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

Gosh, what you lot doing to the stock market this morning.

Sterling at 16.75P ????

Time to buy some more.

Well done.

Just had a chat with my Stockbroker - there is noithing going on that we don't know of as far as they know.

Energy stocks are generally down across the board.

That being the case I have had some at 16.5p.

If it drops some more, I have more, but that looks like bottom.........(today?)

If goes lower, I will buy at every penny it drops from here on in.

i just tesated the water and sold some stock at 16.5 with a view to buy back...support at that level but this is market wide jitters...

Yes prop.

As I had sold out before this (around 6 months?), is like taking candy from a baby for me, and in fact I am doing the reverse of you, I am sure you had some at much cheaper than that so you can afford to play a bit.

Glad like heck I sold Hardman though, single exposure lets me sleep last night.

The spread is widening out so I think that's all today...........

I'll look back in later.

Some buyers entering the fray...........

I reckon it'll bounce soon.



all imo etc.

Offer 17p, a hike up any moment now I think.........

I'm begining to think you have all left the room.

So be it.
Jus' me and the Institutions.............

Sww,

i'm around, but only in the evenings this week.

Bloodbath today, what's spooking the market?

SWW, I'm still here... Ive just taken my head out of the bucket of sand to have a look.

lol

Andy, I can only think that this is World Market driven.

The release of the strategic reserves in the USA a couple of weeks back prompted the decline, and the importation of EU reserves has not helped, but.................

That is not the end.

These reserves need replacing.

Gas continues to rise although I think it needs to stop soon or it will promote it's own problems.

These stocks will all recover in the short to mid term, there really are no problems.

I say this without due authority, but it is clear to me all will retun as it was.

Personally, I do not like to see oil over $60 a barrel.

It could lead to recession imo.

Keep it between $45 and $60 and we will all be happy.

I think I am, losing it now so time for bed.

So it's me, goal, Andy and the Institutons for tomorrow.

That'll do.

:-) & its a good night from me.

I'm still with it but boy have I had a good thrashing this last couple of weeks. I am 100% into oils and miners - nuff said. Plans for my early retirement have been shelved for the time being - back to work.

Bid for Paladin. 28% higher

Still here but not got so much time right now to post as much. Has been a tough run for of late for me as it has for many others no doubt. The PLR bid has certainly put a bit of excitment into the sector this morning, especially for the mid-caps. The North Sea types, DNX, TLW and VPC etc all up around 8% or so this morning. Still, that only makes up for some of the recent falls, but interesting times indeed for the sector as a whole. Lets hope it continues!

Amvescap add another 3.76m. They now hold 22.20% or 309,444,672.

http://www.companyannouncements.net/cgi-bin/articles/20051020104500Z3311.html

Looks like a good buying opportunity but a few questions:
1. Was SEY affected by Hurricane's Katrina or Rita.
2. Will SEY be affected by Hurricane Wilma? It looks 'kin huge.
3. What is normal PE for oil sector.
Any response appreciated, thanks.

High Andy,
For SEY the GOM is now a bit of a side show, so I wouldn't worry about the storms. The real value lies in Chinguetti where the oil and the cash will start to flow early next year. SEY should be bought out by then.
In answer to your questions, SEY's own kit suffered nil or minimal damage, but as I understand it, production has been shut in for approx three months due to problems on land. Wilma is going to hit Florida not the Texas coast - it should miss SEY's kit by a long way. Normal PE for ther oil sector? Couldn't say, but have a look at BP or Shell for an idea. This business is all about future prospects and in the small and mid cap e&p sector things can change very rapidly. Makes life exciting, does it not?

You are probably right prop, concerning LGB.

This looks to be recovering a bit, but is lagging behind the sector recovery.

Sterling are tipped in Shares today as a likely takeover target along with Tullow, Premier, but............ no mention of Palladin.

With the latest addition to Amvescap, there has to be something in the wind.

Now interesting to note that yesterday Amvescap's near 4 million buy was reported at 16.25p, which is cheaper than I got at bottom, and reported as a sell at 11.15am.

Probably a sell report of that size will have paniced a few more into selling and there was an auction pick up now repotred as a buy for 15.97p yesterday at the end of trading for 250k.

I don't know what others are doing, but I have added some more and nearly have my old holding back in numbers and do not intend to move from this spot till, er well, I don't know.

Production or a buy out I suppose.

If no buyer emerges before production from Chinguetti, I may shift a few out again dependent on the price at that time as I would expect a euphoric rise on the day they start pumping.

Thanks, had this on my watchlist a while ago and saw recent drop but don't haver time to read all posts, one last question Is the fall in HNR due to any bad news in Mauritania and if so will it affect SEY?