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

Positive AGM statement!

Sterling Energy PLC
29 June 2005


29 JUNE 2005

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


2005 annual general meeting

a TRANSFORMATIONAL year



At today's Annual General Meeting, Mr Harry Wilson, Chief Executive of Sterling,
made the following statement:



'2004 was a successful and eventful year for Sterling and 2005 has begun in the
same fashion.



A strong performance in 2004 on a broad range of financial and operational
fronts has transformed the company and its prospects. Notable achievements
during the year were a 144% increase in operating cashflow to 8.1 million, a
doubling of production to 10.2 million cubic feet gas per day ('mmcfge/d') and a
450% increase in net 2P reserves to 21.6 million barrels oil equivalent ('mmboe
'). The successful 97 million fund raising and acquisition of an equivalent
c.8% economic interest in the Chinguetti development, offshore Mauritania,
presages a step change for Sterling when the field comes on production in Q1
2006. This deal also positions Sterling as an innovative participant within one
of the world's most prospective hydrocarbon regions and cements a strong
relationship with the Mauritanian Government.



In recent months we have brought more focus to our African operations through
the disposal of non-core assets such as those in the Philippines and the farmout
of assets such as Dome Flore in the AGC to accelerate development and reduce
risk.



We are participating in an active drilling programme in Africa, much of it on a
carried basis and our US programme aims to double production in the Gulf of
Mexico by the year end. Earlier today we announced the successful recompletion
of a well in our Eugene Island 268 license and the completion of a well in our
Mustang Island license, both in the Gulf of Mexico. The first of these, on
Eugene Island, will shortly be on production and is expected to lift our Gulf of
Mexico production by over 15%.



The substantial boost in our cash flow from our share of the expected 75,000
boepd of production from the Chinguetti development in 2006 and the continued
strong commodity prices, will allow the Company to access many new opportunities
for growth. I do not expect any let up in the pace of our activities over the
next 12 months.'



All resolutions proposed at the AGM were duly passed.





Enquiries

Sterling Energy (01582 462 121) Web site:
www.sterlingenergyplc.com

Harry Wilson
Graeme Thomson

Citigate Dewe Rogerson (020 7638 9571)
Martin Jackson
Nina Soon

Evolution Securities (020 7071 4300)
Rob Collins
Henry Turcan




This information is provided by RNS
The company news service from the London Stock Exchange

Thanks p/t
Good double whammy from drilling report and AGM - surely that has to have some effect on the SP - even for SEY!

it is this damn issue of the placement overhang....patience needed...

just bought 50,000 at 18. money where my mouth is...nope. just think these could push on tomorrow.

Good luck proptrade. Tomorrow maybe not - but on a 6-9 month view it's nailed on. Better then cash in the bank.

Good to see your confidence on public display, p/t, especially if p/l supports it!

well, punters paying 18.25 so fingers crossed!

Good to finally get some drilling updates here and a positive AGM statement, although wasn't expecting a negative one.

Thanks go to discokingeddie on TMF for doing this write up of this mornings meeting:

http://boards.fool.co.uk/Message.asp?mid=9387105&sort=postdate

Eddie posts as Camilla on iii (?). He's just posted his report there as well. A great read. Thanks Eddie / Camilla

Al,

I attended the AGM today, but very limited time tonight, so I'll write up a brief resume tomorrow if I can.

Needless to say, the vibes were good, and the feeling remains that SEY will reward in the longer term.

I spent a few minutes talking to Harry Wilson, who was friendly and clearly pleased to talk to a private investor.

I take it no ones noticed the 18 bid! :-)

i did but my upgarede firewall has been fiving me all sorts of problems!

Well with 18 on the bid I'm sure you can put up with a few firewall problems today!

Yep - me too. Now quoting 18 - 18.75 online with Barclays. I've just been quoted 18.3 - 18.75 for 20,000. Couldn't get a quote for 50,000 online earlier today. Looks as though we could be due another tick up before much longer. These are flying today. Makes up for my other big holding, BUR which has tanked today after a downgrade from UBS.

a few indeed. a leg up to 20 i feel....just seems that the word is getting around about this one...

Happy days here just now. Seems yesterdays AGM and drilling report have gone down well. As to analyst downgrades, they've been saying sell on my biggest holding SIA all the way up from 3 to where it is now! A move up to 20 would be good, but surely we will pause a bit after the recent strength?

Personally I wish they would all drop back so I can get a bargain, but I think bur, sia, dnx are way too overpriced.

I only say that because I want more............. but cheap.

Great news here today, looks like we may be breaking out at last.

I have no doubt I will get chastised for saying that.

SWW,

let's not tempt fate!

I don't understand why some people sold at 14.5p. They could wait and sell above 18 or even higher.

When can they learn?

18.25 bid!