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

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!

Thought you'd like it Andy! He was interviewed on CNBC briefly yesterday. He was asked what he thought the oil price would be over the next 5 years. His answer was that it "would go through the roof". His arguement was that when this happened the world would finally take notice and come up with an alternative to oil. He was also scathing of the Saudi's and to their claims of reserves etc.

Hmm.......... yes thanks gavin.

Food for thought.

Good find again.

Indeed SWW. Link to Simmons website, contains a lot of his presentations and past papers.

http://www.simmonsco-intl.com/

Taking stock across the sector, it is VERY bullish atm.

As I said earlier on, I think we are in for high prices per bbo.

OPEC did nothibng for me today except try to paper over the cracks.

I had a look a Fundys post on DNX, he sums it all up very well.

Mauriatnia can not come quick enough now for SEY HNR and Woodie imo.

I'll say no more or it will seem like ramping, other than I am not selling any .......yet!

Can you see I went back in time and had French Chardonnay tonight???

Rich flavour not so much, OI YOU!!

12 just under a bottle.................. must be mad.

Truth is that Unwins and the Threshers look alike are not stocking too much USA stuff just now.

Did hear there was a glut last year, but I drank that, so that could be the reason.

Hello all, it's very quiet on here today... have we run out of recipes??

Looks like you have been sent to Coventry, goal, I just came back in so hello.

Not too much in the way of trades today, a blip up for Hardman is down to a reasonable write up in the independant, having a look around now to catch up.......

Down 1/2p near the end on low volume.

Thought I would say something as everyone else is mum.

I am looking to top up again if it heads back to the 14p levels and then sell thoise at 16p ish.

That seems to be the channel Sterling is in.


Hardman had a good day, they seem to be moving up a gear as the next drilling round and production nears.

Rememebr that Hardman had the same difficult beginings as Sterling.

One good find and away they have gone, albeit slowly at first. Their sp only doubled in the last financial year, come to that so did Sterling.

Any comments anyone?

i am having a curry tonight. with a beer.

good idea - will suggest same and earn brownie pints (sorry points) at home.

next crucial phase for SP is to break up through the very firmly established 17p resistance level. down to 14p again from here would be a very weak signal and might fall back through 14p with no visible means of support below.

A decent RNS before that happens, please.

ditto. come on SEY - 20p please.

You are a wag prop................. curry and a pint.

Bets advice I have heard in a long while.

At least we are talking again........... now, hectorp on the other channel says we are in an inverted head and shoulders.

I have tried standing onmy head to view it but keep toppling over befoire I see exactly what he is talking about.

I think one shoulder is before the satrt of the year in july last.

I love pretty patterns as you know so over to you lot, please have a go at interpreting the inverted bit.

Have a nice evening.

sey continues to disappoint!!!!!!!!-

sww - my version is that the left hand shoulder (upside down) is formed by the osciallation around 15.5-16.5p at start of May; the head in the middle of May, including a double bottom (good sign); currently the finishing touches are being put to the right hand shoulder (upside down).

The fact that there has been a right way up h&s centred on November (complete with punk spiked harido) and Mar/April and another inverted one centred on December only gooes to show the SP does not know whether it is standing on its head or its feet. But for the moment we may enjoy the anticipation of likely upward movementuntil at least 17p (the old shoulders of the last right way up h&s) - or not (pace ii/pm).

Perhaps the SP is just roflih&so and when it stops we will get a sensible linear chart at 45% to the horizontal rising into the wide blue yonder.

On that pipe dream, I am off for my curry and a pint with my old dutch - can anyone let me know the origin of that expression - prizes from uncle eric for the best answer.

sd