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

Andy,

I've always found them very accomodating with requests for hard copies of accounts and stuff. I just feel that it's easier reading something when you can hold it rather than having to stare into a screen. Team SEY seems to be awake as we hit the midnight hour! The oil price and the long futures are strong right now with the long contracts hitting new highs in general.OPEC meeting tomorrow in Vienna as I'm sure you know. Will be interesting to see how the market reacts to the 500k prod increase that is being talked about.

Gav,

Thanks, I will contact SEY tomorrow.

I think the oil price will remain strong personally.

More relevant posts between 11pm and midnight plus than any hours during trading hours.

I caught a bit of Bloomberg before shut down and there was an unnamed guy who semed to know what he was on about in respect of oil.

He said that the 500k increase was unklikely to make much impact, but his own opinion was that oil would head topwards 60 to 70 USD per barrel, or fall off the precipice and become ultra cheap.

That actually backed his horse both ways, but he is right of course.

The latter would happen if the world economies failed to manage the high price of oil imo and a recesion happened.

Is this a bubble or not?

I think it started as a bubble but the poo has now been absorbed as a norm.

http://www.timesonline.co.uk/newspaper/0,,172-1654413,00.html

"The only spare capacity left in the Opec system is in Saudi Arabia, which, theoretically, could produce an extra million barrels per day on a short-term basis. However, most of the oil is so-called heavy, high-sulphur crude that is unattractive to most refiners."

Seems to be no answer then does it?

morning, maybe we should start the graveshift mkt...enough punters seem to be about.

SEY really easy about sending hard copies. most companies are very obliging even if you are not a shareholder.

proptrade,

Just rung SEY, chap that answered the phone is very friendly, and my copy is on it's way.

easy isn't it!

i do that all the time...annoy FD's, CEO's, company secretaries and PR firms. I so so rarely don't get a very pleasant response.

you don't get someting if u don't ask!

prop,

Absolutely.

I speak to a few FD's and they always have time for a quick chat with a shareholder.

that is why i love the mkts, you can trade and have some fun on the boards but it is getting to the nitty gritty and chatting with the companies when you may only own a few grands worth of stock.

DYOR is the golden rule before i trade and i love the banter on the boards with guys who are well informed, newbies and those scurrelous types who want to ramp and deramp. long live the boards and never take anything you hear on them too literally.

rgds
PT

ps i am off my soapbox now

pt - hope SBX does better than ARX.

sd

Morning all,

See that Amvescap have added another 6m.

http://www.uk-wire.com/cgi-bin/articles/20050615114100Z7480.html

Amvescap PLC


FORM SAR 3

DISCLOSURE OF ACQUISITIONS

(Rule 3 of The Rules Governing Substantial Acquisitions of Shares)


Name of acquirer AMVESCAP PLC
--------------------------------------------------------------------------------------------------------
Beneficial owner, if different from above

--------------------------------------------------------------------------------------------------------
Names of any other persons acting by
agreement or understanding (see SAR 5)
--------------------------------------------------------------------------------------------------------
Company dealt in STERLING ENERGY PLC
--------------------------------------------------------------------------------------------------------
Class of voting shares (eg ordinary shares) ORDINARY 1P
--------------------------------------------------------------------------------------------------------
Date of acquisition 14 JUNE 2005
--------------------------------------------------------------------------------------------------------



Number of shares acquired 6,000,000
--------------------------------------------------------------------------------------------------------
Number of rights over shares acquired #
--------------------------------------------------------------------------------------------------------
Nature of rights over shares
--------------------------------------------------------------------------------------------------------



Total holding of voting shares (and
percentage of total voting shares in issue)228,316,615 ( 16.38% )
--------------------------------------------------------------------------------------------------------
Total holding of rights over shares (and
percentage of total voting shares in issue)
--------------------------------------------------------------------------------------------------------
Combined total holding (and percentage) of
voting shares and rights over shares 228,316,615 ( 16.38% )
--------------------------------------------------------------------------------------------------------



Date of disclosure 15 JUNE 2005
--------------------------------------------------------------------------------------------------------
Contact name MARIA MADEMYR
--------------------------------------------------------------------------------------------------------
Telephone number 01491 417215
--------------------------------------------------------------------------------------------------------


# See the definition of 'rights over shares' in the Definitions Section of the
SARs.

For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at

www.thetakeoverpanel.org.uk

.

Spotted this story on iii a couple of hours ago. Adds credence to stories of a super spike in oil prices.

VIENNA (Reuters) - OPEC on Wednesday prepared to raise oil output limits but lack of spare capacity means the cartel may fail to topple prices from $55 a barrel.
The Organization of the Petroleum Exporting Countries is expected to raise its formal production quotas by 500,000 barrels a day to 28 million bpd, excluding some 1.8 million from Iraq.
But that will merely legitimise its existing output, postponing an even greater test for hard-pressed producers for the fourth quarter, when annual world demand peaks.
"We have to prepare for the fourth quarter. Demands on OPEC will increase to 30.5-31 (million bpd) and we have to prepare ourselves to continue increasing our production just to reach the call on OPEC," said cartel President Sheikh Ahmad al-Fahd al-Sabah of Kuwait.

By the way. SEY bid price is down a quarter point. MMs have widened the spread.

all good news...6 million shares. loving it. get that placement stock out the mkt.

all good news...6 million shares. loving it. get that placement stock out the mkt.

crude now >$56 per barrel, after OPEC meeting!

Andy,

$60 soon perhaps. So OPEC will raise the ceiling by 500k, but is it actually any new oil coming to the market? I would have thought that they will have been pumping the stuff to the max. Also can the refineries in the US etc really cope?

Also, todays US inventories showed a drawdown on crude:

2005-06-15 15:36:13

Crude tops $56 after supply data

DALLAS (AFX) -- July-dated crude futures topped $56 a barrel Wednesday on

the New York Mercantile Exchange after the Energy Department said U.S. crude

supplies fell 1.8 million barrels in the week ended June 10. The Energy

Department also said gasoline supplies declined 900,000 barrels, but distillate

stocks rose 2.5 million barrels. July crude was last at $56.05, up $1.05.

Think we are heading for a spike as widely predicted.

OPEC's offering will do little to dampen this down.

Just so long as it does not go too high, and comes back again.

Any spike to $60 and beyond would keep prices around $50 minimum imo as the new norm.

Matt Simmons last presentation on oil is worth a read. Makes a lot of valid points.

http://www.simmonsco-intl.com/files/PESA%20Annual%20Meeting.pdf

Gav,

Intersting read!