listing on AIM.

I suspect it will be another free carry and 29%.

If so, I like their style.................

The Reed Bank will be fraught with financial dangers and it is only right that someone else should carry the risk for us imo.

All speculation, we will wait and see.

looks like yet another sensible deal by management (if true).

Has anyone ever heard of this Forum Energy before? Looking at the Reed Bank licence, we have 100% interest there, prospect of 600bcf of gas. Seismic supposed to be carried out Q1/05. If this Forum take a 29% interest then we will still hold 71%. If the rumour is correct, I dont think it will be a free carry like some of the previous deals that have been done, unless other partners come in.

Forum Energy: www.forumenergy.com


Forum Energy is an independent energy company listed on the NASD OTC Bulletin Board (FRUEF) and the Frankfurt and Munich Stock Exchanges (FE8).

The Company owns 66% of Forum Exploration Inc., a privately-held Philippine based energy company with a 100% sole participation in two blocks known as Service Contract 40 and Manila Bay / West Central Luzon .

In addition, the company is in the final stages of acquiring significant coal reserves.

***********************

News Item on 09 Feb 05:



FORUM ENERGY CORPORATION (NASDAQ OTCBB: FRUEF, Frankfurt/Munich: FE8) (Forum or The Company) reports the signing of a Heads of Agreement (HOA) for the purchase of an offshore petroleum license in the Philippines. The HOA is with a UK-based Oil & Gas Company and is subject to the execution of definitive agreements by the end of February 2005, and to the extent required, approval of regulatory authorities. Forum will provide updates as necessary.

In view of the potential acquisition of additional petroleum licenses in its current region of operations, Forum has decided not to pursue its previously announced acquisition in Tunisia and has therefore allowed the Memorandum of Understanding to expire at no cost to the company. Forum will instead remain focused on the development of its projects in the Philippines.

Forum also reports that it has granted a total of 10.6 million additional options under the Companys stock option plan.

*******************************

Updated news item on 01 Apr 05:

ORUM ENERGY CORPORATION (NASDAQ OTCBB: FRUEF, Frankfurt/Munich: FE8) ("Forum" or "The Company") is pleased to provide an update further to the company's announcement of February 9th 2005:

Significant progress has been made with regard to Forum's agreement with a major UK based Oil & Gas Company. Whilst still confidential at this stage, the company can advise the legal process is still progressing, and that the necessary due diligence and valuations are currently being effected.

The company is anticipating a successful conclusion to this agreement and expects to be in a position to release more detailed information in the near future.

****************************

I guess we now know that the mystery company is SEY (IMHO). LOL

Thanks for that StarFrog.

my reading is that forum are getting the field and in return sterling is aquiring a 29% stake in Forum. free carry works as long as they don't participate in a cash call at a company level or else diluted.

looks like smart diversification and a reduction of exploration exposure + a stake in what could be a larger prospect than just the Reed field.

still rumour...

Well reading it that way, wouldn't it be the case that we sell Forum the field, but only get a free carry in the field to the amount of 29% and not 29% of Forum itself? If that is the case then it looks like an okay deal considering the location of the field and the costs associated with development, drilling etc.

An RNS soon would be nice.

well...lets wait for facts! seems like a decent deal in any case.

by the way check out AVE...something afoot me thinks.

All,

This is the article, as posted by Martin on ADVFN.
=========================================================

April 19, 2005

Rumour of the day



Sterling Energy fell 1p to 17p on AIM, despite word that it is to sell its offshore Reed Bank licence in the Philippines to Forum Energy in return for a 29 per cent stake. Forum, listed on Nasdaq, will today start a UK investor roadshow hosted by Noble & Co to raise 10 million, as a precursor to joining AIM later this year.

Gav,

I read that as SEY having a 29% free carry, with no financial risk, in a highly prospective field, and that looks very nice to me!

Surely once this is official, we'll see blue?

Also note that Forum Energy are due to list on AIM later this year, maybe one to watch out for?