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

Everything is moving along nicely.

Some good buys this morning and a little rise in price.


Hardman Resources Limited
28 September 2004

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 28 September 2004

CONTACT: Ted Ellyard (08 9321 6881)

RE: MAURITANIA DRILLING PROGRAMME
WEEKLY PROGRESS REPORT

Hardman Resources Ltd ('Hardman') provides the following weekly progress report
on the Mauritania offshore drilling programme:

Tevet-1 Exploration Well

Progress and Current Status:
Since the last report (21 September 2004) the tophole section was drilled from
633 metres to 1,380 metres and the 13 3/8 inch casing was run and cemented. The
well was temporarily suspended, as planned, on 22 September. The drilling rig
West Navigator was used to drill the tophole section of the well.

Note: The bottom hole, comprising the target interval, will be drilled by the
Stena Tay, the second rig working on the Mauritania programme, and is expected
to commence following the suspension of Chinguetti-8 (see below).

Well Location:
The Tevet Prospect is located approximately 80 kilometres southwest of
Nouakchott, the Mauritanian capital, 10 kilometres northeast of the Chinguetti
Field and 10 kilometres west of the Banda oil and gas discovery. Water depth is
489 metres and the planned total depth of the well is approximately 2,690
meters.

Well Details:
The Tevet-1 exploration well is testing a structural/stratigraphic trap in sands
of the same Miocene channel fairway that comprise the reservoir at Chinguetti
and Banda. This main target is at approximately 2,515 metres depth.


Tiof-4 Appraisal Well

Progress and Current Status:
The Tiof-4 appraisal well was spudded on 23 September 2004 and the tophole
section was drilled and the 13 3/8 inch casing was run and cemented at 2,108
metres. The well was temporarily suspended, as planned, on 26 September.
The drilling rig West Navigator was used to drill the tophole section of the
well. The bottom hole, comprising the target interval, will be drilled at a
later date by the Stena Tay, the second rig working on the Mauritania programme.

Well Location:
The Tiof discovery is located approximately 90 kilometres west of Nouakchott,
the Mauritanian capital, and 25 kilometres north of the Chinguetti Field. The
Tiof-4 well is located approximately 2.5 kilometres southwest of the discovery
well, Tiof-1. Water depth is 1,119 metres and the planned total depth of the
well is approximately 2,960 meters.

Well Details:
The Tiof-4 well is intended to appraise the Tiof oil discovery. The well will
further evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic. The primary oil reservoir target is prognosed at
approximately 2,680 metres depth.


Tiof-3 Appraisal Well

Progress and Current Status:
The Tiof-3 appraisal well was spudded by the West Navigator on 26 September 2004
and the tophole section was drilled to 2,150 metres. Current operation is
preparing to run casing. The West Navigator will drill this well to total depth.

Well Location:
The Tiof discovery is located approximately 90 kilometres west of Nouakchott,
the Mauritanian capital, and 25 kilometres north of the Chinguetti Field. The
Tiof-3 well is located approximately 4 kilometres west of the Tiof-1 discovery
well. Water depth is 1,198 metres and the planned total depth of the well is
approximately 2,900 meters.

Well Details:
The Tiof-3 well is intended to appraise the Tiof oil discovery. The well will
further evaluate the Miocene channel sand system within the Tiof Field area as
interpreted with 3D seismic. The primary oil reservoir target is prognosed at
approximately 2,720 metres depth.


Chinguetti-8 Development Well (Water Injector)

Progress and Current Status:
Since the last report the well was drilled to total depth of 3,100 metres
(measured depth) and wireline logs were run. After review of the logs it was
decided to suspend the well for future use in the field development. Current
operation is setting plugs prior to suspension. The Stena Tay rig is drilling
the Chinguetti-8 well.

Well Location:
The Chinguetti Oil Field is located approximately 90 kilometres southwest of
Nouakchott, the Mauritanian capital. Water depth at the well is 820 metres and
the planned total depth of the well is approximately 3,238 meters.

Well Details:
The Chinguetti-8 development well was drilled in a location downdip and west of
the Chinguetti-4-5 well and is intended as a water injector for pressure support
during production. This well is the first deviated well to be drilled on the
Chinguetti Field and successfully confirmed the drilling technique for the
future development wells.

