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

gavdfc

go to the link below and register but do not register as a private invester then you will have access to all company notes.

http://www.uk.evosecurities.com/home/home.aspx

Basically a rehash of the interims with the following final comments:-

1) Chinguetti on stream will make 2005 numbers pale into insignificance.

2) SP underpinned by NAV of 19p with oil at $35pbl - at $50pbl NAV is 26p

Strangely target is still only 32p.

Hold tight for great rewards next year.

sd

Stockdog, EVO's target of 32p is based on an oil price of $35 at $50 they give a value of 50p. Oil is sticking above $60 currently so that $50 value looks good to me. At 50p per share or anything like it, I'll be buying myself a new pond!

Me - I'll be buying myself a new Life!

Sterling Energy which has gas production facilities in the Gulf will drop in the midst of damages done by Hurricane Katrina and Rita and possibly more hurricanes to come...Sell

It (company and SP) has survived Katrina. Rita seems more of a direct hit on operations nearer the Texan coast, but has she not abated somewhat over the last 24 hours?

hlyeo98 - something evidential to go on or is that just how you feel?

ee on tmf says, "SEY have a couple of blocks [52/53] in the High Island area. According to the actual track of Rita [as shown on Rigzone], Rita's track was about 40 miles east of those blocks.....so damage is quite possible.

OTOH it looks like their more important[?] Matagorda blocks escaped completely.

Onshore it would seem that refinery damage may be more limited than feared? Only these seem likely to be hit hard:"

Well, that's the prospect, but what is the reality?

Bearing in mind the storm decreased to Cat 3 which is 120mph winds I would say there a possibilty, and then of course have they coped with the surge?

Find out in next weeks thrilling episode.

Remember, anything may or may not happen including nothing.

Pessimist or optomist, what will I be today?

SWW

Not that I know anything about anything but if the Rita passed to the East of High Island then the winds on the west side of Rita would be slightly weaker.

But as you say see next week.

Could be worse could be shells contracted rig the one that keeps going walk about by itself

http://www.rigzone.com/news/article.asp?a_id=25508

Hate posting twice in a row

Nice RNS out sounds very promising

and very nice write up on Oil Barrel note more to come on damage assesment today.

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:112770000009&feed=oilbarrel_en

Regards

thought i would post the RNS considering that is the reason for the 4% rise today!

rgds
PT

Hardman Resources Limited
26 September 2005

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 26 September 2005

AUSTRALIAN CONTACT: Simon Potter
Hardman Resources Ltd
+61 8 9261 7600

LONDON CONTACT: Patrick Handley
Brunswick Group
+44 207 404 5959

RE: MAURITANIA DRILLING PROGRAMME
TEVET-2 APPRAISAL WELL UPDATE

Hardman Resources Limited ('Hardman') provides the following progress report on
the Mauritania offshore drilling programme:

PSC B: Tevet-2 Appraisal/ Exploration Well

Progress and Current Status:
Since the last report on 20 September 2005 the Tevet-2 well has been drilled by
the 'Stena Tay' rig to a depth of 2,785 metres, the base of the Miocene channel
sand appraisal objective.

Preliminary analysis of drilling and wireline logging data indicates that the
well has encountered gas and oil bearing sands of similar thicknesses to those
at the Tevet-1 discovery well. A full wireline programme is currently underway
and when this programme is more advanced we will comment on the significance of
the oil pay encountered.

Well Location and Objectives:
The Tevet-2 well is located 2.5 kilometres to the south of the discovery well
Tevet-1, and lies in a water depth of 466 metres. The well is a combined
appraisal and exploration well; it is designed to appraise the Tevet Miocene oil
discovery and also to target a deeper Cretaceous exploration prospect. The
planned total depth of the well is approximately 3,965 metres.

Hardman interests in PSC's A, B and the Chinguetti field are:

PSC B PSC A Chinguetti Field (EEA)
Woodside (operator) 53.846% 53.846% 47.384%
Hardman 21.6% 24.3% 19.008%
BG Group 11.63% 13.084% 10.234%
Fusion/Premier 9.231% 4.615% 8.123%
ROC 3.693% 4.155% 3.250%
Groupe Projet Chinguetti - - 12.000%


All reported depths (except water depth) are referenced to the rig rotary table
(RT). Hydrocarbon shows will be only be reported after all required logs have
been run and evaluated, although Hardman will release weekly updates on the
exploration drilling campaign.

Times and dates refer to GMT (Mauritania time), 8 hours behind Western Standard
Time, Perth.

prop,

Thanks, nice start to the week!

All we need now is confirmation that SEY's facilities are all ok in the GOM, and maybe we can challenge the 20p resistance level again.

i agree...bullish announcement always help!

5000 posts

5000 posts

5000 posts!

and on page 250.............

must be a message there?

Mmmm maybe SEY on its way to 2.50?

Well divide 5000 by 250 and what do you get?

Forget 20p, I'm looking for breaking 20.75p, treating the last 8 weeks (almost to the day) as a continuation, downward-sloping flag, Andy!

Nice to get news of some oil after a couple of dry holes. OilBarrell was a great report - thanks DrXDr. Just need the all clear in GOM for a nice hattrick to start the week off properly.

sd