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

enjoy, i used to work in singapore so know your neck of the woods well. have a good beer, speak tomorrow...

Good rise today.

If it continues, your forecasts will be accurate.

ramraid,

I have added recently, SEY look a good bet to me

I wonder how high they can go, any guesses?

share trader,

my crystal ball is a little clouded at the moment, the one thing i would say is that being a trader myself, i am moving away from that process nowadays, this share is for holding, believe me if you do wish to trade it, just take some profit every couple of months or so, once it hits 20p + it will become very volatile, i've seen it so many times, it could lose 10% in a day easily and we panic, i've done it before, this time once it hits 20p i'm going to try my best to forget about it, we have to , it scares me what this could be trading at in 3 years, this could easily double every 3-4 months til then.the thing we have to remember is that high oil prices are here to stay now, if the supply line in Saudi is hit, we are all in the S***. Mass inflation, high interest rates, unemployment you name it, it will happen.The big players are all trying to reduce they're exposure to the middle east, it will take time, africa, canada, russia, antartica are the places to be, SEY have Africa, cheapest labour costs in the world and drilling starts in a month.

the worst case scenario for SEY in my opinion , is they get bought out for they're licences.the guys who run the company are all ex big noises at BP, they're not stupid, if your going to hold a risky stock, with no risk you have to have SEY.

ramraid, summed up beautifully.

i couldn't agree more. as said earlier in the post, take out some capital when they double and then keep them. there is nothing spivvy about SEY and management over the last year has proved itself by delivering results.

continuing to rise....

Loads of buys, price not reflecting that yet.

Cancel that, there She goes...............

HNR & JKX moving too.

Looks like a pattern I have seen before with the price, is it possible the MM are trying to hold this one back?

i think you may be right, look at the bid price, it's a lot lower than the buy, the swines want people to sell it cheap and then they'll sell it on at a fat premium. good news for us though.

All oil stocks moving nicely today.

seawallwalker,

Chart as requested.

macd signals steep upside from here. i know we are all talking our own book here but i am really confident about SEY...

proptrade,

I'm looking for it to finish higher than 15p, preferably with some volume.

SEY looks a decent long term hold, and the guys running this are a solid experienced team of ex BP people.

couldn't agree more. this is far far from a spivvy emerald and i have every confidence in management. even seems to me that this has bid target written all over it.

i think with the news and vol increase this story may creep into the sunday press. we shall see...

Thanks Andy.

Tells a story hey?

Don't know how it justified a drop back tofay on the strength of one sell of 225,000 when nearly all the rest were buys but there you go!

There's 'out so fickle as MM Folk.

Looks good for a steep upside as ypu say proptrade., agreed in respect of poss bid target, but if not no matter at all.

Lets see what Friday brings.

good to see were on the up again, would be great to end day at 15p, then hold it there next week, hopefully the odd favourable comment in the weekends financial press might help us to push on next week, we've done well this week over 10%, let's hope it continues.........

Good News,
just came upon this on the iii.co.uk discussion board posted today..

The following was on the RHPS weekly update circulated today:-

STERLING ENERGY (SEY): Thanks to its smart acquisition of Fusion, Sterling has an interest in 20 wells to be drilled offshore West Africa, commencing in August. And it is a 'carried interest' - which means that someone else pays for it, in return for a slice of any find. Sterling will also be drilling in the Gulf of Mexico. Any successful strike should propel the shares towards my 25p target. BUY

always nice. cheers for the news...

even better prop,


Sterling Eagerly Awaits The Start Of Its Negligible Cost 20-Well Drilling Programme Off West Africa

Sterling Energy is gearing up for the start of a 20-well drilling campaign in the waters off West Africa that could transform the fortunes of the AIM-listed explorer. Whats more the company, which at the back end of 2003 acquired Fusion Oil & Gas for 40 million, will pay virtually nothing for its exposure to high impact wells in Mauritania, Guinea Bissau and Gabon because Fusion had negotiated free carries from its partner companies. No other company has the exposure to that many wells in Africa for so little cost, Sterlings chief executive Harry Wilson told oilbarrel.com last month. The real prize lies in the deepwaters off Mauritania, where Sterling now has a stake in one of the most promising deepwater oil plays to be found anywhere on the planet. To date, the Woodside-led joint venture in Mauritania has clocked up a 100 per cent strike rate in the Miocene sands and sanctioned the development of the Chinguetti oilfield. Sterling timed its Fusion strike just right: since the Fusion deal was declared unconditional in early December 2003, the Chinguetti field has been declared commercial and the joint venture struck pay dirt with the Tiof-1 and Tiof West wells which, early numbers appear to indicate, could dwarf Chinguetti. The first well in Mauritanian waters is due to spud in August. As Richard OToole, Sterlings chairman, told investors last month, the upcoming drilling programme could have a material impact on the value of the company.

And it is not only in Africa that things look promising: Sterlings Gulf of Mexico properties continue to exceed expectations. Since year end the proven and probable reserves have doubled and there has been a ten-fold increase in production revenues. This improvement was largely the result of a US$39.5 million acquisition of Osprey Petroleum Partners in February 2004, which bought the company increased exposure to the buoyant US gas market. Sterling has lined up a development drilling programme of at least six wells with the aim of more than doubling production over the next year from its current tally of 11 million cubic feet per day. The first well, High Island A68, is due to spud next week, the company said in a statement.
Sterling has firmed up its financial position since last year, reversing the 98,000 loss it posted in 2002 to report a pre-tax profit of 1.8 million for the full year 2003. Turnover rose from 0.6 million to 5.5 million in a year that OToole said exceeds all our expectations in terms of growth and future prospects. With the 2004 multi-well drilling campaign about to kick off, there are hopes that the next 12 months will prove even more successful
this from todays oilbarrel.com