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

I picked this up from the Premier Oil news link. Strangely it hasn't featured on SEY. Pick the bones out of this one........

LONDON (AFX) - Roc Oil Co Ltd said the reservoir sand it found at the second exploration well it is digging off the coast of Mauritania has been 'less than expected', a discovery that can affect the production potentials of the site.
The well, known as Tevet-2, is appraising whether the Tevet-1 oil find can be commercially developed.
'Whilst the hydrocarbon sands are of a similar thickness to those discovered in the Tevet-1 well, the amount of reservoir sand is less than expected,' said Roc Oil, quoting a statement from operator Woodside Petroleum Ltd.
Kevin Hird, Roc Oil's general manager for business development, told AFX News in a phone interview the news will certainly have an effect on the prospects of the well.
'But whether it will be material or not is not yet understood... But I don't think (the impact) will be significantly material,' he said.
He added that further studies will be needed to assess the latest drilling results.
A decision whether to proceed with the development of the site will be known before the end of the year, he said.
Tevet-2 will be drilled up to depth of 3,965 metres, deeper than the first well which was dug up to 2,715 metres.
Tevet, which is near the giant Chinguetti oilfield, is the first of the consortium's 100 mln usd exploration work plan in Mauritania where it is aiming for 1.3 mln barrels in six new prospects following the Chinguetti find.
Woodside owns a little over 50 pct of Tevet, while Roc Oil holds around 4 pct. Other companies involved in the project include Hardman Resources, BG Group and Premier Oil.


ROC, Premier and Hardman all traded down today and SEY pulled back from the day's highs with the bid actually finishing down a touch. A few loose words from your man at ROC has cost people money. How to turn good news into bad with just a flick of the tongue!

ROC the pesimists, Woodside the bullies, Hardman the optimist, Sterling piggy in the middle.

Either way it's a free carry not yet in the SP.

In my own inexpert view, and looking at Hardman's August brochure, the gas and oil bearing sandstones penetrated at 37 odd metres is clearly a continuation of Tevet 1 and therefore proof of an extension of the field in the direction that they thought it did.

How can it be uncommercial?

Tevet 1 has not yet been declared commercial but they did say on that find that it was within tie back to Chinguetti, again in my inexpert view, Roc are blowing hot air based on nothing.

".........But I don't think (the impact) will be significantly material,' he said.

Correct!

When the evidence is there to see, we will know what is going on.

Till then John Doran and his henchmen should shut up!

I'm not angry..........

I'm NOT angry........

I'm not ANGRY..............

I'm .........

Err.... livid?

SWW - don't panic.

Nam

Sterling had 4 platforms in the path of Hurricane Rita which prior to hitting the shore was cat5.

Rita's Rigs?

(Posted over the other side).

X trade for 40m just gone through at 20p.

Cross at same price........... means nowt to me, are they like an exchange stock for stock or what?

What ever it is it took a 1/2p off the bid.

nothing to do with the half p move, probably just a swithching of accounts...

Alpparently an x trade is a good sign.

That'll do........

But what exactly is the 'X' trade... cos it's a lot of shares ! Anyone know any details ? Thanks in advance.

'X' Cross at the Same Price
A transaction was effected as an agency cross or a riskless principal transaction at the same price and on the same terms (this requires one trade report).

And we are all the wiser for that explanation, I'm sure. Translation anyone?

sd

guys, Westmount energy sold their stock directly to Invesco. Oriel Securities crossed the stock from the seller to the buyer and showed it as such to the market. can't be simpler than that!

rgds
PT

That's simple.

Have not looked for the figures but Invesco must own a really huge wad by now.

enormous wad.

Amvescap bought the 40million they now hold 21.47%.

Good to see Amvescap add another 40m to their already substantial holding. That's just shy of 300m they now hold.

Article on Reuters SA yesterday about Madagascar, SEY get mentioned. Old news but nice to get mentioned along side the majors

"Madagascar, located off the southeast coast of Africa, is known to have oil and gas reserves, but they are inadequately mapped and drilling there is only at an exploratory stage.

However, interest from the oil giants is growing rapidly, spurred by record highs in world oil prices, which last month breached $70 a barrel.

A promising seismic study conducted in 2004 by privately held U.S. exploration company Vanco Energy has also generated a rush of interest.

In July, US oil major Exxon Mobil boosted its oil and gas presence in Madagascar by taking a 70 percent interest in two licences held by small UK-listed oil explorer Sterling Energy."

http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-09-29T143009Z_01_ALL952261_RTRIDST_0_OZABS-ENERGY-MADAGASCAR-20050929.XML&archived=False