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

Thank you Minister.

And so it came to pass.............

Well, at least I don't try to give the impression to coastal shipping that I'm walking on water! lol, SWW!

Do you know me.

That's exactly what I look like..................

Now, these silly little retail trades won't do much, we need a few biggies just to round off the week.

Well, we got them.

3.5 mil in th last knockings.

Shown as sells, unless delayed trades trades, that is what they were.

What an excellent end to the week! This is on Oilbarrel just now, a review of the presentation during the week.

"Sterling Energy, which kicked off proceedings, is somewhere between the two. It was founded in October 2000, listed on AIM two years later and had what commercial director Paul Griggs described as a transformational year in 2004 on the back of the 40 million hostile takeover of Fusion Oil & Gas and the US$40 million acquisition of Ospreys Gulf of Mexico asset base. In the process the companys market cap has surged from 20 million to 250 million.

The Gulf of Mexico assets are the bread and butter of the business, said Griggs. Production at the shallow water assets has already doubled to 9.4 million cubic feet of gas per day and Sterling has set a target to double that number in 2005. Six exploration and appraisal wells are planned here for 2005.

In the first ten months since we signed the Osprey deal, its paid back one third of the price we paid for it, and its also worth more than we paid for it, said Griggs, pointing to a four-year extension to the fields average life span (now up to 15 years).

This revenue stream is set to become more of a river from the first quarter 2006. This is because of the Chinguetti back-in deal Sterling signed with the Mauritanian government in October 2004. The company raised cash on the UK equity market in order to provide the Mauritanian government with the cash it needs to fund its share of the Chinguetti field development costs. In return Sterling gets a sliding scale share of the production generated from the deepwater field - due onstream in the first quarter of 2006 at a rate of around 75,000 barrels per day - which roughly works out at an 8 per cent economic interest.

Sterling would like to negotiate further deals along these lines as the Mauritanian government seeks funding for future developments in its territorial waters. Future negotiations are likely to be competitive - although Sterling did see off competition to win its existing back-in deal with the government - and while there are no promises, said Griggs, the relationship now being forged between the British company and Nouakchott can only stand it in good stead.

The Chinguetti back-in deal isnt Sterlings only exposure to the Mauritanian offshore. One of the legacy arrangements negotiated by those canny managers at Fusion means that Sterling has also inherited the right to a discovery bonus whenever a discovery in the Mauritanian contract areas is declared commercial (to be paid by field partner Premier Oil) plus a royalty payment from the production attributable to Premier Oil, equivalent to about US$6 per barrel produced. This adds up to a very healthy income stream for Sterling - and with the Tiof, Tevet and Banda discoveries likely to move up the value chain towards a declaration of commerciality in the next year, not to mention a further 5-6 exploration wells to be drilled from July, theres plenty more upside to come.

Gabon looks to be shaping up to be another interesting project. The Iris Iboga Marin-1 exploration well is due to spud here next month. The deepwater well will cost US$10 million to drill but while Sterling holds a 25 per cent working interest it will only pay 2.5 per cent of the costs (thanks to Fusion again).

Sterling also holds 100 per cent of two large licences offshore Madagascar, an area comparable in size to the entire Central North Sea. Expect to see a farm-down before any significant work programme gets underway on this frontier acreage."


http://www.oilbarrel.com/home.html

Oil has flown past $60 per barrel in Asia overnight.

Stocks expected to open lower, all except oil of course.

http://www.portal.telegraph.co.uk/money/main.jhtml?xml=/money/2005/06/27/cnoil27.xml&menuId=242&sSheet=/money/2005/06/27/ixcity.html

"Crude reached historic highs of $60 dollars a barrel last week, causing a sell-off in global equities"

And that will be the problem for keeping them high in the middle to long term.

The World Economies won't sustain $100.

morning. wife's birthday today....i remebered, bought a gift she loves and have booked her favorite restaurant tonight. now all i need is for a couple of points move in SEY and i can pay the amex bill!

