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

The price of oil affects most oil stocks, if one stays put when the price is falling them it is doing well, swimming against the current.

We have now had 3 days of dropping oil price and rises on each day, and now no movement.

I call that a good performance.

Of course if the poo falls tomorrow and the next day, I would expect Sterling to drop off too, it can't go on like this without something to gee it up a bit.

Mustang Island result if positive would be nice, I thought that was due 2 weeks ago.

No news is not a good sign.

Below from Reports and aAccounts 2004

The two active areas for Sterling Energy in 2005
are Mustang Island and Matagorda Island areas
of Texas State waters. These are areas in which
Sterling has excellent records, strong operations,
engineering and geosciences expertise. The targeted
reservoirs in these areas are lower Miocene and
Oligocene in age. These are in the most prolific
trends along the Texas gulf coast with typical
fields ranging from 5 to 200+ bcfge.
These fields have long (10 to 20 year) well
lives which are much longer than the majority
of the younger Gulf of Mexico producers.
Contribution from these reservoirs should assist
in balancing Sterlings production base with steady
long life reserves.
Sterling has identified extensive undeveloped
reserve potential within its existing producing assets,
especially in both Mustang and Matagorda Islands.
This drilling programme is under way. The Mustang
Island 749 GU No. 2 (Sterling: 100% working interest)
is expected to reach target in mid-May. This well
targets 5+ bcfge gross, proven undeveloped reserves
in the Oligocene, Cib Haz sands at an approximate
depth of 11,500, with upside potential of 15 bcfe
gross reserves.
Sterling will shortly begin a work-over operation on
the Eugene Island 268 No. 1 well. This re-completion
is targeting 3+ bcfge (gross) of proven behind pipe
reserves in two sands at an approximate depth
of 4,800. Sterling has a 60% WI in this well.

Hardman Oil Barrel article.

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1118282400&id=0&feed=oilbarrel_en&body=0&type=


This bit applies to Sterling.

The latest drilling programme included five new oil producers, 5 water injectors to maintain reservoir pressure, and 1 gas injection well drilled on the Banda discovery for disposal of the Chinguetti associated gas. Drilling results were positive, meeting or exceeding expectations. Proven and probable reserves (2p) have been put at 123 million barrels. But Hardman is now saying the completion of the drilling phase removes one significant element of the forward risk project and confirms that the volume of oil-in-place is at least as expected. On the assumption that early well performance remains in line with forecasts, Hardman anticipates that this will result in an increase in proven reserves when it carries out its initial reserves redetermination. The project is now over 71 per cent complete and the target date for first oil from Chinguetti remains first quarter 2006. With the Tevet-1 discovery made in October 2004 lying within tie-back distance of Chinguetti, production should be at least 75,000 barrels a day. Hardman has over 19 per cent of this so is less than a year away from becoming a substantial producer.

Of course with Sterlings approximate 4% plus 8%, that also applies to them.

.

☺

men of few words...

rock on.

LED ZEP - now that's agood name.

A pleasure...........

Afternoon all,

Cheers for the HNR links SWW and Andy. As to the drilling progress on Mustang Island 749. From the results it stated that they hoped to hit TD by mid May, so assuming they hit the target by then I would expect them to be running tests on the well. Bearing in mind this is only 9th June, Im not too concerned that we havent had any news just yet. Of course, if there was a delay of any sort in hitting TD then I would not expect results just yet. Anyway I fired an email off asking for clarification if possible and if I get an answer then I'll post it here. Basically Im not too concerned, just my tuppence worth.

I take it everyone noticed the free weeks L2 offer and terminal here? Great the way ADVFN offer 1 day and Money AM kick their ar$e by offering 1 week!

Noticed the 2 interesting trades after the close for 1m and 1.2m, both at 16p delayed 1 hour from 15.38 and 15.40.

Hectorp over the other side says it's a classic tree shake.

It just looks dishonest to me.

How they took the price down, I dont know.

