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

SWW..thx for the Bulls post...looking for the 20 bid now....

19.75 bid...

this has been poorly valued for a while now- i would think a level in the mid twenties more realistic.

lizard - how are you old boy! been ages since a post....are you buying more?

Will it?

Won't it?

Me?

I think this is the top until further news.

SWW...i think we see 22 or 23p before the news...

betcha!

Well I hope you are right, things I am noticing are the dropping price of oil, the strengthening dollar, and less retail since the weekend.

Okay, so it's early doors, but looking across the sector there seems generally a reaction to the first two.

SEY needs something urgently or it will dip too, probably not by too much this time, before the next run up.

That is the only way it will breakaway from these lower areas. There's me with me chocloate bars again.........

i fancy a takeover.....well there will be sometime!

I agree but it wont happen yet.

It wont happen if Tiof is declared commercial, it may happen just before Tiof produces though.

Of course I am neatly ignoring other ventures across the world.

Of course they could alos go out on the hoof to try and take over someone else, like Hardman.

Okay, maybe not.

they are set up an a diversified company so could be picked off by a major (Shell). it may not be for a while but when they are still cheap...

Madagascar Farmout
Perfect Timing I think.

Sterling Energy PLC
19 July 2005



19 July 2005



Sterling Energy plc ('Sterling' or the 'Company')



Madagascar farm-out to ExxonMobil



Sterling, the AIM listed (symbol: SEY) independent oil & gas exploration and
production company, announced today that it has signed a farm-out deal with
ExxonMobil for the Ambilobe and Ampasindava offshore licences in Madagascar.



Sterling was granted a 100% interest and operatorship of the two licences which
were signed in July 2004 and formally ratified in November 2004. The licences
cover approximately 20,800 sq km and 13,147 sq km, respectively of the Ambilobe
and the Majunga Basins. The total exploration licence term in each licence is 8
years and in the event of a commercial discovery a 25 year production licence
will be granted.



Under the terms of the deal with Sterling, ExxonMobil will pay for a significant
exploration work programme in return for a 70% interest in the licences. The
agreement is subject to certain milestones being achieved with the initial
ExxonMobil commitment for the first two exploration phases under the licence
covering technical studies and 2D seismic. Assuming a positive outcome of this
initial work, which could take up to a further 3 years, ExxonMobil will then
finance 3D seismic and up to two wells per licence. The transaction remains
subject to approval of the Government of Madagascar.



The Ambilobe and Ampasindava licences cover a large under-explored area offshore
Madagascar in which all of the geological elements for a working petroleum
system are believed to be present. Madagascar has seen an increase in
exploration activity - in 2004 ExxonMobil and Norsk Hydro farmed-in to Vanco's
exploration licence in the Majunga basin, adjacent to Sterling's Ampasindava
licence.



Sterling Chief Executive, Harry Wilson, said:



'The signing of this deal with a partner such as ExxonMobil, with their
extensive existing interests in Madagascar, reflects the potential of this
acreage. Sterling will benefit from its residual 30% carried interest in the
licences without the financial risks of an exploration work programme.'





For further information contact:



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

No one gets up in the mornings here any more.

I'm up and at my desk after a healthy bike ride to the office.

As you say perfect timing to push us through the 20p previous peak into uncharted territory - dun, duh, dah, dah, daaaah! as they say in Star Trek!

I take it this was the reason why the Interims were held up?

Last year they appeared on the 30th June according to Company Reports here.

Looking at the chart there is an interesting extended formation worthy of note, I think.

Taking the double bottoms of Dec and May with the double top of April, these three micro patterns, taken together, form a larger and very strong double bottom at 14.5p with an intervening peak at 18.75p - a difference of 4.25p. Having broken north of the middle peak, one may expect the SP to rise by 4.25p to 23p in relatively short order (today? - certainly pre interims). See Proptrades post 4567 where he suggests 22-23p. I agree.

SWW - I'm not sure you are right about interims - finals appear in May the last two years and interims appeared in September last year, looking back at the RNS.

sd

great news and what a great major to tie up with...

some real momentum building here. this could curry favour (felt like saying it) with the US guys even more now. sell side will comment because of Exxon and just takes the name of SEY to new places and punters.

yet again, the managers are proving themselves.

prop,

Totally agree, another good deal for SEY, Harry and the team have done well again IMO.

I would hope 20p will become support rather than resistance now.

exactly. a bit more (fully funded) diversification to what is turning into an excellent international portfolio.

I am told that EVO have upgraded their projected sp to 33p.

Yet to confirm.