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

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."

Right then, no need for applause, I just can't help it.

The news.

Eugene, well we knew that.

Espadon, always a high risk trying to find out how far any lead goes, not really a surprise, just as well Tevet 2 is next, much less chance of failure there I reckon.

Gabon? Perhaps this is why they farmed it out to some gullible oil explorer. Well done.

Next come the results and Tevet 2 before the end of the month.

Hi SWW

Thread appears to have gone a little off the boil since the earlier contretemps with our Hilary.

At least SP is now reasonably steady and appears to be able to weather the weather.

Look forward to early 2006.

Nam

Agreed namreh3.

Still, I am now in the mood to perform some mind bending tricks, so watch what I am going to do to Tevet2.

I am in the process of moving all the oil from Chinguetti to the Tevet2 site using the power of thought, so that this blows the minds of the drilling team whn they find it.

I'll only get found out when they try to pump from Chinguetti and find ice cream and raspberry sauce with choc chips.

Wont that be a surprise?

Absolutely. It should be sprinkles with raspberry sauce!

Nam

Good news getting official confirmation re business as usual in Mauritania. Pity about the dry hole at Iris Marin. Noticed the big T trade for 3.5m at 19.30 after the close.

SWW, Whatever stuff you are sniffing, can you send some over to me? After a day like today I could use a magic mushroom or three.

7.7m sells and the SP drops 0.25p - pretty resilient IMHO.

Stockdog - they weren't all sells. That last trade of 3.5 million was someone sweeping up most of the sells during the day. Alot of other trades shown as sells were in fact buys - check out the prices and you will see that the MMs were operating at the lower end of the spread today.

I can confirm the buys reported as sells, I did a few funny ones during the day just to keep the mm on thier toes which confirmed it.

I then got a visit from the Men in Suits and had to stop.

I hate pink!

SWW, you are reverting to the "mad old ways!". good to have you back!

Don't know what you are on about prop, any way..................

Here is the prediction for the sp over the next coupl,ke of weekdss heading towards the interims.

The price has dropped, doubt it will go much lower, this is a classic pattern just prior to results, when the mm have an excuse in this case two dusters,

The results are expected to be extremely encouraging, (by me at least).

When the results come out, I expect a sharp increase in price followed by a plateau while we head towards Chinguetti going into production, and Tiof being finally appraised as commercial, they will give us another rise.

Any more and we need a bit more luck than has been experinced lately with the drill bit.

All these dusters is nice but I have a draw full now, and don't need any more.

would you mind checking your crystal ball and tell me the score in the arsenal game tonight. cheers SWW!

in all honesty i think your observations are spot on. time will tell but i agree this retracement is temporary...

Surely Arsenal should thump Thun, even without Henry.

As far as this retracement goes, lots of oils moving off their highs lately, so I see this as just a move along with the rest in a similar direction. No reason why we shouldn't really, especially after some dissapointing drilling results. Oil price has also eased back form it's highs of around $71 after Katrina to where it is just now. Nothing to panic about IMO, agree the retracement in the overall sector is temporary.

If releasing strategic reserves is the reason for the drift across the sector, then when the reserves are refilled will cause the same shortage as before, not that I am in favour of overly high oil prices.

I do not want the market for oils dried because oilies have upped the price too high, the greedy bu**ers.

$70 will do for the next few years.

Now then time to go cook dinner.

Don't do anything daft while I am gone, leave that to me.