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

Nice way to end the week. Although the bid is 19.75, MMs are bidding 20p. More to come.

pond,

i think so!!!

nice write up in the Chronicle, should help the momentum tomorrow!!!

Aim,

well we are up .25p, probably MM's rasising the price in anticipation of IC readers generating some buying.

Oddly enough, it wasn't the offer that went up today - it was the bid that ticked up.

Forum Energy floats today epic FEP.

Sterling hold 23% of the company.

SWW

is the 23% not diluted to 15% upon placing?

SWW,

Sorry it's 14.7% post float.

SWW - SEY's 23% has been diluted by the recent 11m fund-raising for 36% of the enlarged capital to 15%. Harry Wilson and the FD sit on the board. Dealing has opened with a small premium at 118p compared to 112p placing price.

sd

Sorry didn't keep up there, I would not know the answer unless I looked it up, so thanks sd.

From citywire

Edmond Jackson Comments

"Sterling, representing 9.6% of JOT, is expected to benefit from an astute financing deal with the Mauritanian government where Sterling gets an 8% stake in the Chinguetti oilfield � scheduled for first oil in the first quarter of 2006 and planned to rapidly achieve peak production of 75,000 barrels per day. Sterling�s E&P portfolio has other promising projects such as the Gulf of Mexico where success in gas should boost cash flow, also Madagascar and the Cameroons."

Any one heard any more on this or any thoughts:

http://www.alertnet.org/thenews/newsdesk/L03431118.htm

http://news.bbc.co.uk/1/hi/world/africa/4741243.stm

Hate to scaremonger but Sky has given a very brief report on a military coup in Mauritania. This was accompanied by a map pointing out Mauritius, so some confusion as to reality.

Hi guys

have sold mine for now - will look to buy in when the situation in Mauritania is resolved (have too much exposure with this and DNX )

fundementalist,

Well whoever runs the country, I think they will still want the oil revenues, and US are unlikely to allow western contracts to be annulled, or radicl muslims to take over a friendly country.

I'm out too.

That's 2 attempts at Coup D'etat in 12 months.

Sterling have an agreement with a Government that is being turned over right now so who knows where it will go once the dust settles.

This may have a great upside but I feel more comfortable watching for a while.

Good luck to any left in.

I should add that I take note of what has happened in Iraq, it may take time to sort out existing contracts post the Coup if it is sucessful.

That's time can not give at the moment.

SWW,

I'm still here and watching SKY for news, but I feel sure whoever is in charge will want the oil revenue.

Not sold any yet, sells are still mostly PI size.

Interesting reaction across the shares to the news by 3 companies with exposure to Mauritania:

HNR -9%
SEY -6%
DNX +3%

Can understand the two shares dropping (even if only a short term reaction), cant understand why DNX is going up - anyone got any ideas?

Same with PMO, it really needs shorting but I dont do that sort of thing usually.

Heard on the news that Elf Aquitane already produce in Mauritania, so the French will be watching the situation closely I would imagine, particularly as it's a former colony.

I am still holding.