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 read the Shares Mag. for what it is worth. Highlights the despute between woody and GOV. effect to ROC,Premier,Hardman, No mention of SEY. But would explain some of the small holders leaving this week. shame if they have used this information or lack of it.

anyone have a view on the increase on daily swings in share price over the last 2 weeks. It seems to have gone from 0.25p up or down to 0.75p

regards

Andy;
Well TB-2 was expected to take 50 days from 7th Dec, that makes 66 days
ago. If successful along with Chinguennti reaching full production by April, i was hoping this would help us to reach 30p a lot sooner.
cyril

Ray A,

Good to see you here, and I honestly believe that SEY will reward us, in the long term, and you can see from the chart at the top of the page that it has been a slow and bumpy ride from 10p (when I first bought), to here.

I have added along the way, and still hold them all, and the maximum BATR already applies to most of them, and I am hoping they stay independent for another year so that they all qualify for the maximum relief.

The reason I initially bought into SEY was management experience and quality, and that is the reason I still hold.

No share is without risk, and I see the major risk here as political, and hope that the JV partners can quickly resolve the current spat with the Mauritanian government, even if it doesn't effect Chinguetti startup.

Clearly the other risk is a problem with production, but that applies to all oilers, so as there are some large oil companies involved here, I trust their judgement!

niceonecyril,

Yes, no news yet on TB-2.

Someone said the other day that generally it's positive rather than negative results that are delayed. (I personally don't know if this is true or not)

let's hope that no news proves to be the case here!

Ray A,

You may find this useful, the link to the SEY 2005 Oilbarrel conference presentation, which I attended.

Click HERE


This incudes all the information that you may require regarding Sterling Energy, and is an excellent presentation IMO.

Duplicated

Sorry

Think this is us?

http://www.panandeanresources.com/_news/news.asp

regards

Dr Square,

I don't think so, here is what I have found.

Sterling Energy
Houston Office
Sterling Energy Inc.
15425 North Freeway
Suite 300
Houston
Texas 77090
USA

Telephone +1 (281) 872 9600
Fax +1 (281) 872 9610
info@sterlingenergyusa.com

----------------------------------------

STERLING EXPLORATION & PRODUCTION COMPANY, L.L.C.

(713) 780-9200
675 BERING DR STE 850
HOUSTON, TX 77057-2187

----------------------------------------

my thinking with sey is when reVenue starts,they are not going to stand still this will get them looking for new prospects,if this happens share Value will increase.

Thanks Andy

My mistake

regards

Dr Square,

It looks as though the two companies are different.

funnily enough, HW commented that there are several companies called Sterling, and that it does cause confusion, at the last AGM.

There is also a Sterling involved in the North Sea I believe.

All,


I found this on an Australian BB, so cannot verify if this is a true quotation or not, but I believe it probably is.

It is from the CEO of Woodside Petroleum, to his employees, regarding the dispute they are having with the Mauritanian government.

The fifth item is the one that is significant for SEY holders.
I post for information puproses only, as SEY are a partner.

-----------------------------------------

The following was an internal email sent to Woodside employees last week:


You will know by now from our statement to the Australian Stock Exchange last Friday that we have been notified by the Mauritanian Government that they dispute amendments to our offshore production sharing contracts in Mauritania.

So we all understand the context of this dispute, I thought it useful to give you some background.

First, production sharing contracts are common the world over. After they are signed, amendments are often negotiated to clarify and interpret unforseen points that arise from actual operating experience. This has happened in this case. The amendments clarified such matters as abandonment and decommissioning, treatment of past costs, extensions to some exploration periods and additional training commitments.

Second, production sharing contracts invariably contain a dispute resolution mechanism for the parties to fall back on if they cannot agree. The Government is using this mechanism in this case and we welcome it.

Third, it is understandable for a new government, as in the case of Mauritania, to examine the contracts and any amendments and to debate their content. This is happening. It is also happening with other Mauritanian industries such as fishing.

Fourth, the current dispute with Mauritania refers only to amendments to our contracts, not the contracts themselves. In other words, our contracts are not under challenge.

Fifth, the dispute does not affect Chinguetti. It is business as usual for this project and we are on track to produce first oil this month, a significant achievement given we approved the development less than two years ago.

In the case of the amendments which the Government now disputes, we have been in discussions with them for several weeks. All along, our talks have been civil and we are determined to resolve the dispute amicably.

As you would expect, the dispute has caused some public comment, particularly in Mauritania, and the former Minister for Energy and Petroleum has been detained, apparently over the former Government's process of approving the amendments. Various commentators have suggested impropriety in this process but they have provided no evidence. We have chosen not to engage in the public debate, other than through the Australian Stock Exchange. For our part, we are confident that the amendments are proper, valid and binding on all parties. We are also confident that our people working in Mauritania have acted honestly, ethically and honourably.

We have much to be proud of in Mauritania and the people of Mauritania stand to reap significant benefits from our presence. While discussions continue on the disputed amendments, I ask that we maintain our focus and continue to support our Africa Business Unit.

We'll keep you posted as events unfold.

Regards,

Don Voelte
Managing Director & CEO

Andy
Your post ex-Woodside mirrors my experience
I remain committed to my holding

Hi all

Woodside announce mid week should get more clarification. But all indications still are no effect to Ching or Sterling.

http://www.rigzone.com/news/article.asp?a_id=29364

Regards

Dr Square,

Many thanks.

Andy,

Thanks for Woodside info, every confidence that market will wake up to this one and have added (again!) to my SEY holding today.

Ray A?

Rayrac?

Andy to pick up on your point about the North Sea, if my memory serves me right.
They have a minute royalties in 2 N/S Blocks.
Doing a countdown, 14 days left to 1st Production?
cyril

I find it most encouraging that they've just brought on board (today's RNS) a highly qualified City man, apparently just to look after all the cash that will flow from Chinguetti!!

no doubt he will be his own first port of call - lol!