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

quid proptrade i think 20p would be good at the moment? -doesn't seem much positivity out their- remain long term hold though.

that is just it Lizard, it is a long term play. when the dust settles on these names in a few months/years it will be the best vertically structured firms that survive. SEY is from top to bottom a very well managed entity.

i know you know that but i needed something to say for post 4000...!

May have been said, but the Management have induicated they may well return money to the sharehoders when the Mauritanian Government loan is paid up in 2 years time.

Speculate as top how that may occur............

I think a share buy back.

works for me...

proptrade - you have post...............

SWW, trying to send a private email but it is not activated...send me your email on the old system. cheers

Sorry, I fiddled and did not put it back.

It's on now and also I hope I am sending you a conventional mail.

Do my eyes deceive me? We appear to have a tick up on the bid and a narrowing of the spread.
Sshhh we don't want to frighten it away.

i don't get it sey seems to only go down- what is this up business?.

Plenty of volume today, will it end.. up or down by the end of trading?

goal,

well we have recovered slightly from 1p down to .75p down, so I can only conclude we'll end in the red today.

Whole AIM resource market is a mess, with few exceptions, and it's beginning to look like the start of the dotcom bubble deflation all over again IMO.

With stories of hedge funds unwinding their positions, the whole AIM market is starting to look like a very risky place to have your funds, I'm contmeplating reducing some position sizes until this bottoms.

SEY may have been hit by the negative reaction to Regal's news this morning, as other oilers are down too, like JKX, we shall see.

Just found this, worth a read:

Sterling Aims to Drill For Philippines Gas in 2006
--------------------------------------------------------------------------------

Mail this story to a friend | Printer friendly version

MALAYSIA: May 18, 2005


KUALA LUMPUR- British oil exploration group Sterling Energy Plc hopes to drill by next year in the west Philippines' Sampaguita gas field after a seismic survey by early next month, a company official said on Tuesday.


"We're going to be shooting a large 3D (three-dimensional) seismic survey starting late May, early June, appraising an existing gas discovery in the Philippines," Andrew Grosse, exploration director for Sterling, told Reuters.
"If that proves successful, we hope to drill a well in 2006," he said in an interview on the sidelines of an industry conference in the Malaysian capital.

Sterling, one of the world's fastest-growing energy firms, with cash reserves of $500 million within five years of incorporation, plans to spend less than $15 million for the survey and drilling in the Philippines.

"The 3D seismic survey will cost about $4 million and a well, we anticipate, would cost about $10 million," Grosse said. "It would initially be one well. We'll see what the results are before we decide what to do next."

Sterling acquired the Sampaguita field in 2002 under a licence to explore an area known as Reed Bank, totalling 10,420 sq km (4,023 sq miles) and located west off Philippines' Palawan island.

The British energy firm has estimated Sampaguita's gas reserves as large enough for a standalone gas-to-liquid (GTL) development. If not, it said, the project could be tied to the Malampaya gas field, located 80 km off the coast of Palawan and operated by Shell.

Malampaya, which came onstream in 2002, has gas reserves of 3.4 trillion cubic feet (tcf).

Grosse said Sterling anticipated no problems in finding customers for Sampaguita's gas, given projected demand for power in the Philippines.

"The gas usage in the Philippines is much lower than any other country in Southeast Asia and there are enough power producers and potential industrial users waiting for new supply," he said.

"The Philippine government intends to cut back on oil-fuelled power stations, which are costing a lot of money to maintain, and also promote a cleaner environment with the use of gas."

The Philippines has total installed power generating capacity of 15,736 megawatts (MW), the government said in November, adding that another 8,650 MW was needed by 2014 to avert a supply crunch.



Story by Barani Krishnan


http://www.planetark.com/dailynewsstory.cfm/newsid/30844/story.htm

Posted on ADVFN as being from Killick's morning note:

We highlighted Regal Petroleum as a buy in early 2004 but recommended taking profits in October 2004 after an 85% rise given that it was always a higher risk trade. We recommended a switch into better balanced risk profiles with stocks like Premier Oil and Sterling Energy.

I've aways liked Killick.

great BB notes today. cheers guys.

A couple of snippet's from PanOcean's results released yesterday:

"The exploration model PanOcean has developed in Gabon has proven to be
very successful. To add a new opportunity for growth, the Company negotiated
the purchase of a 25.71% working interest in two new permits offshore Gabon,
Themis Marin and Iris Marin during the first quarter of 2005. These permits
lie along the fairway containing our Etame Marin Permit, and provide the
Company with an additional opportunity to chase similar exploration
opportunities. With this purchase, the Company committed to participate in
drilling an exploration well on the Iris Marin Permit mid-year."

"Themis Marin/Iris Marin

PanOcean has been actively evaluating new exploration opportunities in
Gabon, and subsequent to the end of the quarter, the Company acquired a 25.71%
working interest in two exploration blocks offshore Gabon near its Etame Marin
Permit. Both of the Themis and Iris permits are operated by Sterling Energy
plc (20.57%), with partners Petroleum Oil & Gas Corp. (Pty.) Ltd. of South
Africa (22.86%), Premier Oil plc (18.00%), and Ascent Resources plc (12.86%).
The Government of Gabon has an option to back in for 7.5% in both permits.
The Themis Marin and Iris Marin Exploration Production Sharing Contracts
("ESPCs") cover two shallow water exploration permits of 902 km2 and 607 km2
respectively. Themis Marin borders on the northern edge of the Company's Etame
Marin permit and Iris Marin is situated along the Gabon coast approximately
110 km northwest of the main Etame field. 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."



http://www.newswire.ca/en/releases/archive/May2005/16/c9555.html

They seem positive that these permits will help their growth, which of course if successful will be good for us. Not been the best of days in the E&P sector, RPT getting hit today for a loss of 150 on the back of it's previous losses is painful to watch. Time for lunch I think.

Looks like Sterling need a new Broker....................

EVO have lost it permanently imo.

Below taken in bits from elsewhere.

EVO have come unstuck too as they bought 11% of Regal at 3.90 !

EVO I read were hit or in trouble with a Commerzbank stake too.........

Does that mean the nice bonus they took recently as a board for the sale of IPO shares has to be given back?

They will recover but their credibility is now less than zero, again imo.

regal reality.

shocking stuff..is that EVO position still current?

I can not confirm it, but that is what has been said on the other channel.

ok, i was looking at holdings and didn't see it but it certainlt explains the EVO price today. cheers SWW.

AMEC helping me out today. may have legs.