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

Evo have NAV/share currently at 20p. This is backed up by existing discoveries in Gulf of Mexico. Mauritania has risked potential to add more than 5p to NAV according to them. The 20p target doesn't include other areas such as Guinea Bissau, Gabon, Cameroon, Western Sahara etc.

I feel beter now..............

yup, always like a base number that doesn't include any icing.

Should get a drilling update tomorrow morning from HNR. Looking forward to each Tuesday now. Early start all!

not alot of news from HNR...

Not a lot of news, but they do seem to be working pretty fast. At least they're keeping everyone up to date with a weekly RNS. At least we have results very soon to feast on.

proptrade,

HNR have released an RNS, I suggest you take a peek!

thx for the heads up...reads well doesn't it!

Could be fillyaboots time, boys!

A quid by Christmas!!

proptrade,

Well they certainly sound confident!


Hilary,

LOL! I'll take 50p!


All,

Any comments on the two large trades at 14:44?

I don't think they were necessarily sells, but am open to convincing!

Hilary..i like your optimism but i do agree with my old mate Andy that at 50p i would be almost out.

the 2.5 million shares may have been sales but equally could have been a put rhough for some reason (transferring between accounts) or there could be another side to the trade printing later or tomorrow. nothing to be worried about.

Surely if they were sales then the price would have dropped? Even if they were sales it doesn't change my opinion on SEY.

firstly they may have been sales but the MM could have been short, it could have been a partial put through as i mentioned above or the MM was taking a view and has them on his books.

the fact is that even if some punter was tipping out of the stock because of boredem, free up capital or simply other ideas to play, the likeleyhood is that the same "hot money" would have exited at 17p to nick a turn.

all in all, the fact that the price is steady with a couple of chunky sales around is only good news in my books. we can speculate all day but as we all feel on this thread, this name is a solid stock and we should see a high 20's or maybe 50p trade out of this one....if we are patient.

sorry about the long spiel, i just had a few minutes to spare!

keep up the posts chaps

rgds
proptrade

Good post Prop. Patience is the key here. Hot money may come and go, some looking for a quick profit which is fair enough, but that's not for me. IMO the long term holders will be the biggest gainers here.

Mauritania is just starting to kick off with an aggressive drilling program which is of little or no cost to us. In the Gulf of Mexico, looking to double up production possibly, gas and oil prices reaching new highs. 2005E figures look excellent to me and the results to be released soon will no doubt also be good. Lots of potential here and lots to get excited about, all IMO of course.

of course IMO..i do love that saying.

i also await the results in anticipation. It is this free carry upside that is so damn attractive. do you know the date of the results?

Asked them the date and was told either 24th or 25th. Since the 25th is Saturday would assume we get them tomorrow. Would expect a write up on Oil Barrel on Monday if results out tomorrow. Also good chance of an update in Shares IC etc. IMO of course! lol

Calm down boys. There's been a largish background seller holding this back for a few weeks now.

i am not sure about that...i think that if there is an overhang then when cleared these will spring up when cleared. who knows how large the block is they are selling...maybe mm's will find the other side with the prospective good news on the horizon.

This share always goes down when the price of oil goes up.

That is the pattern.

No panics here, I amy have a few more if it drop another 1/4p