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

Nothing to worry about today. Did anyone spot that late buy mopping up all today's loose stock? Another 2.8 million shares now in safe hands.

Pond life,

Yes I did.

Article here talking about some Chinese majors looking to form some joint ventures in Madagascar. Very briefly mentions the SEY/Exxon deal.

"HONG KONG (Dow Jones)--Chinese oil majors are looking at forming upstream joint ventures in Madagascar to exploit newly discovered reserves on the island situated off Africa's east coast, says a senior official at Madagascar Oil S.A.

More than one Chinese oil firm has approached Madagascar Oil about the possibility of cooperating in oil exploration and taking a stake in the company, which was founded in 2004 and is eyeing a listing in London in the second quarter next year, said the official who asked not to be named.

"They (the Chinese companies) have very deep pockets. I prefer to work with them on the heavy oil projects because those are very capital intensive," the person said, but declined to name the Chinese companies that are in talks with the African oil company.

ExxonMobil Corp. (XOM), Sterling Energy PLC (SEY.LN) and Aminex PLC (AEX.DB) have already formed joint ventures with local partners since 2001 to develop oilfields on the island and offshore. Madagascar is expected to produce its first barrel of crude in 2007."

http://sg.biz.yahoo.com/051116/15/3wk27.html

Drifting, drifting.

Nam

Update on Labeinda-1 out.

PSC Area B: Labeidna-1 Exploration Well

The Labeidna-1 wireline logging and sampling programme and an initial evaluation
has been completed. The well is currently being plugged and abandoned as
planned.

As previously reported, the initial wireline and drilling data indicated that
the well intersected oil in the Miocene sand objective within a number of thin
sands interbedded with shales. This provided sufficient encouragement to
proceed with further wireline logging including acquisition of pressure and
sample data and high resolution logs necessary to better define which of these
interbedded units has adequate reservoir characteristics.

The logging and sampling programme has now been completed and the pressure data
indicates the oil is in two separate accumulations over a total column in the
well of approximately 120 metres. The high resolution logs and subsequent
reinterpretation of the 3D seismic data suggest the oil is reservoired in
channel margin or overbank sands. A sidetrack targeting interpreted channel
sands was considered but would not reach far enough to test interpreted thicker
and better developed reservoir. A separate appraisal well would more adequately
evaluate the discovery.

Labeidna-1 was drilled to a total depth of 3,080 metres and is located
approximately 15 kilometres to the south west of Chinguetti in 1,261 metres of
water.

Hardman's CEO Mr Simon Potter commented:

'This represents another discovery in the Chinguetti-Banda channel system. While
it is unlikely to be commercial at the Labeidna-1 location appraisal is required
to evaluate the commercial significance of this discovery. It's not unusual to
have reservoirs thin onto a salt diapir and our interpretation of the well and
seismic results is that thicker channel sands are located downdip and adjacent
to the discovery well. Our experience from the development drilling on the
nearby Chinguetti Field is that once we have a well to calibrate the 3D there is
a high chance of success in locating better reservoir channel sands in
subsequent sidetracks or new wells. This is within tieback distance to the
Chinguetti Field.'

This is better.

So much for ROC's previous dampener.

Indeed, a bit of good news to end the week on.

So now Stenna Tay moves on to Faucon.

This has no beneficial interest to Sterling.

Shame on you all who hold.

Nothing.

So nothing has happened to report on?

Hardman pushing P10 for ching to 180 million barrels up from 140 million.

Banda looks very close to being developed.

Labeinda looks very good just need to hit it.

second development to Ching scheduled for September 2006???

regards

Hi there Square,
'second development...' whats that about?
agree Lebeidna, its a tie in to chinguetti if it is drilled again and ends up being production. 20-30Metres of crude /gas seem very likely, the next drill ( late 2006 might get slotted in, is that what you are referring to?) will be updip and a few hundreds of metres away, will give very good chance of success indeed.
-meanwhile, look forward to Ching production in Feb, by when the current sp will be a thing of the past
Regds
H.

Thought I might sell a few mil to gee-up the environs a bit. Has it worked yet?

Nam

Hectorp didn`t now you posted over here, Thought i`d post over here for a change as it had become quite on the thread.

The second development thing will post on the other board as well. I don`t know myself searching for information. But on page 23 I believe, of Hardmans recent agm statement future operations Big Black box with Ching phase 2 September 2006

http://www.hdr.com.au/documents/news/00374_ASX_285896_24_November_2005_Annual_Gernal_Meeting_Presentation.pdf

Now Hardman have already said chings maximum output will last for 2 years no need to drill anymore wells. The Berge Helene only has capacity for 75,000 barrels per day I believe would welcome being corrected. So the only thing i can think of is a tie back? Either Tevet or Lebeidna,. Now we know these can be tied back would the time scale be about right for maintance schedules on ching say on wells that had been in production for a year?

But anyones answer would be as good as mine.

regards

Dr Square,

Well a nice rise today, and Hardman fell, so maybe some good SEY related news on the way, unconnected to Chinguetti?

A nice finish to the week.

Dr Square, Andy,
I dont usually post here but there is a decent thread so I'll start looking in once a week or so. I think a lot more peple are using Money-AM I like to monitor my portfolios in here.
have a good weekend
H.

Hectorp,

Good to see you here, MAM has less posts but they are generally more focussed and on topic than over the road, and they don't tolerate personal abuse here.

Do you have any ideas what caused the increase on Friday?

RNS from Forum this morning, declaration of commerciallity on the Libertad gas field.

"Forum Energy, the UK energy group with gas, oil and coal assets in the
Philippines, together with the Department of Energy in the Philippines, today
declared commercial the Libertad gas field on the island of Cebu.

The Company is currently in discussions to utilise the gas for local electricity
generation, in line with a Philippine government directive to increase the use
of natural gas, and expects to generate up to 2 MW of electricity from the gas
produced.

Generation is expected to commence next year following a $2.5 million
development programme of the field and generation units."

http://www.companyannouncements.net/cgi-bin/articles/200511300700438757U.html

If anyone's interested, new research note from Edison's on FEP from the 28th Nov on their website.

http://www.forumenergyplc.com/downloads/Forum251105v3.pdf

Off topic
===========

Any FOGL holders here?

If so, please see my post on the FOGL thread.

Harrys on the prowl?

http://www.rigzone.com/t.asp?l=419362&m=238207

regards

Doc,

Good find, cheers.