Not today proptrade. Just been quoted 17.25 - 17.45 online with Barclays. Can buy at least 50k on line so no shortage of stock. Offer is below the mid point so expect a tick down on the offer. Today's buys will show as sells.

might have to pop to the pawn shop then....

I dont like to eat prawns in this weather.

They need to be kept chilled or they will become very dodgy..........

Dont forget to bite their heads off, just like my Missus, she's very good at that.

and eat them...

2 million just went through (shares not prawns)

Interesting that on an almost entirely red day, albeit on low volume, the SP has held steady.

Was that 2 million a rollover?

Doesn't look like a rollover to me.

I believe the AGM is tomorrow. (Wednesday).

Let's hope good forward-looking comment from HW sends the SP into new territory.

Could be another field of operations for SEY or EEN!

GENEVA (AFX) - Kazakhstan's energy minister Vladimir Shkolnik said he hoped to export 130 mln tonnes of crude oil mainly to Europe within a decade as production is tripled every year.

Speaking on the sidelines of a regular United Nations meeting on Caspian Sea energy supplies, Shkolnik said the country currently had about 8 mln tonnes on tap but reiterated that it was aiming to expand that to 150 mln.

'In 10 years we are aiming to deliver to Europe, maybe not only to Europe, 130 mln tonnes of crude oil per year,' he told journalists.

Kazakhstan is regarded in the West as a potential alternative to traditional producers in the Middle East.

The Kazakh government is also aiming to put some of the blocks of offshore oil reserves it holds in its part of the Caspian up for tender open to foreign companies next year, the energy minister indicated.

'Part of the blocks will be developed together with our national oil and gas company. Part of the blocks will be put on open tender. This procedure I hope will start next year,' Shkolnik said.

Lets see what tomorrow brings.

Looking forward to the year end now.

http://moneyam.uk-wire.com/cgi-bin/articles/200506290700201869O.html


This should do it............


Sterling Energy PLC
29 June 2005

29 June 2005


STERLING ENERGY PLC
('Sterling' or the 'Company')

Successful Well Operations in Gulf of Mexico

Sterling Energy Plc, the London AIM listed (SEY) independent international oil &
gas exploration and production company, today announced the successful outcome
from the operations of two offshore wells in the Gulf of Mexico. A work-over of
a third well has commenced.

Eugene Island 268 - Sterling has successfully entered and recompleted the A-1
well at Eugene Island 268. The well was recompleted in the Lower Pleistocene EO
and EK sands with a sliding collar production assembly. The well tested gross
gas flows of 3.9 million cubic feet per day (mmcfd) from the deeper EO Sand. The
rig is in the process of moving off location following which the well will be
hooked up to the sales line. The upper recompletion in the shallower EK Sand
will be opened for production upon depletion of the EO Sand.

Sterling has a 60% working interest and 45% net revenue interest in the A-1
well.

Mustang Island 749 - Sterling has successfully drilled and completed the MU 749
GU No. 2 well adjacent to existing Sterling production at Mustang Island. The
well encountered 30 feet of net pay sand approximately 30 feet high structurally
to the other productive wells which have been drilled in this Cib Haz Sand
reservoir. Although Sterling encountered operational problems and delays in
drilling the No. 2 well, the well has now been completed and shut in following
positive pressure tests on the reservoir. Fabrication of the production
facilities has now commenced following which the No. 2 well will be connected to
Sterling's Mustang Island 747 Platform for production. The rig has now moved off
location to Matagorda Island.

After completing a farmout during drilling, Sterling owns a 75% working interest
and 56.4% net revenue interest in the No. 2 well.

Matagorda Island 520 - work-over operations have now commenced on the No. 16
well in the El Gordo field where Sterling has a 57.3% working interest and 45.8%
net revenue interest.

Sterling Finance Director, Graeme Thomson said;

'We are delighted with the results from these two wells which represent a
significant step towards our target of doubling production from the Gulf of
Mexico by the year end. With forward gas prices averaging over $7.50 /mmbtu for
the next year we are looking forward to strong cash flow from these assets.'