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

stockie, I think you asre right and Money am is wrong about the dates for interims and finals.

I'll stay quiet for a while and ponder.....................

To heck with selling in 2006 Q1, this has mileage to go for the next 5 years before think of it now.

ftse 100 constituant in 5 years (forget the quid by xmas!)

Morning all,

Not been around much hence no posts from myself, so thanks for all the posts for me to read. It's summer and has been too hot just sitting in front of the pc all day! Although it's grey and windy here today. Good to see the recent rise continue past the old high as we enter new territory, I just hope we can hold here. Excellent news this morning with the Exxon farm out, although not getting too excited as any activity will be a long way off. Still, it's good to see a deal done with a real heavyweight in the sector.

Evo have reiterated their buy on SEY this morning, but I haven't seen the note:

"Evolution says buy Sterling Energy (SEY.L) and Premier Research (PRG.L) and add Punch Taverns (PUB.L) and Ricardo (RCDO.L)."

cheers gav. good to see you again!

Reuters - Exxon boosts Madagascar presence with Sterling deal

"Madagascar is one of a number of new oil frontiers being explored off the east African coast as high oil prices and scarcity of opportunities force majors to explore in areas previously not deemed highly prospective.

Production in Africa has been dominated by west African players from Nigeria to Angola and Equatorial Guinea.

Success at Ambilobe and Ampasindava could transform London-headquartered Sterling. News of the deal boosted its shares 2.5 percent to 20-1/4 pence at 1020 GMT on Tuesday."

Two prospective Company transforming deals in one year, means one of them will no doubt happen.

Cheers Prop, always good to take a break, especially when the suns out, doesn't really happen much up here!

SWW, good post, liked this part:

Exxon already has a 40 percent stake in the Majunga block, immediately south of Ampasindava, which is operated by privately-owned U.S. oil group Vanco Energy, and in which Norway's Norsk Hydro holds 30 percent.

Vanco has said that two wells in its acreage encountered gas sands with resources potential in excess of 1 trillion cubic feet of gas

Seems someone is interested in getting in on the Themis and Iris Marin areas:

"Afren announces the acquisition of two companies which own a 12.86% participating interest in Themis Marin and Iris Marin blocks Exploration and Production Sharing Contracts offshore Gabon.

Afren has entered into an agreement with Ascent Resources plc (Ascent) to acquire two wholly owned subsidiaries, Gabon Investments (Iris Marin) Pty Ltd and Gabon Investments (Themis Marin) Pty Ltd. These companies hold a 12.86% Participating Interest in the Iris Marin Exploration and Production Sharing Contract (EPSC) and in the Themis Marin EPSC respectively."

Gabon

Sorry, here's the link, can't seem to get these links to work!

http://www.oilvoice.com/m/uploadDetail_public.asp?upload_ID=4133

As I recall, Sterling have a large holding in Ascent.

I will need to look it up.

No actually Hardman sold on their bit to Ascent for shares, Sterling still own 20ish percent.

Nice deal for Hardman I should think.

But even better for Ascent.

Ascent floats, sells Gabon and has royalties, drilling starts August 2005.

As Sterling have 20% of royalties I thought worthy of posting Ascents RNS.

Monkeys.

cheers SWW

Sterling also have a free carry in Gabon.

Why pay when others buy the beer??

remind me not to take you to the pub then!

Exxon boosts Madagascar presence with Sterling deal
Tue Jul 19, 2005 12:44 PM GMT
Printer Friendly

LONDON (Reuters) - U.S. oil major Exxon Mobil has boosted its oil and gas interests in Madagascar by taking a 70 percent interest in two licences held by small UK-listed oil explorer Sterling Energy.

Sterling said in a statement on Tuesday Exxon will receive a 70 percent share in the Ambilobe and Ampasindava licences off Madagascar's northwest coast, in return for paying for a significant exploration work programme on the blocks.

The deal shows growing oil major interest in Madagascar, which some in the business believe may become a rich new province for hydrocarbons.

Exxon already has a 40 percent stake in the Majunga block, immediately south of Ampasindava, which is operated by privately-owned U.S. oil group Vanco Energy, and in which Norway's Norsk Hydro holds 30 percent.

Vanco has said that two wells in its acreage encountered gas sands with resources potential in excess of 1 trillion cubic feet of gas.

Madagascar is one of a number of new oil frontiers being explored off the east African coast as high oil prices and scarcity of opportunities force majors to explore in areas previously not deemed highly prospective.

Production in Africa has been dominated by west African players from Nigeria to Angola and Equatorial Guinea.

Success at Ambilobe and Ampasindava could transform London-headquartered Sterling. News of the deal boosted its shares 2.5 percent to 20-1/4 pence at 1020 GMT on Tuesday.

Did someone mention a beer! :-) As for the Gabon interests, SEY hold 20.57% of both Iris and Themis Marin and are the operator on both licences. They only have to pay for 2.57% for each well with the rest being carried by PMO. According to the 04 report and accs, they hope to drill Iboga-1 on Iris in July of this year, although the Ascent RNS of today says drilling to commence in August.

I'm not really that tight.

lol

One liner in The Times, just says they have farmed out to Exxon Mobile.

I think Harry is secretly negotiating a takeover of Exxon, that can only be how he got the deal!

Great news from Exxon. This will boost SEY.

20.25 bid.