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

My oils watchlist only shows BP and CHP up, the rest slightly down or unchanged. Little volume here today, perhaps everyone sitting on their hands and waiting for the 9th.

BUR is really taking a dive for no apparent reason imo.

Almost but not quite tempted @ 4.80p...........

Looking at my watchlist, it seems that those being hit hardest are some of the more speculative oils out there. I'm sure you can guess which ones they are. Perhaps some froth coming out of the sector, which I guess would be no bad thing as the good companies will still be sorted from the "highly spec" ones.

Bur looks like it may be near a recent support at 480. If DNX falls some more then I might have some.

Fair.........

I think you may be right about the shakedown.

About time too imo.

The thing about resource stocks, especially the junior oil/mining ones is that a few really bad apples can give the sector a bad reputation. How many times will we hear of companies "hoping to drill something in perhaps a few years" or "looking to acquire assets" but giving no timescale. Thats all fine and well if these things are only a small part of a companies portfolio of assets, but when thats all they have or come to market with then they seem to get ramped up price wise and fall back just as fast or even faster. Im sure lots of people got badly burned in these stocks. Funny how PET springs to mind here!

Yep PET is a real bu*mer.

I've watch a few on bb's who were taken in.

I am highly suspicious of CSH.

Have youn noticed, they drill holes find oil and start producing, never a word about flow rates and possible reserves.

Distinctly odd.....................

Do you know any thing different?

Not really followed CSH, but the chart speaks volumes, as does the chart for MRP and COP. Come to market, shoot up and the fall sharply.

It does seem very strange that they find oil and can extract it but give no indication of flow rates. Unless they know but are not informing the market. Wouldnt inspire confidence in me to keep holding if I held or buy.

White Nile is also another fiasco.

White Nile, yes, just saw the post on TMF.

A lot of people will loose a lot of money and they can't do a thing about it.

True SWW. However, quite a few will make money on it as it was heavily shorted from quite a few on TMF on the run up it had before suspension.

would you guys care to get a room!!!!!!

when i logged on this afternoon i saw 10 posts and thought something was going on and hoped that SEY wasn't joining the downtrend...

a bit of realism returning to the mkt. not a bad thing.

prop - I think that we have discovered it as a safe place top talk without being overheard................

Sorry about going off topic but, ah well, you know............

lol

I enjoyed it SWW & Gav.

MS

Off topic??? On this thread, impossible! Lol! Notice that Oil fell to just under $50 and has now moved back up to $51. And the Dow is tanking down again, down 110.

fasten your seatbelts, we're in for a bumpy ride - tomorrow.

Some info from Hardman's end of Q1 RNS today:

Chinguetti Field Development: The development project remains well on
track for first oil in Q1 2006. Total project progress is 66% and progress
on the FPSO Berge Helene has reached 75% after the successful completion of
dry dock activities and the installation of key process modules. During the
quarter and in the subsequent period to the date of this report nine of the
ten new development wells were drilled. Sand control completions have been
installed on four wells and the completion program for the rest of the wells
is continuing.

Overall drilling results have been positive, meeting or exceeding expectations
for both reservoir quality and hydrocarbon column with a likely increase in
proved reserves. Five sidetracks were drilled for various reasons and all
encountered significantly improved reservoir but the additional drilling
effort has placed upward pressure on the project budget of US$625 million.
Final project cost is expected to increase but remain within a 10% range of
uncertainty for projects like this. Hardman's existing financial arrangements
were planned on, and have the capacity to cover, this increased level of
project cost. The additional drilling will not have an impact on the overall
schedule to first oil. This is more dependent on the arrival of the FPSO and
given the significant level of progress confidence is increasing that the
production startup will occur earlier in Q1 2006.

Chinguetti Financing: Hardman announced on 27 January 2005 that it had
entered into an agreement with the Australia and New Zealand Banking Group
Limited ('ANZ') which established a US$100 million project loan facility.
The funds will be applied to cover approximately 80% of Hardman's share of
the development costs of the Chinguetti oilfield. The facility is fully
underwritten by ANZ but will be syndicated to a number of banks.

Tiof Appraisal: The Tiof-6 well was drilled and tested during the
quarter. The well encountered oil over a gross interval of 123 metres in
several good quality sands of varying thickness and during a flow test in
February 2005 achieved a maximum flow rate of approximately 12,400 barrels
of oil plus 11 million standard cubic feet of gas per day with a stable rate
of 9,150 barrels of oil per day during the 72 hour main flow period. It is
currently estimated Tiof has in excess of 1 billion barrels of oil in place
and the current focus is the assessment of development options to realise
recoverable reserves.

Mauritania Exploration: Seismic surveys were completed in Block 6
(3,096 square kilometres) and Block 7 (1,536 square kilometres) during the
quarter. Electromagnetic surveys were undertaken in a number of PSCs to
determine the effectiveness and potential application of this method. The
results of these surveys and others acquired in 2004 will be used to
determine the 2005 drilling program.

of approximately 12,400 barrels
of oil plus 11 million standard cubic feet of gas per day with a stable rate
of 9,150 barrels of oil per day during the 72 hour main flow period

Excellent results........................

Well pleased with them. The big question is how much of this can be extracted:

"It is
currently estimated Tiof has in excess of 1 billion barrels of oil in place
and the current focus is the assessment of development options to realise
recoverable reserves."

my portfolio is not looking to clever at the moment

great statement..1 bill barrels at 50 bucks a pop. now wheres my calculator....

Ah if only it was that simple! 1bn at $50 would put a smile on many faces no doubt! As to how much can be actually be recovered, anyone got any estimates?