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

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..........

It says briefly,

GoM not too badly hit
Mauritania coup seems OK
TEA for Ibekelia licence signed with Gabon for 673km2 contiguous with SEY's Marin licences
However . .
Iris Iboga Marin No 1 area only contained water

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. SELL.

The motivation is clear - let's keep our average score high. TB has been talking about wanting to clear out some of his accumulated holdings to make room for new, etc, etc . . . .

But SEY's interest in Marin is about 2% isn't it? I see no fundamental shift in the company's values. The oil price being near a peak is not very relevant - a) the average price is still at least 50% ahead of where we all bought into SEY for many years to come, b) who would dare call a peak in the light of Goldman Sachs reports, use of SPR etc?

Did TB jump or was he pushed? Highly irritating, or is it a buying opportunity?

As you say, it's all PI's - probably RHPS subscribers bailing. I subscribe, but have not sold. Looking forward to this time next year.

sd

giggin,
SEY, for me, is a play for 2006 and the start of the oil flow from Chinguetti. My only problem was that I first bought in 2004 and at a price somewhere north of here. LOL

morning team. nobody panic!

nothing like a bit of weakness to shake the tree. positive news takes these back to 20 and that may be the spiel you guys have been chatting about above.

that RHPS (or whatever) comment is one persons view. all these moronic pundits need something to say every day and they present one side of an argument. RED HOT LIST - how PATHETIC is that! i have a red hot list and Sterling is still on it.

i have to say i bought my first issue of SHARES last week because i heard there was an article about CSB.

my view: the CSB article was inaccurate and had 3 glaring errors where they clearly had not fully researched the issues involved. The Dividend lead article was OK but basic. BUT guys, there was one article about what some 16 year old had in his portfolio and what a "broker" thought of his picks. I WAS EMBARRASSED to read this, i mean i wasnt professional opinion not some geeky page fillers about what aunty ethal has in her portfolio.

If these mags and pundits want money top back their views then don't patronise the reader and at the veryt least halve the size of the publication and quadruple the quality.

rant over. i am now back in my box.

rgds
PT

Pond Life / proptrade,
I agree, Shares magazine have to fill pages every week and frankly, the losers I hold were all tips in Shares Mag ie CBF, the first share I bought when I first started investing. The best tipsters I have found is Mommentum Investor- their portfolio is all in profit apart from 1 recent buy.

If a Military Coup and Hurricane Katrina cant dent the sp then it has to be worth holding.

Looking forward to next year.

regards
Giggin

Well done team.

I see the sp is returning up after the ealy sells, silly lot weren't they?

proptrade,

I fully agree, and quite sad to see the small investors piling out of SEY this morning on the back of the RHPS "sell" recommendation!

I fully expect them to rue their sell decision in due course.

With regard to Shares magazine, the journos DO make errors, as do those at Investor's Chronicle, becuase their "articles" are in fact a rehash of information given to them by a company's PR guys, who probably have no idea about the company, and they are re hashing information given to them by the company.

aNDY, SO TRUE...it just annoys me that a mag called SHARES, aimed at the private investor is just so wishy-washy. look at the economist, the FT, or the Sun..each caters for its own type of reader.

18.5 bid, EVO leading the charge. they were even choice for a few minutes. as i write they are now 19.25 offered!

Looks as if a few red hot penny punters have been mugged right now!

Well, well, well - SEY has just turned blue. Please cancel your subscriptions to RHPS. Seriously, though, this is an object lesson in how tip sheets can move markets.
Many years ago, prior to the great crash of 1987 when I was just a lad, the game was to try to predict what was going to come up in the next edition of Penny Share Monthly and then hope to buy the shares before the tip appeared - and then sell when the price shot up. I wonder if any of the MMs have and shares in RHPS?

Congrats to anyone who bought more this morning - what a golden trading opportunity.

as a MM in the mid 90's and having some smaller companies on my book it was a cash dream every friday morning. IC came out, we marked up or down the stocks depending on the call. bought or shorted to are hearts content and then marked them back by wednesday next week, just in time for it all to begin again on friday. totally ethical, totally legal and totally profitable.

NEVER NEVER NEVER play follow my leader on tips. ALWAYS formulate your own view, your own entry and exit levels and most importantly BE DISCIPLINED about those levels. I am not saying you won't go wrong but it will mean you won't end up with a 20 stock portfolio of crap stocks trading 40% below your entry price.

once again i will apologise for my ranting!
rgds
PT