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

**NEWBIE ALERT**
could you explain what an overhang is and the seller situation, cant understand why if someone wants to sell... bid falls and after he sells (MM's will hike the SP??)

overhang is a line of stock that a large investor is selling that is significantly larger than normal trade in the stock. it tends to be more than a few days volume and once started will keep pressure on the share price. when the order is almost complete, the MM will tend to take the balance on his own book and sit back and wait for the market to realise the seller is out the way. The price then moves up and the MM feeds his stock to buyers. simple!

overhangs tend to come from placements, lockin periods ending (ie managers can't sell for 12 months after an IPO and then they are free to do so creating an overhang), or just institutional shareholders offloading their large positions. others reasons as well...

finally, any larger sell order in the market will drive the price lower until it finds a "clearing price" - where buyers match the selling. once the block is out the way the buyers may chase the price higher.

hope that helps. also check out http://www.investopedia.com/ for other general insights. (it is a US site but most terms translate)...

Cheers Proptrade... thanx for the info

I put a dummy sell through with Barclays earlier this morning. Bid 15.5, so in my view the 4 million was a sell. Latest online bid is now down to 15.3.

great. sellers out the way then.when these move they will fly through 17.

Prop
As a member of team SEY lurkers I would appreciate a quick tutorial on the heavy after-hours trading today
Can you oblige?

Yaeh prop, tell us what you think, and answer my question too from yesterday, did you buy 1/2 mil???

By the way the after hours look very promising..........

Sunray41, stop lurking and contribute more!

to answer your question, if you are referring to the 6 odd million that went through they are most likely sells which is why the MM who had the order was able to sell loads to buyers without the price moving too much. because of the size he doesn't have to print the order until complete which is why it is after mkt. once these sellers are done, these will take off. i expect the MM's to hold on to a few for a few pence turn.

SWW, i was not the 1/2 mill, i just added with 150/-. will look to take on more soon.

i think these have played the consolidation game long enough and the placement stock is now finding its way back to the mkt. all good news and the 17 ceiling should break relatively soon.

quid by xmas 200?

rgds
PT

I knew that really.

Quiet today, not much buying or selling of anything.

Has everyone turned up this morning?

I have a good feeling about all this at the moment.

SWW,

Morning, nice little 0.25p tick up!

I particularly like the fact taht punters are paying close to 16...

SWW, good feeling all round.

Morning all, a 1m T trade at 16 just gone through.

Common MM's...show us the money ;)

15.5 bid

15.50 bid with three market makers.

Some nice trades going through, shouldn't be too long before the next tick up

pth

pth- more upbeat with sey than goo at the moment- what do you think on goo situation?- i think more long term play.

lizard

SEY is already an expanding producer with exploration thrown in. GOO has a long way to go before it achieves anything like the same level and is more of a speculative play at the moment. there are plenty of resource companies around who on 'paper' have great prospects, but the object of achieving profitability evades many. GOO will probably bounce up and down for some time to come, before we see any significant return on our investment based on fundamentals. However, like many of these small companies, a good bit of news will probably drive the SP up. Which of course is where we come in, stay in for the real long term or take a quick profit?

SEY we already know will return short term profits, but seems such a well run outfit that staying in will definately produce a greater return on capital invested.

pth

Just found this:

Canadian-UK energy firm eyes $27M for exploration
Posted: 2:33 AM | Jun. 07, 2005

Abigail L. Ho
Inquirer News Service

printable version email a story write the editor feedback




FORUM Energy PLC, the newly formed joint venture between Canada's Forum Energy Corp. and the United Kingdom's Sterling Energy PLC, is considering raising another $27 million in additional funds to develop oil, gas and coal resources in the Philippines, according to a statement posted on the Forum Energy Corp. website.

The new company's plan to list shares on the Alternative Investment Market of the London Stock Exchange can raise the amount, Forum Energy Corp. president and chief executive Larry Youell said in the statement.



The joint venture has already received pre-listing commitments of $6.2 million.

The recent approval of the joint venture by shareholders of Forum Energy Corp. effectively transferred the Canadian firm's 66.67-percent interest in Philippine company Forum Energy Inc. to Forum Energy PLC.

Forum Energy Inc. holds Service Contract 40, an oil and gas license covering onshore and offshore areas in the northern part of Cebu province, and coal operating contracts in central and southern Cebu.

Sterling Energy's Geophysical Survey and Exploration Contract (GSEC) 101, for oil and gas exploration over offshore northwest Palawan Island, in the South China Sea, has also been transferred to the new company.

GSEC 101 contains the Sampaguita gas find, which a recent assessment by PGS Reservoir Consultants (UK) Ltd. says has potential gas reserves of 2.3 trillion cubic feet.

Seven prospects and three discoveries now under Forum Energy PLC's licenses have total potential "unrisked" reserves of about 900 million barrels of oil and 5,500 billion cubic feet (BCF) of gas.

On a "risked" basis, potential reserves from the three discoveries amount to 2,330 BCF of gas, while those from prospects within the licenses total 93 million barrels of oil and 320 BCF of gas. Proven and probable coal reserves are placed at 4.9 million tons.

"This transaction will deliver accelerated growth and value to both the company and our shareholders," Youell said. "Not only will the FEI assets receive fast-track development as a result of the considerable investment from London-based institutional investors, but the company will also additionally benefit from exposure to the potentially world-class GSEC 101 asset."

Forum Energy PLC "has already received commitments for approximately $6.2 million and an aggressive work program in the Philippines is underway commencing with a seismic survey of the Central Tanon prospect offshore Service Contract 40,'' he added. With INQ7.net


http://money.inq7.net/topstories/view_topstories.php?yyyy=2005&mon=06&dd=07&file=3

Gav,

Cheers, good spot, and an interesting read.

like to see SEY offer a discount to their shareholders when Forum floats, I would imagine they would have no problems with the float.