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

Gav,

Yes total world oil consumption is around 82 million BOO per day, and the USA consumes 25%, as you say, 20 million BOPD.

They cannot reasonably release any more IMO as they are now down to 10 days consumption.



SWW,

Many thanks for posting that!

SWW, really well spotted.

relatively good day today. CSB is a real winner...

Ramper.

LOL. hand up, i have no defence.

So much for Arsenal thumping Thun then!

SWW, good find re the Gabon post, cheers.

Down a tick.

Limps along just the same as usual.

Really could do with Stelring saying something really good like;

"We are confident that Woodside are picking duff targets on purpose just to find the extremities of the licences in Mauritania. Whilst we do not approve of the targets, as we have a free carry, we really can't grumble. There will come a time shortly when they have to return to the meat in the sandwich, and make a meal of it."

Lol!! L2 not looking great right now.

From PMO's results today:

"On the Themis Marin licence, we have acquired additional 3D seismic data that
will be used to work up prospects for drilling in the 1st-2nd quarter of 2006
(Premier equity 18 per cent)."

So that won't be drilled until next year then.

Andy,

Had a look into the size of the SPR, it seems from OPEC's Sept monthly report that it holds around 700mb at full capacity and at 9th Sept it currently holds 699.2mb. The figures are taken from the PDF. Worth a look if anyone's interested.

During August 2005, the Strategic Petroleum Reserve (SPR) reached its full capacity,
standing at 700.5 mb, after a gain of 2.3 mb. This level is expected to see a drawdown of
30 mb during next month as part of a rescue plan announced by the IEA to compensate for
barrels lost to Hurricane Katrina. The draw could be higher if US refiners take part in a loan
programme of about 10 mb which was announced by the US administration on the wake of
hurricane damages.
further to 6% and 7% respectively compared with end-July levels.
Table 19: US onland commercial petroleum stocks, mb*
Change
1 Jul 05 29 Jul 05 2 Sep 05 August/July 2 Sep 04 9 Sep 05**
Crude oil (excl. SPR) 324.9 318.0 315.0 -3.0 278.5 308.4
Gasoline 215.3 205.2 190.1 -15.1 208.1 192.0
Distillate fuel 117.2 127.3 134.4 7.1 130.5 133.3
Residual fuel oil 37.5 36.2 32.3 -3.9 37.1 32.3
Jet fuel 41.2 40.1 39.4 -0.7 41.8 39.2
Total 1,015.5 1,021.50 1,009.60 -11.9 984.7 1,005.5
SPR 696.3 698.2 700.5 2.3 669.0 699.2

http://www.opec.org/home/Monthly%20Oil%20Market%20Reports/2005/pdf/MR092005.pdf

Anyone think that the Gabon license deal above, is price sensitive or is it just me being mistaken?

No thoughts hey gang?

My thought is yes it is, and they are hanging it out till next week.

I am emailing them to find out why?

I will say, "Why?".

Why?

Now that's a very good question.

Whats the odds on no answer?

Now then, one other point before closing - Energy Africa is owned by Tullow Oil.

Thats all folks!!

RHPS sell rec on SEY yesterday and today the sky seems to have fallen in as they all jump ship. Sell after sell after sell. Do I smell a conspiracy here? Why jump ship when we are so close to results and so close to our first oil? Does someone want the stock?

All O trades, what do you think?

Sterling is having its own witching.....................

It's all private investors who subscribe to RHPS bailing out in unison. I think that I have clocked just one single buy going through so far. L2 is 1 x 1 and looking very weak. I would hope / expect that the MMs will have someone lined up to take the stock. This close to results? Would welcome any RHPS subscriber letting us know what they have said.

Thanks to KM1966

Here is the recomendation from RHPS.

STERLING ENERGY (SEY): Sterling has given an update of
its various activities. In the Gulf of Mexico it has
been let off quite lightly by Hurricane Katrina, but
had to close one of its platforms, responsible for 20%
of Sterlings production for 5 days. In Mauritania
operations continue as normal despite the change of
government. Sterling has signed a Technical Evaluation
Agreement for the Ibekelia licence with the Gabonese
government, and covers an area of 673km2 contiguous
with the Gamba and Olowi oil fields and Sterling's
existing Themis Marin and Iris Marin licences.

However, drilling in the Iris Iboga Marin No 1 area
encountered only water bearing sandstones. Premier Oil
and Hardman have also recently announced disappointing
drilling results from Mauritania, an area in which
Sterling has high hopes. Expectations are high for
Sterling, and it cannot afford to disappoint. So after
nearly three years in the Red Hot list, and with the
oil price probably near a temporary high, it is time to
take our 257% profit

You beat me to it Dr Square.

Pond Life
Rhps say sell due to the recent dry well.I am holding as this isnt there only field and the results are so close.

Dont know if this slide show will work, if it does great, if not I'll play with it later.

Gabon off shore

No.

I said I would do it later..........