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

Stockdog - it actually works out to nearer 12%(assume 12%), with the Premier Royalty added to the GOM deal.

It's mega, 75000barrelsx365days a yearx$45(approx)bblx12/100(percentx9years=

$133,042,500 gross, then apply extraction costs, transportation costs and taxes.

Woodside are in dispute with the Mauritanian Government, does ot affect Chinguetti production.

Woodside dispute

Woodside Petroleum Ltd. has been advised by the Mauritanian Government that it disputes
amendments to four offshore production sharing contracts operated by the companys whollyowned
subsidiary, Woodside Mauritania Pty Ltd.
The amendments, which are supplementary to the production sharing contracts, were negotiated
with the Ministry of Energy and Petroleum and approved by the Mauritanian Government and the
Mauritanian Parliament before becoming law in 2005. Woodside is confident that the amendments
are proper, valid and binding on all parties.
Woodside Mauritania Pty Ltd is in discussions with the Mauritanian Government to explore ways of
resolving the dispute.
Woodside welcomes the Governments willingness to address the matter under the dispute
resolution procedures of the production sharing contracts. If the dispute cannot be resolved
through discussion, the parties are likely to begin arbitration under the contract terms.
The dispute does not affect the Chinguetti project which remains on schedule to produce first oil
this month.
Woodside operates the Chinguetti Joint Venture and the four offshore production sharing contracts
on behalf of several joint venturers, including Hardman, BG, Premier, ROC Oil, Fusion, Petronas,
Dana Petroleum, Energy Africa and the Government-owned SociMauritanienne des
Hydrocarbures.

Interesting, poo. Hopefully this won't affect the share price today. There were a lot of big deals going through yesterday. A buy bot was working, buying parcels of 50,000 shares at 23.5p Every few seconds another buy would tick through and if the price tripped up to 23.75p then the buys would astop until the price came down again. Clearly there was a large seller feeding the market and at the close of play this was identified by a sale of 6,000,000 + shares.
The price ticked up another notch at the close, so let's hope that the seller has cleared and we can make more progress from here.
Perhaps one or two large holders are nervous of the possible dispute with the Mauritanian government. If they got wind of an RNS out today this could have triggered selling. If the price doesn't tank today then they clearly got it wrong.

Pondy - what is apparent is this was leaked the day before in Oz.

Shorts increased overnight to many tens of millions, then this announcement.

FWIW here Hardman was particularly badly hit on the sp front initially, then crept back up as the message was read properly.

We knew this was coming, so I fail to see why there was any reaction other than a small percentage.

If Sterling do fall back, it will be tempoary imo.

Last 2 items found, they have not had a mention in Mauritania.

Now where's that GOM gas well being drilled?

Due now!

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Morning all,fires burning well here and still a very happy holder.

Up another notch at the close, having been 24.25 - 24.5 for a moment or two. This still has further to run next week. Clearly the large seller at 23.5 was holding the market back and has now cleared. Onwards and upwards.

A great week all SEY share holders, same next week please.

goal

SEY tipped as a BUY in the Buisiness today, accoprding to a poster on another board.

Here's the link to the Business report;



http://www.thebusinessonline.com/Stories.aspx?Aim%20Investor&StoryID=6950C52E-F938-4031-A918-584CA7897961&SectionID=9A21BE85-0186-496A-9DFF-7C2F0883CFC3



Aim Investor
By Andrew Griffiths
05 February 2006


SHARES in Sterling Energy, one of the strongest hydrocarbon plays on Aim, have jumped after an announcement that production from the offshore Chinguetti field in Mauritania should start as planned in March 2006.

Sterling has an 8% interest in the field and described the event as a milestone that will transform the company. Add this to a sliding-scale royalty over 5% more of the field worth nearly $7 a barrel and promising other discoveries, and you can see why investors are starting to get excited.

Last October, an adjacent well discovered oil, helping to confirm Sterlings estimate of a field of 50m barrels. If declared commercial, Sterling would benefit from its royalty interest and tariff income as production is expected to be transported through a tie-back to the Chinguetti facilities.

A further exploration well is expected by the end of the year, and four or five more wells in 2006. Due to its royalty interest, Sterling pays no costs for any of these wells.

Sterling came to Aim in October 2002 by reversing into the oil production and exploration company LEPCO. At that time its main revenue-generating assets were offshore oil and gas production facilities in the US Gulf of Mexico. Since then, it has expanded into West Africa, through its acquisition of Fusion Oil & Gas and increased its presence in the Gulf through the acquisition of five gas fields.

Sterlings strategy is straightforward: it uses cash-flow from the low-risk Gulf assets to drive exploration elsewhere. Exploration activities are higher risk, but the company saves money by partnering with production businesses that bear most of the costs of extracting the oil and gas that Sterling finds.

Independent consulting engineers have upgraded Sterlings proven and probable US reserves by 5%. Of the total, 60% are in the proven category.

Sterlings production has been affected by Hurricane Rita although gas prices have since been markedly higher.

A farm-out deal with ExxonMobil for the Ambilobe and Ampasindava offshore licences in Madagascar adds to the gravitas. ExxonMobil will pay for a significant exploration work programme in return for a 70% interest in the licences. Chief executive Harry Wilson suggested rising cash-flows would allow Sterling to be bolder in exploration and selectively add further production assets.

Interim results to June 2005 showed sales of 6.7m and a pre-tax profit of 3.3m and earnings per share of 0.17p compared to 0.15p in the previous year. The shares were recommended at 13p. A strong hold.

Andrew Griffiths is managing editor of the Aim & Ofex Newsletter www.aimnewsletter.co.uk

at bloody last for the long suffering holders. a few of the placement at 17p finding its way out...

prop,

not sure what you mean there, but another nice rise this morning, slow and steady is fine by me!

Rising strongly on hight volume. Onwards and upwards.

All the interestin thing about this little mother. Is that I have seen the value of my stock increase day by day for the last month and for the first time for a while have we seen an increase of 4% vis-a-vis the usual of 1-2%!!!!! Now that HAS SIGNIFICANCE!!!! WATCH THE TOP BLOW ON THIS SOON!

Yes - sooner or later we are going to run out of sellers, but with so many shares in issue its a very liquid market. No sign of froth just yet.

Pond Lie,

I agree, planty of shares around, and a rising price on strong volume.

What's going on here today then? It takes a month to travel 2p higher and an hour to drop by the same amount. Hardly seems fair.....

queen1,

I agree, but it has risen a bit from the low now, -1.25p.

ALL oilers and most commodity stocks have fallen today, although SEY has fallen by a higher percentage than most.

oops - this wasn\'t in the script! At least it recovered some ground during the day. I suppose we were due a pull back at some stage.

But why Pond Life? After treading water while all around were doubling, trebling and better their share prices, why should this rise be pulled back? Not a critisism of your thoughts, more a need for understanding (and before you say it, I know that no sp goes up vertically...).

could the drop be a bit of fallout from the rest of the gang ,hnr and co oVer talks with new goVernment.I sold last week on this problem,then when sey carried on riseing bought back in higher.If we get all the oil flowing this month this is a Very cheap share,there income is at least doubleing.