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

Liked the pics and the 007 from Oz.
Can only suggest that he goes into the shipyard on his return from Malaysia wearing a Petronus T shirt to get the treatment.
Thanks for sharing the story --- the ship looks good.

guys,

great thread this, really informative and a good read!!!

surprised Sterling have held up after the coup, and other oil stocks falling, pleased i wasn't spooked into selling any like so many were...

theres trouble in Ecuador according to the news, so they are exporting less, and certain US refinieries are having problems so oil price will bounce very soon i reckon.

http://www.moneyam.com/action/news/showArticle?id=926199

thx for that post...i stand by the view that there will be no change to the agreements because lets face it, who would give up an economic agreement that would then see all multinationals pull out!

hold and prosper!

Dr Square, thanks for the Money AM link. Think we held up well here considering the recent sell off across the sector over the last few days.

Agree with Prop comment --- there is no sign of anything else than business as usual
The only real threat is an internal push towards a more fundamentalist doctrine which calls off all normal processes. I cannot detect any hint of that.

Sotto is a dry one, tevet has a target underneath the previous target, Iris Marin is drilling ahead.................

"Premier Oil PLC
23 August 2005



PREMIER OIL PLC
('Premier')

Drilling Update

Premier reports the following in relation to its current drilling programme:

Mauritania

PSC Area A: Sotto-1 ST1 Exploration Well

The 'Stena Tay' drill rig drilled Sotto-1 ST1 to a final total depth of 3,279
metres.

At midnight on 22 August 2005, preparations were underway to commence wireline
logging. Logs and other data acquired while drilling suggest that the well has
not encountered any significant hydrocarbons.

Following completion of wireline logging, it is expected that the Sotto-1 ST1
well will be plugged and abandoned as a dry hole. Premier's equity in this well
was 4.62%.

The 'Stena Tay' will then move to the Espadon-1 exploration well in PSC Area B.

Chinguetti Development Wells

The 'West Navigator' drillship continues to perform completion work on
Chinguetti Development wells.

Exploration Programme

Joint Venture Participants have approved the drilling of four exploration wells
subsequent to Sotto. These are Espadon-1, Tevet-2, Labeidna-1 and Colin-1.
Tevet-2 will target a stratigraphically deeper reservoir than the Tevet-1
discovery well.

Pakistan

Jhangara Licence: Maliri-1 well

The Maliri-1 well was spudded on 12 August 2005 and is drilling ahead to a
planned target depth of 1,250 metres.

Gabon

Iris Marin Licence: Iboga-1 well

The Iboga-1 well was spudded on 19 August 2005 and is drilling ahead to a
planned target depth of 2,000 metres.

India

Jaipur Licence: Lakkhi-1 well

The well is currently operating at its planned target depth of 4,347 metres and
is being prepared for testing operations.



23 August 2005


Simon Lockett, Chief Executive of Premier, said:

'Following on from the two successful wells drilled this year in Mauritania
(Tiof-6) and Egypt (Al Amir-1) we are now commencing the most active exploration
programme Premier has undertaken. While the Sotto high risk/high reward well was
dry, it is adding significantly to our understanding of subsurface risks. We now
expect to drill a further ten exploration wells before the end of 2005 including
wells in India, Gabon, Indonesia, Egypt, Pakistan, Mauritania and the UK.'"

ho hum, not the end of the world...

Sterling has a mark down now they have repeated the RNS.

Hardly fair as it was not writen into the price imo.

Where's me tea, Woman.....?

And toast buttered both sides.

unch at the moment. SWW are you back in or looking for weakness to dip your toe in?

make mine strong no sugar please. any jam?

Erm yes..........

Tiptree Strawberry, I'm looking for weakness, and thismay do it, down 1/4p since yesterday.

relaxed in the paddock me....

i have to say that in light of the political uncertainty, a dry well and these still holding i would be surprised to see too much weakness. in fact i think any kind of good news could see these motor through 20.

SWW, you of all people know the potential but i am also acutely aware of the fact that everybody has their own risk appetite. i have always maintained in other stocks where there is uncertainty that i would buy on factual news and pay 10-20% more for that level of certainty. maybe it is the case here as well.

ultimately i truely believe this to be a takeover target in the next 12-24 months once the drilling program is more advanced. we may see 15p before then but equally we may see 25p. happy being a holder at this level right now with a considerable cushion from my average.

right now, if i were not a holder, i would probably average a quarter of my normal position size and average in some more on the way up or down. back the management....

next diatribe in an hour...

rgds
PT

Down .25 on the offer. At least Iboga 1 has spudded so lets see some action from Gabon at last. Now who mentioned a cuppa...

Just found this:

Sterling Energy Mauritania Deal Is Valuable

Tuesday, August 23, 2005 6:07:52 AM ET
Dow Jones Newswires



0958 GMT [Dow Jones] The value of Sterling Energy's (SEY.LN) unique position in Mauritania should not be underestimated, says Evolution Securities. Notes initial failure of the exploration programme in the region but points out that the well has been drilled at no cost to Sterling as its farm-out deal means costs were paid by Premier Oil (PMO.LN). Says the deal means "upside exposure without financial exposure." Feels Sterling Energy's shares look attractive and pegs target price of 32p. Maintains buy rating. Trades -1.3% at 19.5p. (DWE)

http://www.newratings.com/analyst_news/article_982068.html

Hello.

Nice breakfast and lunch.

Fantastic dinner although I think I have now eaten the last chicken.

Now I may well be back tomorrow, I have not seen the confirmation of normal services that I was looking for, but things are coming ontop now and I don't really want to be out.

I am also looking at AEX craefully and GBP. I am aware of recent deals in those areas.

If HNR drops a bit more I will track it and buy in at what I see as the low I already hold stock as my free carry there.

Nice bottle of Penfolds to round off the day.

Back tomorrow if you are really not very lucky.

Sleep tight.

Hardman dropped over 2% again in Oz, so it will happen here too. All that in the face of near record prices for oil again.

I'll watch today and see what happens when the inventory figures come in this afternoon, but I think Sterling may lose a bit more ground today.

Seems that Goldman's have reduced by about 1.3m.

http://www.companyannouncements.net/cgi-bin/articles/200508241521514521Q.html

Small potatos but nevertheless I am still out and still waiting.

It went down as I thought, more thoughts in the morning if I feel again inspired.

Hardman went up, so we dont follow the OPz market.

Huh!

Hurricane Katrina

Will again miss Sterling Energy assets in the Gulf of Mexico.

Other platfirms will not be so lucky.

Thunderhorse may be in the path still.

POO is over $67 again, look out for $70 this week.

well, in NY today for a short trip and checking in for the latest SEY news!

Hurricane Katrina...i fancy her.!