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

good trend pre announcement. it must have been mentioned somewhere because you can almost hear the rumour of good news surrounding the stock.

welome to all new posters on the thread...we are nice big happy family here, and happier with each upward tick.

rgds
proptrade

Hey looking at the trades, shouldnt this be blue today?

Latest buy 162,000 at 8.25p gone through but the price remains unchanged at 8p buy!! Obvious reluctance to move the price....

how many are there at 8.25, i'll buy a billion!

Price now moved but wht on earth are they doing . solid blue on the screen poor guy bought 162000 at 8.25p and 8 buy transactions later someoune bought 10000 at 7.88p!!!! God I would be pissed off if i was that guy!
It really makes you feel that they are out to lunch! Or perhaps they should have stayed at lunch

willfagg - you on the right thread ? Hope not, I paid 15.98 for mine yesterday

Dear Hotei, perhaps I should watch what i have at lunch . I should have posted on FTO - sorry for any confusion.Would have thought SEY would have gone blue today, still glad to see you have the confidence to buy in, should be a lot more to come yet.

Just another brighter moment on the SEY Thread!!!

;-)

The Lottery numbers

"Highlights

Osprey acquisition helped double turnover to 5.34 million and increase
pre tax profit by 78% to 1.98 million for the six months ended 30 June 2004
.
Daily production more than doubled to 8.6mmcfged over the period and US
reserves also increased more than 150% to 60 bcfge at 30 June 2004.

Realised average gas price remained 'high' at $5.76/mcf over the period
with a further $13million of forward sales to April 2005 locked in at $5.91/
mcf.

Chinguetti Field in Mauritania declared commercial - development plan
approved.

Two new exploration licences secured in Madagascar.

West Africa and Gulf of Mexico drilling programmes commenced with over 20
wells planned over the next year, most of which are 'carried' in Africa."


"Outlook
Sterling has just entered its most active drilling period to date, which will
see the company participate in over 20 wells in Africa and the Gulf of Mexico
over the next year. The majority of the African wells are in Mauritania where
our costs are fully carried. We have recently demonstrated our conviction in the
prospectivity of the Ntem Cameroon license by committing to drill a well - we
look forward to a high impact well on this block in the second half of 2005.

Although smaller than the African upside potential, the Gulf of Mexico drilling
programme is expected to add incremental production and cashflow at lower risk.
We continue to believe that balancing this risk and reward is key to the future
success of Sterling."

Nice :-))))

I like this part very much :-

USA
In the USA the focus in the first half of 2004 has been on building a team of
high quality experienced industry personnel and on delivering the $39.5m Osprey
production deal and its related bank finance.

Our US proven and probable reserves increased to more than 60 bcfge at mid-year
from 23.3 bcfge at the end of 2003, based on a full evaluation carried out by
independent consulting engineers. This increase reflects not only the Osprey
purchase but also an overall increase in reserves in other fields. At current
production rates these reserves are roughly equivalent to over 15 years of
production.

The Osprey deal, completed in late February, brought with it Sterling's first
operatorship, of the five fields, related pipelines and other infrastructure.
The purchase more than doubled reserves, adding more than 30 bcfe in the proven
and probable categories. It has also more than doubled production, which in the
first six months of 2004 averaged 8.6 mmcfged. Recent production sales have been
around 10.5 mmcfged.

That was a better way to show the interims hilary, thanks.

Good summary gavdfc

Loads of 'O' buys this morning, may take a whilke for themm to catch up with the results as there are rather a lot out today!

Richard :-

Thanks

:-)))

One 250000 trade at 16p Market Maker to Market Maker.

Now that is a good sign!

Nice MM trade. Looking good for moving up today, cracking set of results and the future looks rosy! But we already knew that! Should get a great write up in oilbarrel tom or Monday and lots of good press coverage.

Happy days indeed!

It'll only move up once that background seller goes clear. Relax.

They must have heard me. Spooky.

:o)

Am very relaxed Hilary, but happy too! :-))

well, i have been over the results a couple of times and am confident that SEY has delivered and was unwavering in their positive message.

i was most encouraged by the news that BG group bought a % of their acreage for a very keen valuation. bodes well for those with confidence, these guys don't mess when it comes to a 100+ million investment. (probably very old news but i had missed it somewhere down the line).

mkt is waiting for a strike before these bust 20p but that is fine with me, buying at this level later....

rgd
proptrade

A taxing issue:

"The taxation charge of 0.69 million principally relates to the US production
operations, with a tax rate charged of approximately 34%. Due to the level of
capital expenditures on drilling and similar costs, as well as depletion, we do
not estimate any significant current tax to be payable in the period. We have,
however, provided for the resultant deferred tax in full."

My reading of this is that they have put aside 690k to pay the tax for the period, but they do not expect to have to pay it due to offsetting it against cap ex, drilling and other depletion. Am I reading this correct? Sounds prudent to me if that is what they have done, anyone agree? Also, if that is the case then will the 690k not be added to the balance sheet when they have it confirmed they don't have to pay it?