Never mind, day to day dont matter too much.

Could well be SWW, but as you say, day to day doesnt really matter for those here for the long haul.

I see today that we have the first of the seasons storms looking to hit the GoM this weekend. According to cnbc, some platforms have been shut down, dont know which ones. From what I've read and heard on cnbc, storm forecasts are expected to be heavier this year than last. Look at the affect of the first storm of the season on oil prices. I wonder what the oil price will be come the end of the season? Significantly higher I think.

Found this:

Tropical Storm Arlene supports energy futures
Thursday, June 9, 2005 6:25:52 PM
http://www.afxpress.com


DALLAS (AFX) -- Traders bid up energy futures further late Thursday on the New York Mercantile Exchange, as Tropical Storm Arlene gathered strength in the Atlantic and moved nearer to the Gulf of Mexico. According to news reports, the storm is expected to make it to the Gulf this weekend. July crude rose 3.3%, or $1.71, to $54.25 a barrel. July gasoline added 3.4%, or 5.05 cents, to $1.548 a gallon, and July heating oil rallied 4.5%, or 7.02 cents, to $1.623 a gallon

This story was supplied by MarketWatch. For further information see www.marketwatch.com

For more information and to contact AFX: www.afxnews.com and www.afxpress.com


http://www.usatoday.com/travel/news/2005-06-09-Arlene_x.htm

Thanks for the links Gavin.

fwiw Sterling own property just below Huston and then around the gulf in an anticlockwise direction.

As such they should not really get much other than a bad dose of wind when others may be moving out for a few days.(Source Sterling website).

Of course any disruption to others helps Sterling along the way if they can produce when others can not.

Now, Mustang Island.................

You are right of course.

Hi SWW,

If we look at SEY's operations from the website as you point out, we can see Eugene Island being the farthest east of all their operations in the GoM. And as you say, they then move in a counter clockwise movement as. Link here for those interested:

http://www.sterlingenergyplc.com/operations/region.asp?rid=1

With regards to hurricane "Arlene", this link seems to show the direction that it is projected to move in. If you move your cursor over the projected path on this link, it shows the projected path of this storm, which seems to miss Eugene Island, the furthest east of our operations.

http://www.usatoday.com/weather/hurricane/2005/a1.htm

So, hopefully in this instance we may just get a dose of wind as you point out. Nothing that requires us to shut down any operations as the storm should pass us by in this case. What is of note here though is the reaction of the crude/gasoline/heating oil markets to this first storm. They all moved up, so as I pointed out before, what happens in these markets if we get a series of storms in the GoM as predicted by others?

very informative chaps, thx.

so when do we hear about Mustang?

Not had a reply to my email as of yet but will post when and if I do.

4 MILLION SHARES ROLLED

Well someone's keen anyway.

With 8million in buys withinna little of each other I am surprised this dropped.

Could be a pre cursor to Musatang, then again maybe not.

Interesting any way.

Have a good weekend all.

Bye

SWW, the 8m looks like a rollover of 4m to me, but does show up in the trades column as 2 separate buys of 4m each. Hope you have a good weekend also.

Thank you.

I;'m not cooking today as I have had quite a busy week in the kitchen, well actually I suppose I am, except I got some pizza out of the box and dalek bread out of the packet.

I have a nice Penfolds Chardonnay to guzzle this evenig, so all looks very mellow.................

Fantastic Captains Pie yesterday, Yo8 do need a good spud. King Edwards do it for me, but you do need to catch them before they start to flour whuikle cooking. The mix of fish was cod, smoked haddock, salmon and prawns all in a cheddar sauce. Loads of it and the plates were cleaned.

Roast the day before,a nd I forget what we had earlier, but I havebeen cooking mater pieces all week.

Right, I am off for a quick punt around elsewhere, good to see ee on the sia thread. I think he will look rather than write there, just a feelingg, it's what he knows perhaps.

great weekend. I am leaving starving now thanks to SWW talking about food. again!