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

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.

wow, 3 pages back.....all i did was go to NY for a few days!

ehats up with these?

rgds
PT

SETS trading as of today.

ORM just got re-rated

Ormonde Mining La Zarza Results Bolster

Monday, December 05, 2005

0904 GMT [Dow Jones] Ormonde Mining's (ORM.DB) results from La Zarza in southern Spain should support the stock, says Seymour Pierce. "We view this as a further positive step on the path to the development of La Zarza, and reiterate our buy recommendation on Ormonde with a 24p target price." Trades +3.7% at 9.9p. (DWE)

?

Nam

5% off thus far. Comments?

Nam

Down nearly 6% on low volume...

Down nearly 6% on low volume...

is it down 6% on low volume?

Up with HNR / DNX today. Nice little bounce from yesterday. My broker wouldn't quote me late yeaterday for SEY at any volume, so couldn't top-up again. Spoilsports. Was in at 16.38p though earlier. Timing good again. Things are looking up.

Happy hunting.

Nam

If they acheive everything, as planned in their update today, it should pass 50p next year ... IMO
http://moneyam.uk-wire.com/cgi-bin/articles/200512070700222456V.html

Well, we were asking for an update from the company and now we have one. To my untutored eye it looks excellent, but interestingly we have had a couple of very large transactions go through the market this morning - over 13 million shares dumped at 16p following which the bid has moved up to 16.75p. Somebody please try to convince me that these things are not pre-arranged (rigged?) or an I just a hopeless conspiracy theorist. Smells to me as though the share price was run down to clear out a distressed seller.
Still holding in the hope and expectation of great things to come.

And we finish up at 17.25p on the bid. Improving if not flying.
Where is everyone today? I would have thought that today's RNS and trade action would have stimulated a few posts. Have you all sold out? Surely not.

pond life,

No, i'm here, still holding, and pleased with today' RNS, to be honest.

I expected some damage in the GOM, and SEY appear to have had a limited hit, and with the increase in gas prices, it should lessen the impact once full production is resumed.

I still hope they will commence production early in Mauritania, it remains a possibility I believe.

This is the AFX.



LONDON (AFX) - Sterling Energy PLC said that although it has yet to return to full production in the Gulf of Mexico following the US hurricane season, the associated rise in gas prices has more than offset any financial impact of shut-in facilities.
"Strong US gas prices and the increasing likelihood of these being sustained, has, in value terms, dwarfed the short-term impact of downtime in the Gulf of Mexico due to the effects of severe weather," said Sterling chief executive Harry Wilson.

Sterling added Gulf production is expected to be fully restored towards mid/end of December.


The oil and gas explorer also said that independent consulting engineers have upgraded its proven and probable US reserves by 5 pct to 58.3 bln cubic feet of gas equivalent as of Sept 1. Of these 60 pct are in the proven category.

In Africa, the group said the conversion of the floating production vessel for the Chinguetti field, offshore Mauritania, has been completed. It is on location at the field and the hook-up and installation is well underway, Sterling said.

First production is on schedule for March 2006, building up to a 70-75,000 bpd peak within several months.

The company said the commencement of production in Mauritania will mark "a transformation in the level of Sterling's attributable production and cash flow."

"We believe our rising cash flows will provide increasing strength to Sterling and permit us to be bolder in our exploration activities, as well as enable us to selectively add further production assets to our portfolio," said CEO Wilson.