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

Gav,

well spotted !

Cheers Andy. One good thing about the 2 licences in the Gabon are the costs we are liable for. We hold a 20.57% interest in both the Themis and Iris licences, and for this we only have to pay 2.57% of the drilling costs for up to 4 wells.

I especially like this part from the Pan Ocean statement:

"Both the Themis and Iris concessions are surrounded by
proven oilfields, and are close to pipelines and production infrastructure."

:-))

It would seem that the statement was picked up on quite a few websites and newswires, 5 that I could find tonight. Could be a decent bit of interest in this perhaps?

http://biz.yahoo.com/prnews/050420/to227.html?.v=3

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/04-20-2005/0003439599&EDATE=

http://press.arrivenet.com/mrg/article.php/624049.html

http://www.mysan.de/article83782.html

Goodness me.

Sterling are very busy on the run up to the results.

Good work gav.

Newcastle did well tonight, they only lost by one goal.

Better and better!

SWW,

When you consider they EQUALISED in the 90th minute, I thought the result was poor!


Gav,

Well the news can't do SEY any harm in the run up to results, we have lacked newsflow in the past, this is a welcome change IMO.

I particularly liked this paragraph,

--------------

"Both the Themis and Iris concessions are surrounded by proven oilfields, and are close to pipelines and production infrastructure. The principal target on both Iris and Themis blocks is the Gamba Sandstone reservoir, similar to that found in Etame to the south."

--------------

Glad I topped up recently.

Also in the same neck of the woods is FAO, both off-shire and on-shore in Gabon with further options for Congo and Chad, up at 14p from re-listing price of 7.8p in Feb, worth more than a glance from all you W. African oil lovers.

SD

Morning all,

Thought we may have been in for a rough day today after the carnage last night in the US, but UK markets seem to be holding up well today, at least so far!

Andy, it seems we both like the same part of the statement from last night, and rightly so! The sooner we can get on with drilling there the better. My ubnderstanding was that a well was planned for Iris in 4Q04 and the first at Themin in 1Q05. Hopefully now that this deal has been done things will start moving here. Last years results were released 7/5 so we should get them soon. Am trying to see if they have an exact date and will post here if I find out.

Stockdog, thanks for the heads up on FAO. Will keep a watch on that one.

LOADS OF INFO, CHEERS.

as a gooner, a reasonable result last night only be become exponentially more enjoyable when i watched scholes being sent off and Fergie losing his rag.

still smiling

rgds
PT

great joke...sorry to all at moneyam but this was the funniest i have heard in ages...

A pirate walked into a bar and the bartender said, "Hey, I haven't seen you in a while. What happened? You look terrible".

"What do you mean?" said the pirate, "I feel fine"

"What about the wooden leg? You didn't have that before."

"Well, we were in a battle and I got hit with a cannon ball, but I'm fine now".

"Well, ok, but what about that hook? What happened to your hand?"

"We were in another battle. I boarded a ship and got into a sword fight. My hand was cut off. I got fitted with a hook. I'm fine, really".

"What about that eye patch?"

"Oh, one day we were at sea and a flock of birds flew over. I looked up and one of them shit in my eye".

"You're kidding," said the bartender, "you couldn't lose an eye just from some bird doo-doo?"

"It was my first day with the hook"

Prop,

ROFLMAO!


GAv,

Yes "close to pipeleines and production infrastructure" was a nice add on.

is that roll on floor laugh my arse off?

yes, great joke!


ps

The 'L' = "Laughing"

Lol! Good joke Prop. Looks as if your mob may pip the Mancs to 2nd place at this rate.

Andy,

Surrounded by proven oil fields - nice.
Close to pipeleines and production infrastructure - nice.

Hopefully this area will be of great profitability to SEY and others working in that area.

The Pan Ocean news out on another Canadian newswire.
CNW Telbec.


http://www.cnw.ca/fr/releases/archive/April2005/20/c7826.html

Quiet here today!

Nice little tick up, let's hope we can hold until the bell.

Andy, seems to be a bit of a quiet day for me anyway, apart from SIA dropping this afternoon!

very quiet but i will take a quarter point rise every day!

Wht is it about SEY that can't get started with all the positive vibes about the management and risk/capital free deals they strike one after the other? Is there something we can't see for looking?

SD

Sterling Energy PLC
25 April 2005



25 APRIL 2005



STERLING ENERGY PLC

SALE OF PHILIPPINES GAS ASSETS TO JOINT VENTURE


Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration
and production company, today announces the sale of its GSEC 101 license to
Forum Energy Plc ('Forum Energy'), in return for an equity interest of 23.0% in
Forum Energy.


Forum Energy is a joint venture company specially created by Sterling Energy and
Forum Energy Corporation, a NASD (OTCBB) listed energy group, to amalgamate and
manage the energy assets of both companies in the Philippines region. This is
subject to approval by the shareholders of FEC of which over 80% have already
undertaken to vote in favour at the EGM to be held on 18 May 2005. Mr Harry
Wilson, Chief Executive of Sterling Energy and Mr Graeme Thomson, Finance
Director of Sterling Energy, have been appointed non-executive directors of
Forum Energy.


The GSEC 101 license was acquired by Sterling Energy in 2002 and lies offshore
Palawan in the South China Sea, Philippines, an area known as Reed Bank. The
license contains the Sampaguita gas discovery which has flowed gas during test
and over which it is planned to shoot a seismic survey shortly. In addition,
Forum Energy will have interests in oil & gas assets in the Northern Cebu Island
and coal operating contracts in Central and South Cebu Island. A pre-IPO
funding of 3.35 million has also been conditionally completed valuing the
Company at 17.4 million. On this basis, Sterling's equity holding in Forum
will be valued at 4 million.


It is intended that Forum Energy will seek admission to the Alternative
Investment Market, operated by the London Stock Exchange, later in 2005.


Following the disposal, Sterling Energy will be focused on its core areas, the
Gulf of Mexico and Africa.


Harry Wilson, Chief Executive of Sterling Energy Plc, said:


'The disposal of Reed Bank will allow Sterling to focus its resources on its
core activities in the Gulf of Mexico and Africa, while retaining exposure to
the upside potential of a more balanced Philippine energy asset portfolio which
has a great deal of upside.'


'Sterling's exploration effort is concentrated on its African assets where an
active drilling programme is ongoing. In particular, it has interests in wells
in Mauritania, Gabon and Guinea Bissau at virtually no cost to itself, and a
range of other exploration/appraisal opportunities. Sterling is also intent on
substantially increasing production and cashflow in the Gulf of Mexico.'