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

great post. thx Andy

prop,

Pleasure.

Absolutely amazed to see SEY down this morning!

There have been a couple of 1 million sells, but with production imminent, I cannot understand why anyone is selling.

Another week or so and the price will surely be 25p?

Value will out in the end.

Andy, good report, thanks and share your exasperation on this share, compared to e.g. CHP going great guns on a set of promises, no oil flowing yet.
What is it that holds SEY back in the face of hard cashflow and the above reported prospects? Have institutions not yet digested (or forgiven?) the massive dilution when they raised $97m to buy their interest in the Mauritanian govt's share?
Ideas welcome.

sd

Stockdog,

I have no idea, but as you rightly say other oilers are shooting up on vague results and no idea of value, yet SEY remains static when it's on the brink of an additional 400% turnover, due to start any day now!

Quite incredible, but I'm holding for the longer term, so once production is actually confirmed as commencing, at such a high oil price, I expect some broker upgrades.

Agreed Andy

With 120mb estimated for Ching and another 175mb estiamted for the other three fiellds offshore Maurie, there should be a reasonable payback from the $97m investment over the next 4.5 years (120mb divided by 75kbpd?).

Probably the most interesting question is where SEY will deply its new cashflow - dividends, God forbid?

Watching and waiting - could have put it all on CHP!

sd

C'ant believe SP down another 0.5p today! However, thanks to your posts Andy am very happy to sit on this one til it hatches!

Anything happening here lately?

Decided to stay as seawallwalker, I sound slightly more like I knw what I am on about.

(emphasis on slightly).

Night all, may be oil tomorrow.

Madagascar looking good for this year, 2 d seismic.

Ray A,

Me neither!

It seems all those junior oilers with more hope and promise than measurable resources are climbing cliffs, and boring PRODUCERS with substantial cashflow, (soon to be greatly enhanced!) and PROFITS are unloved by the market!

Someone on iii has said production commences tomorrow, for the sake of the SP, let's hope it does!

I honestly believe value will be recognised in the end.

SWW,

I prefer the name, as you righty say, SWW gives the impression of a deep thinker walking beside the ocean pondering his next profitable investment!

poo bear on the otherhand...

Welcome back, let's hope your return coincides with a change in our recet fortunes here!

When having a grumble or three about the SEY share price we tend to forget that it is capitalised at more than several of these shooting stars added together. Add up EME, MRP, CHP and quite a few others and you still won't get anywhere near SEY's market cap.
We are still undervalued - if I didn't think that then I wouldn't hold, but until the oil starts to flow and until Tiof is finally declared commercial then the SP won't reflect reality. I can wait, although I agree that it is frustrating.

Posted by Chingachgook on Advfn.

from the Australian press on Monday

Production should begin at the offshore Chinguetti field, operated by Australia's Woodside Petroleum Ltd, on Wednesday although last minute technical glitches could push the start-up back a couple of days.

"The 24th (of February) is the deadline," Ismail Abdel Vetah, director of operations for national oil company SMH, told Reuters in an interview in the capital, Nouakchott.

"There are a few last-minute technical issues on some well-heads, some seals which have leaked, but they are small problems," he said.

2006 AAP

I found this recent article from Barclays Stockbrokers om another site.

Plaudits to gheluvelt.
---------------------------

Barclays Stockbrokers 'smart investor' magazine received today, containing an article on the oil sector; excerpts follow:

"Paul Mumford, fund manager at Cavendish Asset Management admits that with so many [oil] stocks to choose from he tends to cherry pick ....

Mumford mentions Roc Oil (ROC) which is producing revenues from the beginning of 2006 in Western Australia. "They also have an interest off West Africa, an option in Angola and an interest in China. Some of these things are fairly low risk because they are just options, whereas if they exercised them, it will be because they have actually found something rather than just being speculative."

"Then there is Sterling Energy, which has got some Texas production. You have again got West African interest and, of particular note, it has a holding in Madagascar which it hasn't exploited as yet, but is one that the major companies could be interested in. There is also a company called Nautical Petroleum (NPE), which is a North Sea heavy oil producer. It owns blocks that already have oil in them and its exploration is basically to ramp up its production in the heavy oil area."

"If you are looking for a slightly larger play, you have got Dana Petroleum (DNX), which has got a decent cash flow and some pretty good prospects spread around the place," Mumford continues. "Then you have the larger ones still, like Burren Energy (BUR) and Premier Oil (PMO), which I haven't actually got a holidng in, but still make a pretty sensible investment."

The following were all listed as "ones to watch":
Sibir Energy, Sterling Energy, White Nile, Star Energy, Roc Oil, Nautical Petroleum, Dana Petroleum, Burren Energy, PRemier Oil, Total, BP.

Andy,
I wonder just how long ago that article was written. SEY has already done a deal with Exxon on the Madagascar licence.
Interesting also that he plugs White Nile - if ever a share was held up with hype and hope, then this is it.

source: yahoo finance

Mauritania set to start pumping oil on Friday

Click to enlarge photo

NOUAKCHOTT (AFP) - Offshore oil production in Mauritania is due to officially start Friday, the head of the country oil production company said.

Aboubekrine Ould Merouani, of the Societe Mauritanienne des Hydrocarbures (SMH) told AFP officially production begins Friday "but a period of two to three days of uncertainty is foreseen, even if technically all is set."

The government of Mauritania hopes to produce some 75,000 barrels of oil a day and expects to earn about 200 million dollars per year in oil exports.

Production should begin at the Chinguetti offshore field operated by Australia's Woodside Petroleum Ltd (Berlin: WOPA.BE - news) .

No official ceremonies are planned for the launch of the historic and lucrative business, which is set to see Mauritania join the club of other African oil producing countries such as Nigeria, Chad, Equatorial Guinea, Libya and Angola.

Of late, the government has been in dispute with Woodside Mauritania, a fully-owned subsidiary of the Australian-listed firm, over amendments to its initial deal with the ousted regime of Maaouiya Ould Taya.

Former oil minister Zeidane Ould Hmeida has been detained on charges of serious economic crimes and court proceedings opened this week.

Judicial investigators have also probed members of the former regime and parliamentarians over the amendments.

Mauritania's Prime Minister Sidi Mohamed Ould Boubacar this week renewed the military junta's pledge to ensure that revenues from oil and other natural resources benefit the local population.

"We want to avoid making mistakes committed in countries whose people have been unable to benefit from their natural resources by having a system to guarantee transparency in managing our mineral reserves," Ould Boubacar said when he set up a national committee to oversee the exploitation of resources.

Mauritania, where the military overthrew an unpopular regime in August last year, has pledged a return to open democratic rule in 2007.

Bon accord, n'est pas?

oui!

Some very big buys about this pm.

84 million as I write in 20 minutes.

As Euro says on the other channel, very bullish and should underpin the sp at 23p for a bit.

i don't hold sey atm i did- but that is some buying?. reasons?.any of you in goo?- interesting prospect http://www.goldoilplc.com

Nah.........

Only if the Missus catches me.

I reckon that the 84 million must be a buy and sell. A very big stake has changed hands. I reckon we'll see an RNS from AMVESCAP next week announcing that they are in for a few more.
As you say poo, it should underpin the sp at this level for a few days - long enough for the RNS announcing the start of pumping to take us north of here.
Happy days indeed.