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

Just a point here, the Industry average for drilling and finding commercial oil and gas is 25%.

Coincidentally, that is the figure quoted by Lars Marius Furu for the Leopar prospect.

I wont get too excited about this yet. One to monitor though, if the field comes in there will be an RNS, buy on the day because you know what they think it may contain.

That's the last off topic on this thread.

poo bear ur a genious! thanks for the interpretation,
BUT how do you compare sey to ELP

I don't.

...........and er, a genius I am not, but thanks for the thought.

poo,

Another frustrating week for SEY holders, but we are still a few weeks away from the (hopefully!) commencement of production, so the hot money is yet to arrive IMO.

I notice some of the ramper type posters have arrived over the road, a sign that it's about to liven up IMO.

Andy, I couldn't agree anymore, I think its will probably take a good four weeks before SEY breaks the 20p mark

Yes Andy - I had noticed

I see the Saturday posters are the usual lot so it's a reasonable read today.

You and I take the longer view I believe and this ups and downs are just background noise prior to production coming online at Chinguetti.

That'll be the first occasion I expect a change in the sp.

The next occasion will be June when the prelims are produced, barring a call of commerciality for Tiof, which I beiieve is imminent up to the end of February.

The third will be movement by Sterling and Exxon in Madagascar towards exploring the licenses.

I never thought I would say this but I can not sell these with all that pending, even after each event.

I would like to skim the top after the prelims but with the 2006 2007 drilling campaign focusing more on developement wells in PSC A and PSC B, I may not do that.

I also agree the hot money has yet to arrive.

jamee106 - we won't worry about prices just yet.

Posted by Princey0 on the other channel.

Told you so.............

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh91028_2006-01-16_10-48-28_l16759835_newsml

"Exxon Mobil to open office in Madagascar"
Mon Jan 16, 2006 05:48 AM ET
ANTANANARIVO, Jan 16 (Reuters) - American oil giant Exxon Mobil (XOM.N: Quote, Profile, Research) is to open an office in the Madagascan capital as it prepares to start drilling in two recently acquired offshore blocks, the government said on Monday.
Elise Razaka, director general of the Office of National Mines and Strategic Industries, said Exxon would set up an office in Antananarivo on Jan. 27.

"Because of the oil drilling works it will soon undertake offshore, Exxon Mobil is opening an office in Antananarivo," Razaka told Reuters.

Last July, Exxon 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 (SEY.L: Quote, Profile, Research) .

Though largely unexplored, the government thinks the world's fourth largest island has big reserves of oil that are profitable to extract at current prices.

It expects to have production of around 60,000 barrels a day in the next 3-4 years, much of it coming from offshore blocs on the northwest coast.

Razaka said that in one of the blocs, Exxon had teamed up with privately held American explorer firm, Vanco Energy, and Norway's Norsk Hydro (NHY.OL: Quote, Profile, Research) .

"The offshore prospecting works undertaken off Mahajanga, in the northwest of Madagascar, will be launched at the beginning of the year," Razaka said.

Besides Exxon and Norway's Norsk Hydro (NHY.OL: Quote, Profile, Research) , which has its own concession in addition to its venture with Exxon, the government says it is negotiating with other oil giants.

These include Chevron Texaco (CVX.N: Quote, Profile, Research) , Royal Dutch Shell (RDSa.L: Quote, Profile, Research) (RDSb.L: Quote, Profile, Research) , BP (BP.L: Quote, Profile, Research) , Total (TOT.N: Quote, Profile, Research) , Norway's Statoil (STL.OL: Quote, Profile, Research) and China's National Petroleum Corporation.

The impoverished island of 17 million is also being explored by mining companies looking for gold, gemstones, nickel and titanium.

Madagascar, an island off the southeast coast of Africa, is known to have oil and gas reserves, but they are poorly mapped and drilling remains at an exploratory stage

POO BEAR, great posting... I was getting cold feet with the sp going down by -4% but it thankfully recovered b4 end of play! So this will be just great news!!!!!!!!!! So life beyond Mauritania looks wonders.. I can see you view point now,, SEY seems like more a long term choice! and is not a bad stock to carry in the portfolio

i remember the days this would be posted immediately!

Hardman Resources Limited
17 January 2006

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 17 January 2006

AUSTRALIAN CONTACT: Peter Thomas
Hardman Resources Ltd
+61 8 9261 7600

LONDON CONTACT: Patrick Handley
Brunswick Group
+44 207 404 5959

RE: HARDMAN DRILLING PROGRAMME WEEKLY PROGRESS REPORT

Hardman Resources Limited ('Hardman') provides the following progress report on
its drilling activities:

Uganda: Block 2 - Mputa-1 Wildcat

Since the last report on 10 January the rig completed repairs and drilled the
well to total depth of 1,186 metres. The well encountered oil shows over two
intervals within a deep objective and as of midnight on 16 January oil samples
have been recovered from the upper interval, a sand of approximately 10 metres
gross thickness at 965 metres. The sampling and pressure testing programme is
continuing.

Upon completion of the Mputa-1 exploration well operations, the rig will move to
the Waraga-1 location approximately 19 kilometres to the north-east of Mputa-1.