Other information:

All reported depths are referenced to the rig rotary table (except water depth).

Hydrocarbon shows will only be reported after all required logs have been run
and evaluated for each well.

Times and dates refer to GMT (Mauritania time), 8 hours behind Western Standard
Time, Perth.

A map showing the location of the wells will be available on the Hardman website
(
www.hdr.com.au
) and will be updated during the course of the 2004/2005 drilling
programme.

The 2004/05 drilling programme will include wells in three production sharing
contract areas (PSC's). Joint venture interests in those areas are:

Company PSC A PSC B PSC 2
Woodside group companies (operator) 53.846% 53.846% 48%
Hardman group companies 24.3% 21.6% 28.8%
BG group companies 13.084% 11.63%
Premier group companies 9.231%
Fusion Mauritania A Ltd 4.615%
ROC Oil group companies 4.155% 3.693% 3.2%
Energy Africa 20%



TED ELLYARD
MANAGING DIRECTOR

a whole lot of news but not alot said.

it is the usual with these weekly reports - no problems is great news. am i right is saying that we could see some real results in a month to six weeks?

I think so.

Just to update you proptrade,

I also hold HNR the biggest gainer, up 1k, PCI, PRE as well as SEY all long.

I have sold some HNR, all of TLW both +9 last week.

I see PRE as a stock either to hold or sell depending on what happens to the price over the next month, PCI has become a long hold like SEY since yesterday.

pre is one i cannot warm to after holing it up until about 1997. i would need to see some real progress to get involved again.

i am sticking with just SEY at the moment for the key reasons we know and love:

faith in management
income stream
diversified drill program (fully funded)

i will probably add when the spread comes in a bit. I am currently holding ESY which is a bit of a dog but has great long term prospects and i think could be bid for, AMEC which has a t/o story rumoured in the press (sunday times and FT) which looks more likely than most and a bit of LUP because i am a huge Hutchings fan (anyone that could get one over on the late great Hanson has to be one to follow albeit in a small way).

Decent buying today and up we go, nice. Still no results but read on another BB that end of week now. Looks to me as if they're working hard in Mauritania, plenty to keep us occupied there.

Since we're trading stocks here, thought i'd add my tuppence worth.

SEY - we know the prospects here, well documented. Topped up few times and no hesitation in doing so again.

PCI - been in since 7.6 and 11.6. Lots of newsflow re Tunisia, Italy and Algeria, interesting times ahead!

MPH - good recovery from earlier times. Lots to get excited about and hopefully more to come. Definitely add on future dips.

PLX - gold exploration company, not much happening now but potential amounts of gold in the ground, hopefully or so they say!

Some other stuff, AHT, NMI and YOO, small positions. Always keeping an open mind on additions, never say never! Biggest holdings are SEY, MPH and PCI.

its good to talk...

i know each thread is devoted to one stock but i have to say that the occasional diversion is never a bad thing. cheers for the names, certainly someting to have a look at for the rest of the morning.

thx for the results update as well.

rgds
proptrade

up they go...16 offer taken

can't remember seeing so much one way traffic...not a seller in sight, at least yet!

Quite a few paid 16, nice steady rise today with more to come I think. And yes it is good to talk. Cheers to you and SWW for sharing your stocks and trades.

HNR have posted their results.

That should give you more to look at prop.

It is an enourmous document!

Traders Thread in traders room, hilary has suggested a fill your boots on SEY.

Who's hilary?

Someone in the traders room dont know any credentials.

Nice to see you posting Kylie!

I've joined the party at 15.96

Welcome The Other Kevin.

Drinks on the table to the left, food to the right, dancing in the lounge, make as much noise as you like!

I assume this is the same Hilary that posted earlier on this thread. What was the response in the traders room SW? Don't have access to that.

Welcome aboard Kevin.

A bit of banter, nothing concrete, but the suggestion by hilary was followed by the price rise.

I assume that rise happened because of the earlier news items from HNR.

Thanks for the welcome guys. Just dabbling a bit in the oil sector with RPT as well.

I am giving the next level a try for a month, if things go well, I will probably step up each month to the next plan until I settle at a level that is suitable for me.

Must say premiere seems a little limited, but then it is cheap!