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

come on momentum. may but more today....by the way gavdfc, ESY up on no news. Ofcomm anticipation?

17p already - through the 200dma, will she burst through the 17p resistance today? SEY is first item on the agenda at Oilbarrel Seminar today in the City - this may well bring her the attention she craves.

Go for it SEY you can do it.
Going to the US tomorrow for four weeks I will help swell the driving season I guess my wife will attempt singlehandedly to re-inflate the Greenspan economy
Good luck to all

Morning all.

May 'The Force' be with us.

i can feel it.

Sunray...have a great trip. I will doing my bit with a trip in July...

Currently 16.76 - 17.09 on line. Nice!

who is that quote with out of interest?

Hoodless Brennan have same quote

cheers for that.

16.75 BID

Just seen a copy of the Oilbarrel presentation, looked quite good and it should be on the website tomorrow. Looking forward to hearing Andy's thoughts on the overall presentation.

gavdfc - where can you read it? Wanted to go, but stuff came up at work which prevented me making it.

sd

Stockdog, received a copy of it tonight from the company when they told me that it would be on the website tomorrow. If you want a copy then email me via Moneyam and I'll send it on to you.

Gav

Nothing on TMF, they are rattling on about Tullow, GKP and the food.

Dont read much excitemnt about them.

Humph.........

Some drill targets announced by Woodside. 3 out of 6 will affect Sterling one way or another. Two in PSC A one in PSC B

"Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum Ltd., reports that the first three exploration locations for its 2005 Mauritanian exploration drilling sequence have been selected.

Two of the wells, Sotto and Colin, will target relatively high risk but potentially high reward prospects in PSC Area A. The third well, Espadon, is targeting a medium risk, moderate reward prospect close to the Tiof Discovery in PSC Area B. It is planned to begin drilling these wells in late July 2005 using the Stena Tay drill rig.

The locations of these three initial exploration wells and previous Woodside-interest wells and discoveries are shown on the attached map.
A further three wells are likely before the end of the year, including one in PSC Area C6. Subsequent announcements will be made concerning these wells."

Thank you 618(TMF) for finding this.

http://imagesignal.comsec.com.au/asxdata/20050622/pdf/00528670.pdf

Oil Barrel presentation an attendees view.

http://boards.fool.co.uk/Message.asp?mid=9372423

I would say that, of all the companies presenting, I thought Sterling were potentially the most attractive for the medium/long term. However, a major impediment for me is that not only are they AIM-listed, they seem completely happy to remain on AIM {"been fantastic" "flexible" etc etc)......

....so....no chance of me buying any.

They were asked if the Fusion people were locked in......they aren't! [long woffly answer about integrated into Sterling now blah blah]. The Perth office is maintained entirely for their convenience.

GoM:
Osprey deal got great deal of attention - "paid back a third of its cost in 10 months". aiming to double production again. 2P reserves now 60bcfge. 2 of the 6 explo wells have results very soon.

Mauritania:
Chingetti "140mn bbls" [nb Hardman holders - vs 125mn suggested previously]. SEY have an 8% economic interest, plus a royalty from PMO [$6 per barrel.....roughly 40% of the total economic interest attributable to PMO.....PMO holders please note] They have still to be paid their discovery bonuses re Tiof, Tevet and Banda.

Rest of Africa:
Bigged up the prospects for Gulf of Guinea. In Gabon, Iris Marin spuds in July [$10mn, 25-30 day well....but whilst SEY have a 20.57% interest, they pay only 2.57% of the costs....thanks again to PMO] estimated recoverables 30-40mn bbls. Madagascar sounds massive - but extremely early days and they'll farm out [70-80%?] for a free carry on an accelerated work programme....no shortage of quality farminees

General:
Farming out in order to accelerate development is a common thread. Hedging is an important risk management component.

In sum: solid prospects but not likely to shoot the explo lights out AFAICS. I am disappointed that they prefer to stick to AIM rather than moving to the main market, given the present stage in their development.

ee

SWW, cheers for the post. I think the AIM issue will work itself out over the next 24 months...

I would expect so.

ee did a great job for us in the absence of any other posts, especially as he does not hold and will not.

We need to remember that many an AIM stock have had plenty of sucess.

In Sterlings case it seems they are leeches in PMO's side, I have often wondered how long PMO would put up with it before they buy them out.

I also note that BG. have been mooted as becoming aggresive in the m&a arena, so who knows.

All good stuff.

As I made a bit on HNR again, I may welltop up on any dips in Sterling if they come before any in Hardman.

i think sey are right to stay in aim - but may be they will progress into main mkt when the business progresses in due course.

BTW - when is it likely that the first AIM company will have sufficient maket cap to qualify for FTSE 100? Which one will it be? Would it be admitted to FTSE 100, not being part of the main market? Anyone know?

sd