Mputa-1 targeted a structural prospect defined by the 2005 seismic survey with
potential multiple objectives and in an area with surface oil seeps. The
results of Mputa-1 provide confirmation of a working hydrocarbon system and
considerable support for further evaluation of both this discovery and the
surrounding area where a number of other good prospects and leads have been
identified. In this wildcat well the reservoir sands were poorer than expected
for some of the objective levels but there is significant encouragement that the
well and seismic data can provide a better understanding of reservoir sand
distribution and considerably reduce the risk of other prospects. Further work
will be required before any comment can be made on the size or commercial
significance of this discovery and the potential for future resource in the
area.

The well location is 220 kilometres north-west of the capital Kampala and
onshore 8 kilometres from Lake Albert. The location is 60 kilometres south-west
of the Butiaba Waki-1 well (drilled in 1938) and 87 kilometres north-east of the
Turaco exploration wells drilled by Heritage in 2002-2004.

Hardman's CEO Mr Simon Potter commented:

'This is a very encouraging result - even though there is still significant
uncertainty about the size of Mputa and whether it has commercial potential,
this well has confirmed the existence of a working petroleum system. It has been
an important step in reducing exploration risk in the basin and we are looking
forward to Waraga-1, the next well in the programme.'

Equities in Block 2 are:
Block 2
Hardman Petroleum Africa Pty Ltd (Operator) 50.0%
Tullow Oil 50.0%

Mauritania: PSC Area B, Block 4 - Dore-1 Exploration Well

Since the last report on 12 January the 'Stena Tay' drilling rig completed
operations on the Zoule-1 well and moved to the Dore-1 exploration well location
in PSC B, Block 4. At midnight on 16 January the 'Stena Tay' was preparing to
spud the well.

The Dore prospect is located approximately 19 kilometres east of the Tiof field,
and 30 kilometres north of the Chinguetti field in water depth of approximately
386 metres. The well will be drilled to a proposed total depth of 2,388 metres
and will target Oligocene aged submarine channel/turbidite sands as well as
encountering the updip extension of the Tiof Miocene canyon system.

Equities in PSC B are:
PSC B
Woodside Mauritania Pty Ltd (operator) 53.846%
Hardman Chinguetti Production Pty Ltd 21.6%
BG Group 11.63%
Premier Oil Mauritania B Limited 9.231%
ROC Oil Company 3.693%

All reported depths (except water depth) are referenced to the rig rotary table
(RT). Hydrocarbon shows will be only be reported after all required logs have
been run and evaluated, although Hardman will release weekly updates on the
exploration drilling campaign.

Times and dates for Mauritania wells refer to GMT (Mauritania time), 8 hours
behind Western Standard Time, Perth. Uganda time is GMT+3, 5 hours behind
Western Standard Time, Perth.


PETER THOMAS
CHIEF FINANCIAL OFFICER

Note: In accordance with Australian Stock Exchange Limited listing requirements,
the geological information supplied in this report has been based on information
provided by geologists who have had in excess of five years experience in their
field of activity.



This information is provided by RNS
The company news service from the London Stock Exchange

Maybe prop,l but this has already been aired by me previous so it's not new news.

The Uganda stuff, is Hardman pertaining only.

regards

poo

jameel06 - cold feet on one dip??

Golly gosh.

Have a look at the chart popsted by prop above in the first para and you will see there are lots of big drops, and big downs, so is the life of an E & P stock.

Always make your own decisos, but I have outlined my strategy to you, and that is what I will stick to.

regards

bear

Up a bit down a bit. That's a day in the life of a SEY holder waiting for the boat to come in. Today looks positive, however. Back to 19p hovering towards 19.25. We are building a nice base here, ready for an assault on 20p+ when there is an announcement that the oil flow has started.

Off topic,
Thanks for the introduction to ELP. Any further info welcomed. Poo - would you like to start a thread?

.

thx for that SWW!

Prop - I am here too..........

And gone again.

Blink and you miss me.

Here I am.........


Ha, missed me!

poo bear, me start a thread???? Still have alot to learn!!!!!! So not yet!!! But poo bear somethings cookin with ELP!!!! REally!!!1

If you see DNO (in oslo) has also increased by approx same % as ELP today..... I have topped up ELP but all this buying is unfortuntanelty not on the bassis of any credible organisational performance as such but rather buying behaviour on a possible GREAT FIND in the North Sea.. So its all speculative buying in readiness for the Jaguar oil exploration whose results are due in approx 5 weeks!!!!!!!! Drilling commences in approx 7 days!!!! But its looks like boom or bust!!! Perhaps its worth a stab, BUT I'm heavy in this one and have again topped up at 41p yesterday!!!!! BIG RISK!!!! BUT HIGH REWARD!!!!!

jameel06 - dont think that comment was directed to you.

Dont disbelieve you in respect of ELP, still watching.

jameel06,

Good luck with ELP!

As Poo rightly points out, SEY is not a trading stock, (IMO) and it's a rollercoaster of a chart, but the value is coming, so we sit and wait, and I don't get concerned about minor drops, although obviously I would prefer them not to happen!


I am still holding all my SEY shares, and I prefer to hold long term all those stocks that I believe have the potential for long term value enhancement, and not trade them at all.

Holding for more than one year reduces the CGT, and over two years, reduces it down to 10%, another point worth considering. Inheritance tax breaks too if held for over 2 years!