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

Oil stocks add to losses at close? Shurely shome mishtake>

qishhh

SW Sounds like 1996 Charonnay was a good choice.

lol!

I wish some of my stocks had similar "losses" lol!

No evidence of reservoir development and low RMM H/C to C5. Not looking very promising on this evidence.

Nam

SWW - at least the Chardonnay is a solid C2 producer - some consolation for rather meagre C1-C5 evidence on Tevet - lol!

sd

namreh3,

Maybe not, but don't forget SEY have a free carry on all these wells!

Others have expressed a different opinion, I await the next RNS for confirmation before jumping to a conclusion one way or the other.

Thanks Andy

Sensible and cautious. Veteran campaigner. Appreciated.

Nam

morning team SEY....can't decide about mkts at the moment. really want to get this week out the way and push on into November....

prop,

You and me both!

Friday may be bad if US puts up their rates, although I think the expectation of that is at least partly priced in now.

proptrade - I think the next few months will test whether our stock-picking has been any good. If so, our holdings should appear to rise above the crowd as the rest of the market sinks. Whether they actually make a profit, who can say.

sd

wise words on a sensible thread...

we may be OK but there is just a jittery feel still around. pick the winners and leave the crappy stocks is my hard and farst rule..

Someone had the jitters just before lunch, it appears. A double strawberry daiquiri should 'steady the buffs'.

Pip pip.

Nam

ps HNR seems to have firmed a tad on the news today. Perhaps oversold?

sector malaise....hold your water boys and girls!

Right about the CO2.

And methane.

I needt to be bottled and pressurised.

Can't stay, good to see some thread action here.

Reasons to be cheerful - Part One

Hi all. Remember this email from last June approximately?

Extract sent by Harry Wilson to me.

Firstly, we receive a discovery bonus from Premier of $2m for each new discovery over 50 million barrels declared commercial there are presently 3 potential field developments where this might apply Tiof, Tevet & Banda. Secondly, we receive from Premier a sliding scale royalty payment on 6% of the gross production taken out of the license (this will be reduced by the government back-in where we also have an interest). By way of example, the sliding scale royalty is $2.75 per barrel when oil price is $28 31 per barrel and $4.75 per barrel when oil price is $40 43 per barrel. This royalty payment comes to us without any costs apart from tax. So it is clearly in Sterlings interests to see as much drilling by the partners as possible in the license. I hope this is clear."

(The remainder of the mail asked after the wife and family plus a dinner invitation if I recall, or was that Tony Blair's?)

The 6% Premier Royalty payment mechanism is detailed below :

Oil Price / Royalty

< $16 $0.25
$16 - $19 $0.75
$25 - $28 $2.25
$34 - $37 $3.75
$43 - $46 $5.25


For every $3/bbl change in oil price, the royalty changes by $0.50/bbl. There is also a small esculation of the prices with time."

$49 = $5.75
$52 = $6.25
$55 = $6.75
$58 = $7.25
$62 = $7.75

From this deal alone assuming 75000 barrels of oil a day ( Hardman says up to 75000 b/d) for 365 days of the year assuming $45 per barrel which is OPEC's stated fair price I believe.............

so :- say it only produces an avarage of 50000 barrels per day,

50000 barrels at $5.25 for 365 days of the year, add the same again for the Mauritanian Government deal, (which is a guess, we have been told it is similar in structure to the Premier deal on royalties), how much does that make for this deal alone?

Now do the same calculations for 75000, (ever the optimist), and what do you get?

So, why do you think nearly 40% of this stock is owned by hedge funds and institutions?

Tell me I dont have a handle on this deal and explain why please.

You do have a giant crank SWW (allegedly), on SEY, just as Fundamentalist did a few years ago with DNX.

Keep the faith people. Look what happened to Brent Walker and Polly Peck (sorry - bad examples. Doh)

Nam

BP is upgraded today.

SWW - OK, OK, OK! I'm back in at 16.00p - too damn slow to get the 15.88 by about 10 secs. Still who's counting. Made a penny turn on selling out at 17.00p - every little helps.

sd

Namreh

What do you mean by having a giant crank?