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

A grand a month's a bit out of my league, especially over 2 years! I thought Reuters terminals were cheaper? Anyway, I'll be happy when I get a new pc with a few monitors, this ones about had it.

Back to SEY, was in touch with the company last week re possible damage from katrina and heard back from them today. Eugene Island 268 was shut in from Aug 26 to 31. Total lost production was 19,200 Mcf (gross) 8,640 Mcf (Sterling net), with no damage to the structure and the well was back up and running to full rate by Sept 2.

gavdfc - well dug! good news indeed, a pretty minor loss of output (which at least is still in the ground as value). Did they mention if they can off-load it onto the Loop or whatever they use? or can they store at the well head until other infrasctructure is up and running.

bought a computer yesterday for the kids from PC World. amazing deal, far better than dell which i normally buy (home/laptop and office). the deal is:

http://www.pcworld.co.uk/martprd/product/seo/034869

priced up dell with similar specs and they couldn't come close. Philips 17" monitor came with it. they can multi screen but i don't think my children will need it for trading! (yet!).

THx for the SEY update...

ps to those at MoneyAM, i don't work or earn comm from PC World!

rgds
PT

Are children truly the fourth estate because they are the fourth way to increase your wealth:-

1) earn more
2) spend less/save more
3) get a better return on your investments
4) teach someone else to work as hard as you and give you 15% of their income ever after

I'm buying my daugther a new computer for her birthday!

sd

indeed. i am starting them young, my eldest is just six and my other two are four and 7 months...a few quid a week adds up!

SD, cheers. No mention from them as to off-loading onto loop. All I asked them about was damage and loss of production. Agree that it was indeed a small loss of prod, especially considering what has happened to other platforms in the area. Shell's Mars platform springs to mind! As to children increasing your wealth, I don't have any so my costs are low!

PT, cheers for the pc link, looks like a decent price. Have been looking briefly at Dell's as people tell me they are a decent make at a good price adn they build to your spec. Was thinking of getting one purpose built, plenty of small companies seem to do that online. Will require further research!

Gav

I am pleased that Eugene is well.

I am back in.

Thanks Gav.

I should say it's a shadow of my former holding, however it will do for now.

gavdfc - there is what is known, if I remember rightly, a thing called a discontinuous curve on the graph with number of children on the x-axis and incremental wealth on the y-axis.

As you reduce the number of children, there is an almost linear decline in the additional wealth they can bring - until you get to zero, when the graph jumps to a hyperbolically upward curve off the positive end of the scale! You have been warned!

SWW, welcome back as a full member!

gav...i would love to see you get a better deal, i did quite a bit of homework!

SWW,

About time too!

Good to see you back in.

gavdfc

mind if I post the lost gas figures across on advf-n

regards

Doc, no problems.

SD, Lol!! Will keep that in mind! With all these axis's, curves and graphs, sounds a bit like economics back in my uni days! Or even worse, calculus!!!

Prop, I'm sure you did. Problem I find when looking for a pc with what I want, is deciding on whats the best deal and where to buy from, especially as I'm no expert on which components are the best etc. Eg - Dell online, PC world or get a system individually built for what I need. Also, who over the quickest backup service. Plenty of small local companies up here build to specific requirements so might take a look there.

RNS out, UBS have sold a few, about 4.9m ish. Still holding 3.99%.

http://www.companyannouncements.net/cgi-bin/articles/200509071701089812Q.html

Calculus - talking of a little stone(d) , reminiscent of my student days too (err, I think - can't remember)

Not surprised UBS have sold a few SEY - probably need something to buy into CHP with!

ROC are predicting costs to be $700m for Ching

http://www.rocoil.com.au/Pages/ASX_Releases/2005_Releases/September-2005.html

regards

There was a couple of good trades at the end of the day.

Looks like it will never breach 20p.

Hyleo,

I know how you feel, it's frustrating, but we have drill results expected soon, and Chinguetti startup in the not too distant future, so maybe our patience will be rewarded in the next few months?

If you allow for the military coup in Mauritania, and the uncertainty following the hurricane, I think the price has held up quite well.

3 days have passed quickly past.

No news.

God what a stock this is!

They say no news is good news, but I doubt it.

The longer it goes on the more I feel that Iris Iboga Marin No 1 well is dry and espadon is wet with water and no hyrocartbon shows having used wire line logs.

Mind you I expect that business is all in order with the Oil Ministry in Mauritania, all we need is confirmation.

A nice RNS would do it, come on SEY gives us the news.

Cor, talk about a premonition!!!!!!


"Sterling Energy PLC
13 September 2005



13 September 2005

STERLING ENERGY PLC

('Sterling' or 'the company')



ACTIVITY UPDATE



Sterling Energy, the AIM listed (symbol: SEY) independent oil & gas exploration
and production company, today provides an update of its global and corporate
activities.



Gulf of Mexico

The company has been only marginally impacted by Hurricane Katrina. One
platform, Eugene Island 268 which represents approximately 20% of Sterling's
production, was shut down for 5 days, and resumed production on 2 September
2005. The company's facilities in the western Gulf of Mexico were not affected
and production has continued without interruption.



Mauritania

Following the recent change of government in Mauritania, Sterling is able to
report that it is continuing its operations there as normal. The company has
held meetings with the new Minister for Energy and Petroleum and is confident
that it will be able to build on its existing contract with the government
relating to the offshore Chinguetti development, expected on-stream in the first
quarter of 2006.



Gabon

Sterling is pleased to announce that the company has signed a Technical
Evaluation Agreement for the Ibekelia licence. The agreement has been signed
with the Gabonese government and Sterling (40% interest & operator) The
agreement covers a 673 km2 area which is contiguous with the Gamba and Olowi oil
fields and Sterling's existing Themis Marin and Iris Marin licences. The
evaluation term is 12 months at the end of which there is an option to convert
to a full Production Sharing Agreement.



Having reached a depth of 2035 m, the Iris Iboga Marin No 1 well penetrated over
30 metres of excellent reservoir-quality sub-salt Gamba sandstones but
unfortunately these were water bearing. Accordingly the well is now being
plugged and abandoned. A further exploration well is scheduled in the Themis
Marin license commencing in 1st quarter of 2006. Sterling will again be carried
for most of its 20.57% working interest and will pay only 2.57% of the costs."