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

All,

Sorry been busy with carpet fitters and other duties around the house today.

I attended the Oilbarrel conference yesterday, and was duly impressed with the Sterling presentation, but there was nothing new really.

Amongst the notes I made were that Osprey was one third repaid in the first ten months of ownership, and they were looking to double production again this year.
SEY are looking to rework some wells that were uneconomic to rework in the past.


CAmeroon -

on hold due to a border dispute.


Guinea -

Noted that the other company were advancing the project at a pace that even SEY thought was too fast to be pruduent!


Gabon -

Drilling soon on Iris, nest month, and later on Themis.


Madagascar -

The concession is enormous, and SEY used an overlay of the N. Sea, to emphasise it's size! The licence has an 18 month lifespan, and can be renewed.

2D is possible within a year, and SEY are considering farming out, and have received many enquiries form larger companies regarding this.

Forum - Philippines

SEY are confident of sucess, and hold a 23% interest.


Sey mentioned they had hedged approximately 50% of US gas production, and also some mauritanian production, for the first two years, in a range of $38 - $42 (I think!), and then upwards over $50 PB, to protect the upside if oil remains highly priced in the longer term.


Sorry it's brief, but H. Wilson did not give the presentation, and the guy that did spoke quite quickly IMO.

As I say, nothing earth shattering, but they seemd confident enough, so I left more than satisfied.

Andy,

Thanks for your write up, sounds positive, as does the presentation. Good to hear that there is a lot of interest from others in the Madagascar acreage. No doubt SEY will pull of a decent deal here. As you say, not a lot of totally new info, but positive all the same.

Gavdfc,

thanks.

Sorry I forgot to post that one memeber of the audience questioned whether SEY may join the main market.

The respondent said that SEY were happy to remain on AIM for the foreseeable future, and the "flexibility" of AIM had enabled SEY to grow and push through the deals thay have done in the last year, and that would not have been possible on the main market.

I am happy with this, not least because my BATR would be ruined if they left AIM, and I would like at least one more year before they do!

Andy,

Thanks for that.

Andy, cheers for the feedback.

I see that gav has already found the oil barrel do dah.

Nice presentation, and has been said, nothing we dont knoiw except that Mustang Island has still not been reported on.

Plus it shows High Island 52, whichbwas drilled last year and was a duster.

Not competely accurate then.


Morning all, up or down will suit me.

Down I buy more, up I am happy.

loads of volume today!

Tick down on it's way imo.

WEIRD. mm stock but they are 17 offered off the board...don't get that.

anyway nice 4 million tranche went through. nothing like mopping this stock up...

may try and buy some at 17...

rgds
PT

prop I am quoted 16.97p for 20K which is around 117k shares.

Bit toppy.(top end, may be no tick down then.

I'm waiting for a better price.

Now quoted 16.88p

evo on their own on the bid

Which is???????????

16.75 (evolution)

16.75p I assume.

Holding it up are they?

Let it fall you fools.

I want more at 15p

1m trade just gone through

Gav,

Several tasty buys have gone through just after the bell!

Three T (protected) trades, one for 2,350,000 and two 1 million trades.

interesting...

Not sure about the 2.35m trade, perhaps a sell that has just been completed? I give up trying to figure out T trades, hurts my head in this heat! And I'm hungry!

gav,

LOL!


This was posted on ADVFN yesterday by the poster "poo bear", who has kindly allowed me to post it here.

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From Harry Wilsons email to me.

"I would also like to clarify exactly what our interest is in PSC B (which includes the Tiof field). Firstly, we receive a "discovery bonus" from Premier of $2m for each new discovery over 50 million barrels declared commercial - there are presently 3 potential field developments where this might apply - Tiof, Tevet & Banda. Secondly, we receive from Premier a "sliding scale royalty payment" on 6% of the gross production taken out of the license (this will be reduced by the government back-in where we also have an interest). By way of example, the sliding scale royalty is $2.75 per barrel when oil price is $28 - 31 per barrel and $4.75 per barrel when oil price is $40 - 43 per barrel. This royalty payment comes to us without any costs apart from tax. So it is clearly in Sterling's interests to see as much drilling by the partners as possible in the license. I hope this is clear."

In addition to PSC Area B, PSC Area A = Fusion group companies 4.615%

Fusion is a wholely owned subsidiary of Sterling Energy